Principles of Management
Mr.
Henri Fayol
·
Called Father of Management
·
Developed 14 Principles
·
Gives general guidelines for ‘managerial decision making’
Frederick
Winslow Taylor
·
Called Father of scientific
management.
·
Concerned about factory
inefficiency due to the reason he developed scientific principles.
·
Insist about the application of
scientific principles and adopt
systematic management technique.
·
Disregard the rule of thumb and trial and error method.
Management Principles
·
A fundamental truth that
provides a guide to thought and action.
·
Gives a broad understanding of
general guidelines and decision making.
Nature
1.
General guidelines.
2.
Contingent or depend upon some external
factor.
3.
Formed by intense practice & experimentation.
4.
Having cause & effect
relationship.
5.
Universal applicability.
6.
Flexible (i.e. modified as per
need).
Importance
1.
Improves Understanding (about
the internal management of the organisation).
2.
Direction for Training of
Managers.(helps to finding out the area that where we find out our futuristic
managers).
3.
Role of Management.(just like a
guide tells what a manager is expected to do in a particular situation).
4.
Guide to Research in Management
(various research are being possible due to the applicability management
principles).
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