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Principle of Management Essay

Many students in Singapore are opting for MBA and other Management courses as it provides diversifiable career options afterward.

The three basic fields of Management is Finance Management, marketing management and human resources management.

Student performance is evaluated through continuous assessment and final examination. Students are asked to submit various assignments, essay writing, case study, report writing, research papers as a part of assessments.

These assessments carry substantial weight age in the final marks which are to be submitted to the assigned tutor within the deadline. Students find it difficult to write assignments for themselves due to their busy schedule therefore they go online and search for management assignment help.

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Defining Principles of Management

Principles of management are defined as a set of activities that are used to organize, plan and control the various operations related to money, materials, markets, methods and machines.

It helps in providing coordination, direction and leadership required to manage human efforts to achieve the set of predefined objectives formulated by the organization.

The principles of management features are stated below

  • They are Universal
  • Are Flexible
  • Have Cause and effect relationship
  • Are Directed towards influencing human behavior

Functions of the Principles of Management (POLC framework)

  1. Planning: it includes strategizing of mission, vision, objectives and goals as defined by the organization
  2. Organizing: it includes the development of organization design, social networks and culture
  3. Leading: it involves leadership styles, Communications, the formation of teams and Groups, decision making and motivation
  4. Controlling: it involves control of processes and Systems. Deals in Analysis of strategic human resources working in the organization

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Theory of principles of management

This Classic theory was developed by Henry Fayol. In this theory, management is divided into 14 principles.

The fourteen principles are as follows

  1. Division of work: the dividing of work among the employees improves efficiency, quality and productivity. It leads to specialization, speed and accuracy of the employees
  2. Discipline: good conduct and behavior by the employees. It will help management in working efficiently and smoothly.
  3. Unity of direction: all the managers and employees should work for the unified goal as directed by the organization
  4. Remuneration: reward for an effort either monetary or non-monetary to the employees to keep them motivated
  5. Scalar chain: the organization should define a clear line of the hierarchy so that employees must know their immediate senior. They should have flexibility in contacting any supervisor but can have one boss to whom to report.
  6. Equity: respect and equality for all employees and no discrimination at the workplace
  7. Initiative: the organization should encourage employees to take initiatives regarding work and projects that will help them feel associated with the business
  8. Authority and responsibility: allocation of work to the subordinates accompanied by their individual responsibility for which they are accountable to.
  9. Unity of command: employee should be answerable to one Boss and not many in order to avoid conflict of interest
  10. Individual interest subordination: employees should avoid their personal interest and should work according to the interest of the organization
  11. Degree of centralization: decision making should be centralized and not arbitrary. An organization should strike the balance between the division of power and hierarchy
  12. Order: the right environment and the proper order to maintain the work will boost productivity in the employees and in turn can work for the betterment of the company.
  13. Stability of personnel tenure: it includes job security of the employees and minimizing employee turnover rate.
  14. Esprit de corps: all the teams should co-operate with each other and there should be trust and motivation among the employees and groups.

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The significance of principles of management

The most vital factor for any successful organization is to have a clear-cut management structure.

Effective and efficient management sets the right example for the entire staff.

Furthermore, it helps an organization to achieve its aims and goals.

It helps the company’s management in achieving the four basic functions that are organizing, controlling, planning and leading.

Some key points are

  • Effective administration
  • Optimum resources utilization
  • Adaptation to changing business environment
  • Fulfilling social responsibility
  • Education, research and management training

Conclusion

People involved in business have perfect creative thinking and leadership style. To summarize principles of management throw lights on different types of constraints in the business environment. Managers are expected to understand the value of teamwork, leadership and group activities.

Moreover, all these activities should be in proper alignment with the diverse working environment.

Here arises a question of whether these principles of management work for every business and organization or else there are any exceptions?

Therefore managing an Organization of the business is in itself a very complex task that involves the use of appropriate tools, Strategies and tactics.

Apart from these students are also asked to write essays on other topics related to management like principle of project management essay, service quality management essay and others.

Studying for the final examination and writing of these assignments from the beginning brings students in a state of confusion.

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