Getting knowledge about Principles in Management is important for you. So, before you achieve your target positively, you just need to understand the meaning of Principles of management. Let us discuss about each principle related to management. It will surely give you an excellent solution as these are 14 in numbers. These are as follows-
- Division of work â€“
Management is itself a large part. But, this principle says that you just need to divide the complex or a whole work in small parts. Each part must be provided to its eligible person. So, know the exact person according to his skill and then provide its work.
- Discipline â€“
Each person of a company must have a proper discipline. Thus, obedience along with respect for others must be there in an organization. This must be there with each person to develop the ability of a company.
- Authority and Responsibility â€“
This is very important for you to understand that term authority means right of Senior or superior one to its junior or subordinates. However, responsibility indicates about each workerâ€™s exact reliability of its work. It must be perfect and understandable by all.
- Unity of Command â€“
Suppose a work or project is provided and it needs to give command related to it, then its grip must be there only over a single person. In case more than one starts giving command, then the person may get confused. Thus, unity of command must be perfect.
- Unity of Direction â€“
What are the relevant actions or happenings? What are its effects? These must come under a single group. Control must be there under a single manager and action of them must become for a single person.
- Remuneration â€“
It indicates that each worker must get his payment sufficiently. This is one of the perfect ways of getting motivation for them. It is understandable that each worker works for the bucks and thus it is completely genuine that if they do not get perfect payment, then they will not in a proper way.
However, it depends on different conditions, students who study about this must have a perfect knowledge of statistics while creating proper way of diving remuneration. Students always try to know about â€œHow can you score a ten on ten in Statistics?â€ and if they understand it then preparation of remuneration is very easier.
- Mutual interest should be there â€“
Subordination of Individual Interest must be converted to Mutual Interest. It is one of a perfect ways of getting an exact solution for a companyâ€™s requirement. This principle indicates that how to develop a companyâ€™s reputation.
- The Degree of Centralization â€“
What the manager takes decision for its better result. Centralization of a company specifies that what the central or the chief decides about each serious matter. Authority is important for making any serious decision. One important thing is size of a company. If there is a small company, then making decision by its authority would be just according to its limitation of work and only a single person is sufficient. However, for a large company, it is very important for them to consult first with other managers and then they make the proper decision to get its suitable result.
- Authorityâ€™s Line â€“
This is also known as scalar chain and it indicates that for an organization there is an authorityâ€™s line. It means the power or right of a person starts ranging from the top to the bottom or from the highest rank to the lowest rank. This creates a line for a person.
- Order â€“
Order does not mean to signify about any social instruction. If senior orders to his junior then it should be followed, but a senior person must understand that orders must follow a companyâ€™s rule and regulation. It should not be taken as a personal problem.
- Equity â€“
This shows that justice must be there and no way of getting partiality with employees. This is a workplace, so everything should be done in an equal way. Moreover, managers must treat equally and attention should be equal for each one.
- Constancy of tenure of a person â€“
It must be followed by each one specially manager that they should follow a proper rule. They should not exit or enter into the company as per their own requirement.
- Initiative â€“
This is very important for an organization to understand that how to get new ideas. If you get new views or opinions to enhance a company from other employees, then this will create a lot convenience for an organization to work in a better way. This gives an excellent strength to the employees to share their views with the company.
- Team Spirit â€“
It is very important to enhance the spirit in employees. It also develops to create a nice environment for each employee. Spirit is an exact motivation to the employees.
Now, you just need to go through the above principles. These principles are significant for each student to understand the matter. It is also important that how to explain each term. If you are unable to understand you can easily ask the faculty. Practically, it is important, and if a student desires to go through its depth, then he must solve the various problems of their assignments. It must be practiced properly. Now, it is completely clear that why the principles of management assist a company to work positively. You will get the exact meaning if you go through different projects related to it.