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10236 Management as a Science

Science is a systematic body of knowledge pertaining to a specific field of study that contains general facts which explains a phenomenon. It establishes cause and effect relationship between two or more variables and underlines the principles governing their relationship. These principles are developed through scientific method of observation and verification through testing. Science is […]

12901 Apply the Definition of Coordination to Real-World Cases

Co-ordination is the unification, integration, synchronization of the efforts of group members so as to provide unity of action in the pursuit of common goals. It is a hidden force which binds all the other functions of management. According to Mooney and Reelay, “Co-ordination is orderly arrangement of group efforts to provide unity of action […]

11516 Techniques of Scientific Management

Time Study It is a technique which enables the manager to ascertain standard time taken for performing a specified job. Every job or every part of it is studied in detail. This technique is based on the study of an average worker having reasonable skill and ability. Average worker is selected and assigned the job […]

10723 Principles of Scientific Management

Development of Science for each part of men’s job (replacement of rule of thumb) This principle suggests that work assigned to any employee should be observed, analyzed with respect to each and every element and part and time involved in it. This means replacement of odd rule of thumb by the use of method of […]

10228 5 Functions of Management: Planning, Organizing, Staffing, Directing and Controlling

Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are […]

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Following are the main importance of the Principles of Management.

  1. Improves Understanding.
  2. Direction for Training of Managers.
  3. Role of Management.
  4. Guide to Research in Management.

  1. Improves Understanding - From the knowledge of principles managers get indication on how to manage an organization. The principles enable managers to decide what should be done to accomplish given tasks and to handle situations which may arise in management. These principles make managers more efficient.

  2. Direction for Training of Managers - Principles of management provide understanding of management process what managers would do to accomplish what. Thus, these are helpful in identifying the areas of management in which existing & future managers should be trained.

  3. Role of Management - Management principles makes the role of managers concrete. Therefore these principles act as ready reference to the managers to check whether their decisions are appropriate. Besides these principles define managerial activities in practical terms. They tell what a manager is expected to do in specific situation.

  4. Guide to Research in Management - The body of management principles indicate lines along which research should be undertaken to make management practical and more effective.

    The principles guide managers in decision making and action. The researchers can examine whether the guidelines are useful or not. Anything which makes management research more exact & pointed will help improve management practice.

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