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Principles of Management XII BST

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48 views7 pages

Principles of Management XII BST

Uploaded by

yashikatewatia85
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Principles

Of
Management

-By Yashika Tewatia


XII-Q , DPSRKP
INDEX
S.No. CONTENT Pg. no.
1. Introduction to
management
2. About henri fayol
3. Details of Trends Reliance
Store
4. Objectives of study
5. Application of fayol’s
priniciples of management
in Trends store
6. Analysis and observations
(questionnaire)
7. Concluaion
Introduction To management
(about 5 pages)

Management is universally necessary in all


organization. It is the force that holds everything in
nation. Management is the mobilization of an
organization’s resources to meet agoal.
Management is virtually applied to every type of
organization, whatever its size or purpose. For
Example: - An auto plants, a state governor, a cricket
team, a typing service, all requires management.
When a group of people work together to
accomplish somecommon goal, they can work
efficiently only, when there ismutual co-operation
and co-ordinate between them.Therefore, a Central
directing and Controlling agency isrequired for
guiding and integrating the efforts of thenumbers of
the group. This agency comprises the managersand
the activities of managers are collectively
calledmanagement

1)Principles of management : The concept , nature ,


significance.
About Henri Fayol
(2 pages)
Born : 29 july 1841 , Istanbul ,Turkey
Died : 19 November 1925, Paris, France
Profession : Mining Engineer and Management the unit
(FrenchNational)
Education : Graduated from the mining academy "École
NationaleSupérieure des Mines" in Saint-Étiennein 1860.
Position Held: “Founded the mining company”
“Compagnie deCommentry-Fourchambault-Decazeville" and
became itsmanaging director in 1888. At that time the
company was nearlybankrupt. By the time of his retirement
after 30 years in 1918, thecompany grew into a large coal
steel company with strongfinancial position and a long
record of profit and dividends.
Writings: Administration industries at generate
Contributions: He classified all activities of an
industrialundertaking into technical, commercial, financial,
security,accounting and managerial.He suggested that
qualities of a manager must possess should bephysical,
moral, education, experience etc.He was the first to
identify five functions of management:
1. Planning 2.Organizing
3. Staffing 4.Directing
5.Controlling

Principles of management
1. Division of work - In practice, employees are specialized in different areas
and they have different skills. Different levels of expertise can be
distinguished within the knowledge areas.
2. Authority and Responsibility - or authority gives the management the
right to give orders to the subordinates.
3. Discipline - This principle is about obedience. It is often a part of the core
values of a mission and vision in the form of good conduct and respectful
interactions.
4. Unity of command - Every employee should receive orders from only one
superior or on behalf of the superior.
5. Unity of direction - Each group of organisational activities that have the
same objective should be directed by one manager using one plan for
achievement of one common goal.
6. Subordination of Individual Interest to General Interest - The interests of
any one employee or group of employees should not take precedence
over the interests of the organisation as a whole.
7. Remuneration - All Workers must be paid a fair wage for their services.
The wages paid must be as per a certain standard of living to the
employee at the same time it is within the paying capacity of the
company.
8. Centralization and Decentralization - This refers to the degree to which
subordinates are involved in decision making.
9. Scalar chain - The line of authority from top management to the lowest
ranks represents the scalar chain. Communications should follow this
chain. However if someone needs to communicate some other person in
emergency he/she might use "Gang Plank". ≤Fayol suggested the
concept of ‘Gang Plank’ to avoid delays and allow direct communication
between two subordinates at the same level.≥
10. Order - this principle is concerned with systematic arrangement of men,
machine, material etc. There should be a specific place for every
employee in an organization. That is 'a place for everything (people) and
everything has a place'.
11. Equity - All the employees in the organization must be treated equally
with respect to the justice and kindliness.
12. Stability of tenure of personnel - High employee turnover is inefficient.
Management should provide orderly personnel planning and ensure that
replacements are available to fill vacancies.
13. Initiative - Employees who are allowed to originate and carry out plans will
exert high levels of effort.
14. Esprit de Corps - Promoting team spirit will build harmony and unity within
the organization.
TYPE : Clothing store
Industry : Retail
Founded In : 2006
Head Quarter : Mumbai , Maharashtra
Key people : Akhilesh prasad (CEO) , headed by : Anil Ambani
Website : www.trends.ajio.com

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