🏛️ Nature and Characteristics of Principles of Management 📜
💡 Meaning
Principles of management are the fundamental guidelines that managers follow to manage an organization effectively. No manager can be effective without adhering to these principles. Therefore, managers in all organizations—whether large or small, business or non-business, and at all levels (top, middle, and lower)—must follow the principles of management.
🧭1. Basic Guidelines
These principles provide essential guidelines for managers to manage their subordinates effectively. If managers follow the well-established principles of management, they are in a better position to get work done efficiently and effectively from their teams.
🌍2. Universal Applicability
Principles of management are applicable not only to business organizations but also to non-business organizations. For instance, these principles must be followed by managers in hospitals, educational institutions, charitable trusts, and other non-profit entities.
📊3. Applicable at All Levels
The principles of management must be followed by managers at all levels of the organizational hierarchy. These guidelines are crucial for effective management, whether at the top, middle, or lower levels, ensuring consistency and good practice throughout the organization.
🏢4. Applicable to All Business Sizes
The principles of management are applicable not only to large organizations, such as joint-stock companies, but also to small ones like sole proprietorships. It is necessary for a sole trader to follow these principles to satisfy customers and run the organization successfully.
⏳5. Time-Tested
The principles of management are time-tested. The basic principles have remained consistent for centuries (although Henri Fayol first published the list of 14 Principles in 1916). These principles have been practiced and validated by people over a long period.
⚙️6. Ensures Smooth Operations
The principles of management ensure the smooth working of an organization. For instance, principles like division of work, team spirit (esprit de corps), and order enable an organization to conduct its activities in a systematic and successful manner.
⚖️7. Situational in Nature
Certain principles of management may be applied differently depending on the situation. For instance, a manager might not delegate authority to subordinates if they lack knowledge of a particular task. In such a situation, the manager must first train the subordinates before delegating authority.
🧠8. Intangible
The principles of management are not directly visible. Their effects, however, can be felt through the results. If managers follow these principles, the organization can achieve better outcomes, such as:
- Reduction of waste
- Optimum use of resources
- A motivated and dedicated workforce
- Higher overall efficiency