Principles of management are the function of an industrial undertaking that organizes, directs, and controls various activities of the enterprise directed towards specific ends ( objective).
- ‘Principles of management ‘ implies a list of current management practices,
- Through F.W.Taylor developed principles of Management, Credits to Henry Fayol, a French management theorist for advocating and publishing certain principals (or laws) for the soundness and good working of the management.
- Henry Fayol warned that the principles of management should be.
- Flexible and not absolute –must be usable regardless of changing conditions.
- Used with intelligence and with a sense of proportion, etc.
- Henri Fayol listed 14 principles that grew out of his experience: they are briefed under
Objective of Management
The main objective of any management guidelines is ,
- TO have co-ordination between various agencies
- To effect economy and efficiency in execution.
- To exercise control of the quality and workmanship of the materials.
- To check and control the quality of the materials.
- To reduce the time period of execution of activities, and
- To achieve optimum utilization of various resources.