Principles of management

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
14 Principles of Management

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.