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Meaning

Management is a process of planning, decision making, organizing, leading, motivation and controlling the human resources, financial, physical, and information resources of an organization to reach its goals efficiently and effectively.

Definition

Mary parker Follet defined management as “the art of getting things done through others”

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Features or characteristics

Goal Oriented
Economic Resources
Distinct process
Intangible force
Results through others
A science and an art
System of authority
Universal Application
Multi-desciplinary subject
Universal application.

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14 Principles of management

Fayolism is one of the first comprehensive statements of a general theory of management, developed by the French management theorist Henri Fayol (1841–1925): one of the most influential contributors to modern concepts of management.

Fayol has proposed that there are five primary functions of management:

(1) Planning,

(2) Organizing,

(3) Commanding,

(4) Coordinating and

(5) Controlling.

Fayol's work has stood the test of time and has been shown to be relevant and appropriate to contemporary management

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6 type of operation

For Fayol any organisation can be subdivided into six types of operations. Each operation being fulfilled by its corresponding essential function:

1. Technical Operations (production, manufacturing, transformation)

2. Commercial Operations (purchases, sales, exchanges)

3. Financial Operations (seek for capital and finance management)

4. Security Operations (protection of goods and people)

5. Accounting Operations (balance, P&L, cost control, statistics, etc)

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Principles of Henry Fayol

1.Division of work: Reduces the span of attention or effort for any one person or group. Develops practice or routine and familiarity.

2. Authority: "The right to give orders. Should not be considered without reference to responsibility."

3. Discipline: "Outward marks of respect in accordance with formal or informal agreements between a firm and its employees.“

4. Unity of command: "One man one superior!“

5. Unity of direction: "One head and One plan for a group of activities with the same objective."

6. Subordination of Individual Interests to the Common Interest: "The interests of one individual or group should not prevail over the general or common good.“

7. Remuneration of personnel: "Pay should be fair to both the worker as well as the organization."

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8. Centralization: "Is always present to a greater or lesser extent, depending on the size of the company and the quality of its managers."

9. Scalar chain: "The line of authority from top to bottom of the organization."

10. Order: "A place for everything and everything in its right place; ie. The right man in the right place."

11. Equity: "A combination of kindness and justice towards employees."

12. Stability of personnel tenure: "Employees need to be given time to settle in to their jobs, even though this may be a lengthy period in the case of some managers."

13. Initiative: "Within the limits of authority and discipline, all levels of staff should be encouraged to show initiative."

14. Esprit de corps (Union is strength): "Harmony is a great strength to an organization; teamwork should be encouraged."

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Principles of Scientific Management by F.W. Taylor:�

F.W. Taylor or Fredrick Winslow Taylor is also known as the ‘father of scientific management’ proved with his practical theories that a scientific method can be implemented to management. Taylor gave much concentration on the supervisory level of management and performance of managers and workers at an operational level. Let’s discuss in detail the five(5) principles of management by F.W Taylor.

Science, not the Rule of Thumb- This rule focuses on increasing the efficiency of an organisation through scientific analysis of work and not with the ‘Rule of Thumb’ method. Taylor believed that even a small activity like loading paper sheets into boxcars can be planned scientifically. This will save time and also human energy.

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Harmony, Not Discord- Taylor indicated and believed that the relationship between the workers and management should be cordial and complete harmony. Difference between the two will never be beneficial to either side. Management and workers should acknowledge and understand each other’s importance.

Mental Revolution- This technique involves a shift of attitude of management and workers towards each other. Both should understand the value of each other and work with full participation and cooperation. The aim of both should be to improve and boost the profits of the organisation.

Cooperation, not Individualism- It is similar to ‘Harmony, not discord’ and believes in mutual collaboration between workers and the management. Managers and workers should have mutual cooperation & confidence and a sense of goodwill.

Development of Every Person to his Greatest Efficiency- The effectiveness of a company also relies on the abilities and skills of its employees. Thus, implementing training, learning best practices and technology, is the scientific approach to brush up the employee skill.

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Hawthorne experiment

In 1927, a group of researchers led by George Elton Mayo and Fritz J. Roethlisberger at the Harvard Business School were invited to join in the studies at the Hawthorne Works of Western Electric Company, Chicago. The experiment lasted up to 1932. Earlier, from 1924 to 1927, the National Research Council made a study in collaboration with the Western Eclectic Company to determine the effect of illumination and other conditions upon workers and their productivity

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