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Meghna Thapar 4 years, 11 months ago
In organizations, planning can become a management process, concerned with defining goals for a future direction and determining on the missions and resources to achieve those targets. To meet the goals, managers may develop plans such as a business plan or a marketing plan. ... Planning reduces risks.. Planning is the process of thinking about and organizing the activities required to achieve a desired goal. ... Planning is also a management process, concerned with defining goals for a company's future direction and determining the missions and resources to achieve those targets.
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Yogita Ingle 5 years, 5 months ago
- Order: Orderliness principle focuses on right arrangement of things. Everything and everyone should be at their respective places, in short ‘right people at right place and at right time’. This helps in carrying out the tasks smoothly. For example, if files are kept in a certain order then this will help in locating the file easily when required. Violation of this principle leads to chaos and delay in work.
- Initiative– According to this principle, workers should be given enough motivation and incentive to work. They should be inspired to come up with suggestions for regarding the work. Although initiatives should be encouraged, but they should be in line with the practices and rules of the organisation. For example, the managers can ask the workers for their inputs over how to increase efficiency. Also, good suggestions can be rewarded
- Espirit de Corps: This principle recommends that employees should work in unity with each other. They should work as a team. In other words, team spirit should be promoted by the manager. Each employee should have a sense of belongingness. This proves useful especially in large organisations where without team work, achievement of objectives would become difficult. Team sprit increases coordination and mutual understanding among the employees and thereby improves efficiency.
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Yogita Ingle 5 years, 5 months ago
Demonetization is a process of stripping a currency unit of its status as a legal tender. In simple words, demonetized notes are no longer valid as legal currency. Usually, a new currency replaces the old currency unit/s.
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Basis | Henry Fayol | F.W. Taylor |
Meaning | Henry Fayol, father of modern management contributed fourteen management principles, accomplishing managerial efficiency. | F.W. Taylor, father of scientific management contributed four management principles, for enhancing overall productivity. |
Concept | The general theory of management | The scientific theory of management |
Concentrated | Top-level management | Low-level management |
Approach | Top management based on top downward approach. | Supervisory viewpoint and bottom upward approach |
Focus | Focused on delivering managerial efficiency. | Increasing productivity of labour |
Theory-based on | Personal experience | Observation and experiment. |
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Pratham Kumar 5 years, 5 months ago
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