Practicing Success
Practicing Success
CUET Preparation Today
A managerial principle is a broad and general guideline for decision-making and behavior. For example, while deciding about promotion of an employee one manager may consider seniority, whereas the other may follow the principle of merit. The principles of management derive their significance from their utility. They provide useful insights to managerial behavior and influence managerial practices. Managers may apply these principles to fulfil their tasks and responsibilities. Principles guide managers in taking and implementing decisions. It may be appreciated that everything worthwhile is governed by an underlying principle. The quest of the management theorists has been and should be to unearth the underlying principles with a view to using these under repetitive circumstances as a matter of management habit. These principles enable refinement of management practices as well by facilitating the development of new management techniques. Thus, we see that techniques like Operations Research (OR), cost accounting, ‘Just in Time’, ‘Kanban’ and ‘Kaizen’ have developed due to further research on these principles. Thus, it can be said that understanding the meaning, nature and significance of principles of management will help us to appreciate their applicability in real life situations. |
Who has given various principles of management including "Division of work", "Authority and Responsibility", "Discipline", "Unity of Command"? |
T.W. Taylor Jack Fayol F.W. Taylor None of the above |
None of the above |
In the development of classical school of management thought, Fayol’s administrative theory provides an important link. While Taylor succeeded in revolutionizing the working of factory shopfloor in terms of devising the best method, fair day’s work, differential piece-rate system and functional foremanship; Henri Fayol explained what amounts to a managers work and what principles should be followed in doing this work. The principles of "Henri Fayol" are:
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