Basic principles and functions of management

Management is a set of principles relating to the functions of planning, organizing, directing and controlling, and the application of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organizational goals. Basic principles and functions of management are listed below.

Management Principles:

▪️Division of Work –
This principle of management is based on the theory that if workers are given a specialized task to do, they will become skillful and more efficient in it than if they had a broader range of tasks. Therefore, a process where everyone has a specialized role will be an efficient one.
▪️Authority –
This principle looks at the concept of managerial authority. It looks at how authority is necessary to ensure that managerial commands are carried out. If managers did not have authority then they would lack the ability to get work carried out. Managers should use their authority responsibly and ethically.
▪️Discipline –
This principle relates to the fact that discipline is needed within an organization for it to run effectively.
▪️Unity of command –
There should be a clear chain of command in place within an organization. An employee should know exactly whose instructions to follow.
▪️Unity of direction –
Work should be organized in a way that means employees are working in harmony toward a shared objective or goal using a shared method or procedure.
▪️Subordination individual interests to the collective interests –
The interests of the organization as a whole should take precedence over the interests of any individual employee or group of employees. This encourages a team spirit and collective mentality of all for one and one for all.
▪️Remuneration –
To motivate and be fair to employees, they should be paid a reasonable rate for the work they carry out. An organization that underpays will struggle to attract motivated quality workers.
▪️Centralization –
This principle relates to whether decisions should be made centrally, as in from the top down, or in a more democratic way, from the bottom up. Different decision making processes are appropriate for different types of decisions.
▪️Scalar chain –
This relates to the principle of a clear chain of communication existing between employees and superiors. The chain should be respected, unless speedy communication is vital, in which case the chain may be bypassed if all parties consent.
▪️Order –
This relates to the proper use of resources and their effective deployment in a structured fashion.
▪️Equity –
Managers should behave ethically towards those they manage. Almost every organization in the modern world will have a written set of policies and procedures which will outline exactly what is expected from staff at all levels.
▪️Stability of tenure of personnel –
It is seen as desirable within an organization to have a low staff turnover rate. This is due to the benefits that come with having experienced staff and the time and expense needed to train new ones.
▪️Initiative –
Employees that have an input as to how to best do their job are likely to feel more motivated and respected. Many organizations place a great deal of emphasis on listening to the concerns of staff.
▪️Morale –
Keeping a high level of morale and team spirit is an essential part of having the most productive organization possible. Happy and motivated employees are far more likely to be productive and less absent.

Various Functions:

⚫Planning
One main role of a manager is creating a plan to meet company goals and objectives. This involves allocating employee resources and delegating responsibilities, as well as setting realistic timelines and standards for completion. Planning requires those in management roles to continuously check on team progress to make small adjustments when necessary, while still maintaining a clear picture of a company’s larger aims and goals.
⚫Organizing
Along with planning, a manager’s organizational skills can help to ensure a company or departmental unit runs smoothly. From establishing internal processes and structures to knowing which employees or teams are best suited for specific tasks, keeping everyone and everything organized throughout daily operations are important functions of management.
⚫Leading
Managers should be comfortable and confident commanding their team members’ daily tasks as well as during periods of significant change or challenge. Leadership can manifest itself in several ways, including recognizing when employees need an extra boost of reinforcement and praise to handling conflicts between team members fairly and decisively.
⚫Controlling
To ensure all of the above functions are working toward the success of a company, managers should consistently monitor employee performance, quality of work, and the efficiency and reliability of completed projects. Control (and quality control) in management is about making sure the ultimate goals of the business are being adequately met, as well as making any necessary changes when they aren’t.
In conclusion, management skills and functions are an important attribute of an organization that can make or break it. The contemporary theories of management assist managers in effectively carrying out their jobs keeping in mind the emerging trends and the factor of uncertainty.

So these were the basic principles and functions of management. If you want to find out more about about the functions of management follow this link – Functions of management

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Written by – Priyanka Jha