PRINCIPLES OF MANAGEMENT

Question 1

-It is the force that runs an enterprise and the person is responsible for its success and failures
-“Distinct process of planning, organizing, staffing, directing and controlling (POSDICON), performed determine and accomplish stated objectives by the use of human being and other business resources”.

Answer 1

Management

Question 2

was coined in order to achieve the management’s objective the available basic resources are focused on these subjects. Without these subjects, management would be inoperative.

Answer 2

6 M’s

Question 3

6 M’S OF MANAGEMENT

Answer 3

1) MEN
2) MONEY
3) MATERIALS
4) MACHINES
5) METHODS
6) MARKET

Question 4

This refers to the formulation of objectives, programs, policies and procedures, rules/regulations in order to achieve the goals of the business:

• Decision Making
• Selecting the best course of action

Answer 4

Planning

Question 5

• It is the grouping together of people, establishing relationship among them and defining the authority and responsibility that the personnel have in the use of the firm’s material resources to attain the pre determined goals and objectives:

-Identification or grouping of work to be done

Answer 5

Organizing

Question 6

• Involves filling and keeping filled the positions provided in the organizational structure:

-Delineates manpower requirements for the work to be done

Answer 6

Staffing

Question 7

• It has to do with the interpersonal aspects of managing. Leadership implies followership and the people tend to follow the man on who they see a means of satisfying their own needs, wishes and desires.

-This area of management involves motivation

Answer 7

Directing

Question 8

• This is the process of measuring and correcting th activities of subordinates and the company itself to assure conformity to plans.
• It measures performance against goals and plans
• It shows where the negative areas exist and by actions to correct any deviations and help assure the success of the plans.

Answer 8

Controlling

Question 9

• One wonders how organizations came into existence and how they grew.
• Note none of the theories is considered complete or accepted as being final.

Answer 9

EVOLUTION OF MANAGEMENT THEORIES

Question 10

EVOLUTION OF MANAGEMENT THEORIES

Answer 10

• The classical or Traditional School
• The Human Relations School
• The Management Sc. Or Quantitative School
• Moder Management

Question 11

French Industrialist who was the first to issue a complete statement on a theory of general management, which is used today. His greatest contribution was his “14 Principles of Management”

Answer 11

Henri Fayol

Question 12

14 principles of management

Answer 12

1. Division of Work
2. Authority and Responsibility
3. Unity of Command
4. Subordination of Individual Interest to General Interest
5. Remuneration
6. Centralization
7. Scalar Chain
8. Stability of Tenure
9. Esprit de Corps
10. Span of Control
11. Simplicity
12. Unit of Direction
13. Order
14. Equity

Question 13

This is the assignment of specialized jobs to various departments and/or positions

Answer 13

Division of work

Question 14

Sees authority as the power or the right entrusted to make the work possible and responsibility as the duty or work assigned to a particular position.

Answer 14

Authority and responsibility

Question 15

This means that employees should receive orders from one superior/manager only

Answer 15

Unity of command

Question 16

The interest of one employee or group of employees should not prevail over the interest of the business.

Answer 16

Subordination of Individual Interest to General Interest

Question 17

method of payment should be fair and afford the maximum possible satisfaction to employees and employer. Sometimes called compensation. This is based on “Equal pay for equal work”

Answer 17

Remuneration

Question 18

It is the extent to which authority is concentrated. It is a system of mgmt., wherein major policies are made only by the top management.

Answer 18

Centralization

Question 19

“This is chain of superiors” from the highest to the lowest ranks. Described by the use of pyramid of organization consisting of top mgmt. - president, vice president to the lowest rank

Answer 19

Scalar chain

Question 20

-Employee should be given enough time and a period to prove his worth to the company.
-This can be applied through probationary appointment (maximum period of 6 months, as provided by law) |

Answer 20

Stability of tenure

Question 21

-It explains “In union there is strength”.
-As well as an extension of the principle of unit of command.

Answer 21

ESPRIT DE CORPS

Question 22

• It refers to the specific and limited number of subordinates that a manager can effectively handle and control.
• Is also determined by the optimum level of effective supervision.

Answer 22

Span of control

Question 23

Unnecessary elements should be eliminated from all activities as well as from the process and procedures established for carrying them.

Answer 23

Simplicity

Question 24

One boss and one plan for a group of activities having the same objective.

Answer 24

Unit of direction

Question 25

Ensures a place for everything

Answer 25

Order

Question 26

treating employees with fairness, kindness, and respect, regardless of their designation, age, gender, or other characteristics.

Answer 26

Equity

Question 27

-“Father of Time Study”
-This was put into his book entitled “Principles of Scientific Management”
-He pointed out that “as productivity rose, the salaries of both managers and employees would also rise.”
-He advocate the concept of units,

Answer 27

Frederick Taylor

Question 28

Taylor’s idea have led to two major practices:

Answer 28

• piece rate incentive system
• time-and-motion study

Question 29

TAYLOR’S 4 PRINCIPLE OF SCIENTIFIC MANAGEMENT

Answer 29

1. Develop a science for each element of a man’s work, to replace the old rule-of-thumb method.
2. Scientifically select and then train the worker.
3. Heartily cooperate with the men to ensure that all the work done is in accordance with the principles of the science develop for the work.
4. Divide the work and the responsibility equally between management and the workers.