Principles Of Management MITSDE

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Principles of ManagementMITSDE

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Principles of Management

• Authority and Responsibility
• Authority and responsibility must go hand in
  hand. If an individual is given the authority
  to perform the assigned task, he must have the
  responsibility to get the work done and
  vice-versa. The manager is ineffective if he has
  responsibility but no authority while he may
  become irresponsible if he has authority without
  responsibility.
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• Remuneration
• If the remuneration paid is reasonable,
  rewarding or fair, then the workers may get
  motivated to perform more productively for the
  organization by putting their maximum efforts.
• Division of Work
• Proper division of work is very necessary for
  every organization. The work must be divided into
  compact jobs and the jobs must be allocated to
  those persons only who best fit in it leading to
  proper utilization of natural resources and
  enhanced efficiency of work.

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• Equity
• Every employee must be treated with equality
  and management should not go for nepotism or
  favoritism because it may affect an employees
  confidence and morale..
• Discipline
• Every organization needs to maintain
  discipline as it leads to the establishment of
  clear rules among the employees and proper
  supervision of all the levels that facilitate
  smooth run.

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• Centralization
• Every organization must have a proper
  proportion of centralization and
  decentralization. If there is immense
  centralization in an organization, the
  subordinates role will be diminished In
  decision-making and vice-versa.
• Unity of Command
• An employee must be accountable to one
  superior only. Dual command, division in loyalty
  or duplication of work must not occur as it may
  lead to delay, chaos, confusion or
  irresponsibility.

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• Scalar Chain
• There must be a chain of superiors ranging
  from top to bottom level leading to a proper flow
  of command and communication. It also leads to
  gang plank (flow of communication between two
  individuals of the same level)..
• Unity of Direction
• A group having the same objective must be
  governed by one superior with one plan of action.
  Without unity of direction, action and efforts
  towards the goal will be useless.

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• Stability of Tenure
• Every employee takes time to fit into some
  job so the period of the job must be fixed. The
  stability of tenure will help to increase
  confidence and loyalty from employees side
  towards the position he stands in.
• Initiative
• Every employee must be encouraged to take
  initiative in the organizations processes. It
  leads to the enhancement of their confidence and
  allows them to be an asset to the firm.

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• Subordination of individual interest to general
  interest
• To achieve the organizations goals,
  organizations interest must be above the
  employees personal interests.
• Esprit De Corps
• Esprit De Corps, Unity of Strength, or team
  spirit must be fostered. It motivates the workers
  to work harder.
• Order
• There must be the rule of right man in the
  right place leading to the smooth functioning of
  the organization with no chaos.

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Conclusion

• Here at MIT School Of Distance Education, we
  realize the value of these principles and we make
  sure that every future manager is well-accustomed
  to these principles. Our PGDM, PGDBA courses and
  even the PGCM courses, distance learning courses,
  correspondence MBA include exclusive and lucid
  lessons on these principles.

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THANK YOU !!
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