Principles of Management
in principle meaning:
Definition of Principles :
According to Terry, “Principle can be defined as a fundamental statement or truth that guides an action or idea”.
Conclusion: It is clear from the study of the above definitions that the principle is a fundamental statement or universally accepted truth which is the basis of any action or idea or argument.
Nature of principles of management
1. The principles of management are dynamic.
2. The principles of management are basic statements or universally accepted truths.
3. These principles are flexible.
4. The principles of management are relative.
5. The principles of management are imperfect.
6. These principles differ from policies.
7. Principles differ from rules.
8. Principles of Management are different from Management Skills.
Important Principles of Management
Some of the principles of management are as follows:-
1. Principle of Specialisation:
This principle states that the whole work should be divided into several parts and each part of the work should be assigned to a person with a specific knowledge or ability.
2. Principle of Discipline:
This principle of management emphasizes that discipline is absolutely essential for the success of the organization. Therefore, this principle says that all the employees should voluntarily follow the rules of the organization and the orders of the officer.
3. Principle of Unity of Order:
This principle states that no person can execute orders received from more than one officer at a time. Therefore, this principle is based on the assumption that an employee should receive orders from only one officer at a time.
4. Principle of Unity or Equality of Instruction:
This principle states that there should be the same chief officer for all similar type of purposeful work. According to Fayol “actions having the same purpose should be directed by the same speaker.
5.Principle of preference of general interest over personal interest:
According to this principle, every employee and officer should give more importance to the common interests than his personal interests and if there is a conflict between personal interests and common interests then personal interests should be sacrificed or surrendered.
6. Principle of Remuneration to Employee:
Fayol's principle states that the employee should be given fair remuneration. This remuneration should be fair not only from the point of view of the employees but also from the point of view of the organization.
7. Principle of Centralisation:
When all the decision making powers in the organization are concentrated in the hands of the higher managers, then there is a state of centralization in the organization, in contrast, when the decision making powers are delegated to the subordinates, then it is called centralization.
8. Theory of Law:
This principle states that every person and thing should be properly arranged. As far as the persons are concerned, each one should be fitted in the right place.
9. Principle of Justice or Fairness:
This principle of management states that managers should treat their employees fairly, fairly, equitably and with kindness.
10. Theory of Hierarchy or Hierarchy:
According to Fayol, “In every organization, an unbroken stream of authority flows from the top manager to the lowest level manager. Therefore, generally this stream or path should be followed for giving orders and presenting reports”.
11. Principle of Equity :
Equality means - All persons should be seen equally, there should be no discrimination in their remuneration and punishment system b, no special importance should be given to any caste, religion, language, nationality person. Everyone should be treated equally.
Conclusion of Principles of Management :
All the principles of the above mentioned management are very important. These are all universal principles. These can be used in general in the management of any organization and organization. Their importance is omnipresent.
importance of management principles
The principles of management are very important for the managers. Following are the importance of principles of management:-
1. Increase in Efficiency:
Pro. Koonj and O'Donnell have written that "management principles certainly improve managerial efficiency". Instead of taking decisions on the basis of experiences and intuition, they can make decisions on the basis of principles. As a result of this, the efficiency of the organization increases.
2. Nature of Management Functions – Contribution to the Development of the System:
With the development of principles of management, the nature of the functions of management becomes more clear, this helps in the development of management.
3.Facility in Training:
With the development of the principles of management, systematic training of management can be given. In the latter half of the present century, there has been a lot of development of managerial education or training, it is the result of the development of the principles of management.
4. Interest in Managerial Research:
The reason and result of the development of the principles of managerial dissertation. As the research is done, new theories will be developed and refined. As new theories are developed, new dimensions of research in management will be developed.
5. Development of the Management Profession:
Every profession is based on certain principles. The development of management principles will help in developing management as a profession.