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Management in businesses and organizations is the function that coordinates the

efforts of people to accomplish goals and objectivesby using available resources


efficiently and effectively.
Management includes planning, organizing, staffing, leading or directing,
and controlling an organization to accomplish the goal or
target. Resourcing encompasses the deployment and manipulation of human
resources, financial resources, technological resources, and natural resources.
Management is also an academic discipline, a social science whose objective is to
study social organization.
Management operates through five basic functions: planning, organizing, coordinating,
commanding, and controlling.[22]

Planning: Deciding what needs to happen in the future and generating plans for
action(deciding in advance).

Organizing: Making sure the human and nonhuman resources are put into place

Coordinating: Creating a structure through which an organization's goals can be


accomplished.

Commanding: Determining what must be done in a situation and getting people


to do it.

Controlling: Checking progress against plans.

(1) Provide Useful Insight to Managers:

The principles of management were developed on the basis of the


experience of various professional people. The principles make the
manager aware about the manner in which he should act in various
situations so that he does not repeat the mistakes of the previous
managers.
In this way, timely guidance reduces the wastage of resources and
the objectives can be achieved in a less expensive manner.
For example, according to one principle of management, i.e.,
division of work, a job is divided into many small units. Every unit or
part is assigned to different individuals. Each individual does the
same work repeatedly that has been assigned.
He gets used to it which helps him to perform his job efficiently and
quickly. Consequently, the entire job is completed in an economical
manner.
(2) Optimum Utilisation of Resources and Effective
Administration:
In every organisation physical (material, machines, money, etc.) and
human (manpower) resources are used. The function of
management is nothing but to put them to optimum use or avoid

wastage of resources. And it is possible only when a manager


makes use of the principles of management.
According to the principle of unity of command there should only
be one boss for an employee at a time. In case there is more than
one boss, the employee will not be in a position to work properly.
Consequently, human resource will be wasted.
Therefore, if we desire to use the human resource favourably, this
principle has to be adopted. Similarly, many other principles ensure
favourable utilisation of various other resources.
The primary need of every organisation is that its administrative
system should be effective. Only that administrative system is called
effective where the managers can take balanced and quick
decisions. In order to take such decisions, sufficient information and
authority should be available.
This is made possible with the help of the principles of
management. For example, the principle of authority and
responsibility advocates granting of sufficient authority, while the
principle of scalar chain advocates making adequate provision for
providing information.
(3) Scientific Decisions:

A scientific decision means a balanced decision. The principles of


management provide the necessary training to the managers so
that they can take scientific/balanced decisions. In the absence of
these principles the managers have to adopt the method of trial and
error.
According to this principle, one is expected to do a job in a particular
manner and if there is some error, some other method has to be
adopted. In this way, the work is done in different ways till the error
is eliminated. This method is not proper.
Therefore, the managers are trained with the help of the principles
of management which makes them capable of taking scientific
decisions. For example, the principle of authority and responsibility
tells us that if a subordinate is entrusted with some responsibility, he
should be allowed sufficient authority to accomplish it. Only in such
a situation a subordinate will be able to take a scientific decision
whenever needed.
(4) Meeting Changing Environmental Requirement:
In modern times only such a business unit can remain alive and
develop which can keep pace with the rapidly changing
environment. In every field of business activity (production,
marketing, etc.) new techniques are emerging every day. Managers

who can understand the changing situation well in time can alone
face competition successfully. The principles of management enable
the managers to face this challenge.
For example, the principle of unity of direction tells us that all the
activities connected with the attainment of the same objective
should be completed under the direction of the same manager.
In doing so a manager would be able to have the detailed
information connected with the limited activities being done under
his direction. In case the activities connected with different
objectives are being done under the direction of one manager, he
will not be able to understand the changes being effected in any
activity.
(5) Fulfilling Social Responsibility:
The principles of management increase the efficiency of the
managers and enable them to fulfill their social responsibility. More
efficient managers can make good quality products at reasonable
prices available all the times.
For example, the principle of Fair Remuneration advocates
appropriate remuneration to the employees and helps in fulfilling
responsibility towards them.

(6) Management Training, Education and Research:


The advantages of the principles of management encourage the
researchers to bring in more improvement in them. The attitude of
the managers has molded itself in such a fashion that they are
doing, consciously or unconsciously, something new.
It means that the managers have come to acquire an attitude tilted
towards research and development. This has helped the managerial
knowledge to be more solid and scientific. The principles of
management are actually providing education and training to the
managers by enriching their theoretical and practical knowledge.
For example, in order to take advantage of the change of attitude
among the managers, various big companies have established
Research and Development Departments in HRD. Consequently,
many new techniques have come to light in the field of marketing,
production, finance, etc.

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