Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Principles of Management

Question:

Which principle is an extension of the principle of ‘Harmony not discord’?

Options:

Cooperation, Not Individualism

Science not Rule of Thumb

Development of Each and Every Person to His or Her Greatest Efficiency and Prosperity

None of these

Correct Answer:

Cooperation, Not Individualism

Explanation:

Cooperation, Not Individualism: There should be complete cooperation between the labour and the management instead of individualism. This principle is an extension of principle of ‘Harmony not discord’. Competition should be replaced by cooperation. Both should realise that they need each other. For this, management should not close its ears to any constructive suggestions made by the employees. They should be rewarded for their suggestions which results in substantial reduction in costs. They should be part of management and, if any important decisions are taken, workers should be taken into confidence. At the same time workers should desist from going on strike and making unreasonable demands on the management. In fact when there will be open communication system and goodwill there will be no need for even a trade union. Paternalistic style of management, whereby the employer takes care of the needs of employees, would prevail as in the case of Japanese companies. According to Taylor, there should be an almost equal division of work and responsibility between workers and management. All the day long the management should work almost side by side with the workers helping, encouraging and smoothing the way for them.