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Principles of Management

1) The document discusses the principles of management as outlined by Henri Fayol and provides conclusions on how they are implemented at a retail company called Star Bazaar based on observations. 2) It analyzes principles such as division of work, stability of personnel, authority and responsibility, and concludes some are followed well while others like discipline and equity need improvement. 3) The summary evaluates how principles including unity of command, subordination of interests, and initiative are generally followed but esprit de corps is not strongly implemented.

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169 views17 pages

Principles of Management

1) The document discusses the principles of management as outlined by Henri Fayol and provides conclusions on how they are implemented at a retail company called Star Bazaar based on observations. 2) It analyzes principles such as division of work, stability of personnel, authority and responsibility, and concludes some are followed well while others like discipline and equity need improvement. 3) The summary evaluates how principles including unity of command, subordination of interests, and initiative are generally followed but esprit de corps is not strongly implemented.

Uploaded by

Veena
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 Shruthi Krishnan
XII B
INTRODUCTION
 Management principles are  Name of the company: star
fundamental principles of bazaar
truth of general validity which  Company head office:
have a value in predicting the Mumbai
results of management action.
 Company type: private
 Management principles are limited
guidelines for the decisions
and actions of managers.  Industry type: retail sector
 Management function is  Year of establishment: 1998
divided into five key roles:  Area of study: star bazaar
1. To plan and forecast/Planning Bangalore
2. To organize/Organizing  Annual sales: 790.03(in
crores)
3. To staff/staffing
 Present profit: -43.10(in
4. To direct/directing crores)
5. To control/Controlling
HENRY FAYOL
Division of work  Henri Fayol was a French
Authority and responsibility mining engineer, mining
executive, author and
Discipline
director of mines who
Unity of command developed general theory of
Unity of direction business administration that
is often called Fayolism.
Subordination of interests
 In 1860,Fayol started
Remuneration of employees working as a mining
Effective centralisation engineer.
Scalar chain  Based on the management
experiences he published a
Order
book called “administration
Equity industrielle et generale”.
Stability of personnel
Initiative
Espirit De Corpes
DIVISION OF WORK
It refers to dividing the work into compact jobs
and allocating these jobs to different individuals.

Conclusion based on company study


 In the company we can see that the work is
divided equally for each member of the company
according to their abilities and qualification.
So the principle is being followed leading to
better work environment.
STABILITY OF PERSONNEL
According to this principle, there should be
proper efforts to achieve staibility and continuity
of terms of personnel.

Conclusion based on company study


 From the company we can see that the
companies labour turnover is not at a suitable
rate.
 We can infer that the service of the employees is
not for a long time. Which shows a mis
management from the companies end.
AUTHORITY AND RESPONSIBILITY
 According to this principle, there should be a
proper balance between authority and
responsibilty.

Conclusion based on company study


 We can see that the employees have the
authority to discharge their responsibilities
regarding their work without any problems.
 It can therefore be said that the principles is
being implemented in the company
DISCIPLINE
Itrefers to obedience to rules and regulation of
the organization, which is necessary for systematic
working of the organization.

Conclusion based on company study


 During the observation we can see that
employees usually got into personal conversations
over the mobile and ignored the customers.
 So, the principles of management is being
violated here.
UNITY OF COMMAND
According to this principle, each subordinate
should receive orders and be accountable to one
and one superior.

Conclusion based on company study


 Majority of the employees receive orders from
only one boss and this has helped create better
communication between the superiors and the
subordinates
 Hence the company is following the principles.
UNITY OF DIRECTION
 Unity of direction implies that there should be
one head and only one plan for a group of
activities having same objectives.

Conclusion based on company study


 In this company there are three major division
which are headed by three different individuals.
 All the subordinates have to work according to
the heads commands which shows that there is
unity of direction.
REMUNERATION OF EMPLOYEES
 According to this principle, overall pay and
compensation should be fair to both employees
and organization.

Conclusion based on company study


 Almost fifty present of the employees are not
happy with what remuneration they are given.
 This shows that there can some improvement in
the remuneration rates of the company. There
is scope of better rates for the employees.
SUBORDINATION OF INTERESTS
 According to this principle, interest of the
organization as a whole must prevail over the
interest of the individuals or employees.

Conclusion based on company study


 According to the study we can see that the
employees of the company give top priority to
the general interests of the company over the
individuals interest.
 This shows that the company is successful in
subordinating the interest of the employees.
EFFECTIVE CENTRALISATION
 According to this principle, there should be
proper balance between centralization and
decentralization.

Conclusion based on company study


 In this company there is neither complete
centralization or complete decentralization.
 This shows that the company is following the
concept of effective centralization.
SCALAR CHAIN
 Organisation should have a chain of authority
and communication that runs from top to bottom
and should be followed by managers and the
subordinates.

Conclusion based on company study


 Majority of the employees of the company do
not communicate directly with the boss of their
boss.
 This shows that scalar chain is being followed.
ORDER
 According to this principle, there should be a
place for everything and everyone.

Conclusion based on company study


 It was seen that all the units had their goods
neatly arranged, scattered goods are
immediately restored and employees were seen
working in their allotted area.
 So, order is being maintained in the company.
EQUITY
 According to this principle, there should not
any discrimination among employees on the
basis of religion, language, caste, belief or
nationality.

Conclusion based on company study


 From the observation we can say that not all
the employees feel equal in the companies work
structure.
 This shows that the company should work
towards a more equal work environment.
INITIATIVE
 According to this principle, workers should be
encouraged and given an opportunity to take
some initiative in making and executing the
plans.

Conclusion based on company study


 The company gives importance to their
employees opinions.
 This encourages and builds the confidence of
the employees.
 So, the company follows the principle of
initiative.
ESPIRIT DE CORPS
 According to this principle, management should
take reasonable steps to develop a sense of
belongingness and feeling of team spirit among
employees.

Conclusion based on company study


 Usually the managers are seen using ‘I’ instead
of ‘we’.
 We could also see that the managers did not
treat their subordinates equally.
 The principle of espirit de corps is not being
followed.

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