Unity of Command Principle The principle of unity of command states that an employee should always get instruction or command from one in charge at a time. This principle of management aims to reduce the confusion of the employee when he receives instructions from many supervisors. This principle believes that no one is capable to…
Discipline Principle The discipline principle of management means respecting the rules and regulations of the organization and behaving the way the organization wants to. Discipline is one of Fayol’s 14 principles of management. Fayol’s emphasized that discipline in the organization is a must for organizational success. Regardless of position, level, or whether he is top…
Authority and Responsibility Principle Authority and responsibility are two important tools of management yet they are dependent and related to each other. At the core of this principle is that there should be a reasonable balance between given authority and responsibility. Authority is the power that can be used to command, make decisions, and get…
What are the Principles of Management? Principles of management are the basic guidelines for effectively and efficiently running the organization. They are the essence of management, applicable universally, and are the results of thorough research, observation, and practice. These principles guide managers on how to conduct activities in the workplace according to their responsibility. They…
What will you do if a whole task is given to you and you even do not have expertise in this task? Probably you can not perform that task easily and effectively. The solution to this problem is a division of work. What is the Principle of Division of Work? The principle of division of…
Objectives of Management The objective of management can be referred to as its basic goals. Primarily talking about objectives of management are the decisions, actions, and practices taken by management to bring smoothness and productivity to the organization. Management has an important role in the prosperity and progress of the business by handling the company’s…
Importance of Management Why management is important? In this modern yet competitive business environment, the importance of management can not be ignored since every organization’s fundamental success factor is effective management. Do you know, that almost 90% of startups fail during the first five years of their operation – there are many reasons these startups…
Features/Characteristics of Management Management is a means to optimally guide men, machines, materials, money, and methods in a way that assures the accomplishment of desired goals. Management is a fundamental aspect of an organization and has various characteristics/features. The significant characteristics of management are mentioned below: Goal Focused The first characteristic of management is that…