Principles of Management - Summary for Beginners
📊 Definition:
Management is the process of planning, organizing, leading, and controlling resources to achieve
specific goals efficiently and effectively.
🔍 Key Functions of Management (POLC):
1. Planning – Setting objectives and deciding the best course of action.
2. Organizing – Arranging resources and tasks to achieve goals.
3. Leading – Guiding and motivating employees.
4. Controlling – Monitoring performance and making adjustments.
🤝 Major Theories:
1. Henri Fayol's 14 Principles of Management
Division of Work
Authority and Responsibility
Discipline
Unity of Command
Unity of Direction
Subordination of Individual Interest
Remuneration
📊 Definition:
Management is the process of planning, organizing, leading, and controlling resources to achieve
specific goals efficiently and effectively.
🔍 Key Functions of Management (POLC):
1. Planning – Setting objectives and deciding the best course of action.
2. Organizing – Arranging resources and tasks to achieve goals.
3. Leading – Guiding and motivating employees.
4. Controlling – Monitoring performance and making adjustments.
🤝 Major Theories:
1. Henri Fayol's 14 Principles of Management
Division of Work
Authority and Responsibility
Discipline
Unity of Command
Unity of Direction
Subordination of Individual Interest
Remuneration
