![]() ![]() ![]() ![]() Method Study: The objective of method study is to find out one best way of doing the job.Development of each and every person to his or her greatest efficiency and prosperity.Meaning of Scientific Management: Scientific Management means application of science to the management. Espirit-De-Corps: Management should promote a team spirit of unity amongst the employees.Initiative: Initiative means taking the first step with self-motivation.Stability of personnel: Personnel should be appointed after due procedure and once they are selected they should be kept at their position for sufficient time.Equity: All the employees of an organisation should be treated equally and fairly.Order: According to this principle people and Material must be in their appropriate place at appropriate time.Scalar Chain: An organisation consists of superiors and subordinates.Centralisation and decentralisation: Centralisation refers to concentration of authority at one level whereas decentralisation refers to distribution of authority among more than one person.Remuneration of Employees: Pay and compensation plans should be fair to both employees and the organisation.Subordination of Individual Interest to General Interest: The interest of an organisation should get priority over the interest of an individual.Unity of Direction: All the related activities of the business organisation should be grouped in one department & each department should have one head for one plan.Unity of Command: According to this principle, every employee should get orders from one superior only & he should be responsible to only on superior.Discipline: According to this principle there should be clear & fair agreements.Authority and Responsibility: Authority means right to take decisions and responsibility means being responsible to perform the job.Division of Work: Work is divided into small tasks or jobs and these jobs should be given to competitive persons.Management Training, Education & Research.Meeting changing Environment Requirements.Optimum utilization of resources & Effective Administration.Providing Managers with Useful Insights into Reality.Meaning of principles of Management: They are the general guidelines for decision making and behavior. NOTES Chapter 2: Notes on Principles of Management ![]()
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