Principles of Management Notes
Definition of Management:
Management is the process of planning, organizing, leading, and controlling resources to
achieve organizational goals effectively and efficiently.
Definition of Principles of Management:
Principles of Management are fundamental guidelines that help managers make decisions and
manage organizations successfully.
Importance of Principles of Management:
The principles of management help to:
•Improve efficiency
•Increase productivity
•Maintain discipline
•Achieve organizational goals
•Improve coordination among employees
Henri Fayol’s Principles of Management:
Henri Fayol introduced 14 principles of management.
1. Division of Work:
Work should be divided among employees according to their skills and specialization.
Benefit:
•Increases efficiency and productivity
, 2. Authority and Responsibility:
Managers should have the authority to give orders and the responsibility to ensure work is
completed.
3. Discipline:
Employees should follow organizational rules and respect management.
4. Unity of Command:
Each employee should receive orders from only one manager.
Benefit:
•Prevents confusion
5. Unity of Direction:
Activities with the same objective should follow one plan under one manager.
6. Subordination of Individual Interest:
Organizational interests should be more important than personal interests.
7. Remuneration:
Employees should receive fair wages and rewards for their work.
8. Centralization:
Decision-making authority should be balanced between top management and lower levels.
9. Scalar Chain:
Definition of Management:
Management is the process of planning, organizing, leading, and controlling resources to
achieve organizational goals effectively and efficiently.
Definition of Principles of Management:
Principles of Management are fundamental guidelines that help managers make decisions and
manage organizations successfully.
Importance of Principles of Management:
The principles of management help to:
•Improve efficiency
•Increase productivity
•Maintain discipline
•Achieve organizational goals
•Improve coordination among employees
Henri Fayol’s Principles of Management:
Henri Fayol introduced 14 principles of management.
1. Division of Work:
Work should be divided among employees according to their skills and specialization.
Benefit:
•Increases efficiency and productivity
, 2. Authority and Responsibility:
Managers should have the authority to give orders and the responsibility to ensure work is
completed.
3. Discipline:
Employees should follow organizational rules and respect management.
4. Unity of Command:
Each employee should receive orders from only one manager.
Benefit:
•Prevents confusion
5. Unity of Direction:
Activities with the same objective should follow one plan under one manager.
6. Subordination of Individual Interest:
Organizational interests should be more important than personal interests.
7. Remuneration:
Employees should receive fair wages and rewards for their work.
8. Centralization:
Decision-making authority should be balanced between top management and lower levels.
9. Scalar Chain:
