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PRINCIPLES OF MANAGEMENT NOTES IN HINDI PDF FULL

Scalar Chain: – The chain of command, sometimes called the scalar chain, is the formal line of authority, communication, and responsibility within an organization.

Henri Fayol stressed on the point that there should be a balance between the hierarchy and division of power.

However, this depends on the size of an organization. Centralization: – In any company, the management or any authority responsible for the decision-making process should be neutral.Remuneration should be based on a systematic attempt to reward good performance. It should include both financial and non-financial incentives. This policy should give maximum satisfaction to both employers and employees. If an organization wants efficient employees and best performance, then it should have a good remuneration policy. Pay should be fair to both the employee and the firm. Remuneration: – Remuneration is the price for services received.The interest of the organizational goal should not be sabotaged by the interest of an individual or on the group. The individual interest should be given less importance, while the general interest should be given the most importance. Subordination of Individual Interests to the General Interest: – The interest of one individual or one group should not prevail over the general good.For example, all marketing activities such as advertising, sales promotion, pricing policy, etc., must be directed by only one manager. All activities which have the same objective must be directed by one manager, and he must use one plan. Unity of Direction: – Unity of direction means activities aimed at the same objective should be organized so that there are one plan and one person in charge.This decreases the possibilities of “Dual subordination” which creates a problem is a function of managers. It helps in preventing dual subordination. To put it another way, a subordinate must report to only one superior. Unity of Command: – According to this principle, a subordinate (employee) must have and receive orders from only one superior (boss or manager).To establish discipline, good supervision and impartial judgment are needed. The works must respect the rules that run the organization. No slacking or bending of rules is allowed in any organization. Discipline may be Self-discipline, or it may be Enforced discipline. Discipline: – Discipline means respect for the rules and regulations of the organization.If responsibility is more than authority then he may feel frustrated. If the authority is more than responsibility then chances are that a manager may misuse it. The right to give orders should not be considered without reference to responsibility. According to Henri Fayol, there should be a balance between Authority (Power) and Responsibility (Duties).

Balancing Authority and Responsibility: – Authority must be equal to Responsibility.Division of work leads to specialization, and specialization helps to increases efficiency and efficiency which results in improvements in the productivity and profitability of the organization.

PRINCIPLES OF MANAGEMENT NOTES IN HINDI PDF FULL

Division of Work: – Dividing the full work of the organization among individuals and creating departments is called the division of work.

What are 14 Principles of Management by Henri Fayol?ġ4 principles of management by Henri Fayol are universally accepted guidelines for managers to do their job according to their responsibility. Here, in this case, we can say A’s management is effective. If ‘A’ completes his task within the span of two years.

For example: – Keeping in mind the above example, suppose, ‘A’ got two years’ time period for the construction of flyover.

It is basically to complete the task on time.

The estimated target for the same is 1000 crores and ‘A’ completed the construction of flyover in 900 crores.

For example: – ‘A’ got a task of construction of the Flyover.

Management is the process of getting things done from others to achieve goals effectively and efficiently. This is a traditional approach to management using the leading, planning, organizing, and controlling approach. All the activities whether related to decision making or implementation of such decisions are performed by the managers with the purpose of achieving common goals. Principles of Management is designed to meet the scope and sequence requirements of the introductory course on management. Meaning of Principles of Management: – Principles of management is what a manager does within the organization. What is the meaning of principles of management?