Principles Of Management Flashcards, test questions and answers
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What is Principles Of Management?
The Principles of Management are the essential, underlying factors that form the foundations of successful management. They establish a set of guidelines for making decisions and determining how to manage resources, personnel and various other aspects of an organization. These principles have been around for many centuries, but still remain relevant in modern day management practices.The first principle is goal setting. Setting clear and specific goals enables managers to plan effectively and measure progress towards reaching their objectives. Managers should create achievable goals that are based on realistic expectations and encourage employees to strive for excellence in their work output.The second principle is planning. Planning is essential in any endeavor as it helps managers identify appropriate strategies and tactics needed to meet their goals. It also allows them to allocate resources efficiently, so they can maximize productivity with minimal effort or expenditure on unnecessary tasks or projects. Managers should also utilize contingency plans which provide alternative strategies if initial plans fail to produce desired results. The third principle is delegation of authority and responsibility. A manager’s most important task is delegating tasks within the organization so that employees are empowered with the ability to make decisions independently while adhering to organizational guidelines provided by the manager or higher level management team members. Delegation also encourages employee development, as it gives them greater responsibility over their work environment which can lead to improved performance overall when managed properly by a skilled leader or manager. The fourth principle is communication between all stakeholders within an organizationthis includes both internal communications between departments as well as external communications with customers or vendors outside the company’s walls. It ensures all members involved have access to necessary information in order for them to make informed decisions and carry out tasks effectively while driving success towards organizational goals. Effective communication should be practiced at all timesnot just when problems ariseso that everyone remains up-to-date on current company initiatives or issues that may arise during operations. Finally, there’s controlling operations which entails monitoring progress against predetermined goals at every stage of each project so adjustments can be made if necessary before completion. This allows managers not only assess how well things are going but identify any potential problems earlier on preventing costly delays or financial losses later down the line. Controlling operations also involves providing feedback from employees from different levels throughout an organization so they understand how their efforts contribute towards overall performance and success.