Management involves the activities taking place fluently and smoothly in an organisation without any unnecessary expenses. Management is included in the factors of production along with Money, Materials and Machinery. It focuses on getting the work done by others to achieve the goals. Management is considered both Science and art and is an essential part of Organisation because it is a means of getting work done through others. Effective Management is the backbone for the expansion and success of an Organisation. To become successful a manager has to perform the task of managing budget, managing people and managing the expectations.
LEVELS OF MANAGEMENT
Management is the process of creating an environment, where individuals work in a team cooperating to achieve the objectives and goals of the Organisation. It involves three levels of management, Top-level Management, Middle-Level Management and Lower-Level Management. Top-Level Management includes the Board of Directors and Chief Executive Officers. The middle level includes the Managers and the lower level involves the Subordinates. It involves several functions like Planning, Organising, Staffing, Directing, Controlling and coordinating all these functions are effectively applied to achieve the desired results in an Organisation.
PRINCIPLES OF MANAGEMENT
A classic theory of Principles of Management by Henry Fayol is described below.
- Division of Work – The Principle is based on the theory of Specialization where a person has a specialised role according to his skills in an Organisation.
- Unity of Command -This Principle states that there should be a proper chain of command an employee should know to whom he is accountable.
- Unity of Direction – The employees of the Organisation must work in harmony towards the same goal and follow the same procedure to attain the objective.
- Subordination of Individual Interest to Common Interest – The interest of the Organisation must be preferred over the interest of the individuals.
- Discipline – This Principle states that Discipline is essential in an Organisation. Respect and trust must be established among workers and Superiors to maintain discipline in the Organisation.
- Authority– This Principle states that Authority is an essential element of Management. If the manager lacks Authority then he would not be able to control the work done by the subordinates because authority and responsibility go hand in hand.
- Centralisation– The different decisions are either made from top to bottom centrally or bottom to top and both of them are adequate according to the structure of the Organisation.
- Remuneration – The employees should be paid a reasonable rate because it motivates employees to work.
- Initiative – Employees who complete their work or target within time and in the best way stay motivated and feel respected.
- Morale -Employees with high morale are more productive and a high level of morale and effective team spirit is an important part of Organisational effectiveness.
- Equity – This Principle states that every organisation has policies and procedures that outline the expectations from the employees and superiors must behave ethically with the employees they manage.
- Order – This Principle states the effective use of resources and their placement. It ensures the right thing at the right place at right time.
- Scalar Chain – This focuses on the chain among employees and managers. It should be clear and effective for communication and the chain of communication must be followed and it can be bypassed with the consent of all parties.
- Esprit de Corps – It means “Team Spirit”. It focuses on greater unity, higher motivation and cooperation. Motivated employees contribute positively to the Organisational goals.
These are 14 Principles of Management by Henry Fayol, these Principles provide insight to the superiors to run an Organisation effectively. You can also take online assignment help Australia to understand the topic easily.
CONCLUSIONClear and effective management is essential for the growth and achieving the objectives of the Organisation. The main motive of management is to manage the enterprise and develop new strategies according to the market innovations to achieve the objectives effectively. It involves planning and decision making to coordinate the activities to achieve the goals of the business, it is a dynamic function and adapts according to the changing environment. Now you can also take cheap assignment help to make assignments on management topic and get highest scores.