Principles of management

1)1) Acknowledgement………………………………………………….3Acknowledgement………………………………………………….32)2) Objective………………………………………………………………..4Objective………………………………………………………………..43)3) Organisation ………………………………..………………………..5Organisation ………………………………..………………………..54)4) Introduction To Management…………………………………7Introduction To Management…………………………………75)5) Types Of Management……………………………………………8Types Of Management……………………………………………86)6) Significance Of Management…………………………..……..10Significance Of Management…………………………..……..107)7) Principles Of Management………………………………..……12Principles Of Management………………………………..……128)8) Sample Questionaire…………………………………………..….13Sample Questionaire…………………………………………..….139)9) Analysis Section……………………………………………………..14Analysis Section……………………………………………………..1410)10) Conclusion………………………………………………………….….21Conclusion………………………………………………………….….2111)11) Bibliography…………………………………………………........…22Bibliography…………………………………………………........…2212)12) End…………………………………………………………………….....23End…………………………………………………………………….....23

I would like to express my deepest appreciation to all those who provided me the possibility to complete this report. A special gratitude I give to our project manager, Mrs Manju Sharma, whose contribution in stimulating suggestions and encouragement, helped me to coordinate my project especially in writing this report.

Furthermore I would also like to acknowledge with much appreciation the crucial role of the staff of J K Metals Pvt. Ltd, Yamunanagar , who gave the permission to use all required place and time of employees to complete my “Project On Principles Of Management”. Last but not least, many thanks go to almighty god who helped me achieving the goal.

I have to appreciate the guidance given by Mam especially in my project. This has improved my presentation skills thanks to their comments and advices.

The purpose of this project is to see the Principles of Management being implemented in real life. With its help we shall get the information whether the principles of management which we come across in the books are actually true? And whether by following the principles of management the efficiency of the management is actually enhanced.

In order to achieve the objective of this project we needed an organisation where business is carried on a medium scale and various activities are performed. On the advice of our Class Incharge J K Metals Pvt. Ltd., Yamunanagar was selected because it had following characteristics :-It is capable of fullfiling the purpose of project.It is situated nearby and visiting it would be easy.

Selection :Selection :

Organisation Details : Organisation Details :

Functions :-

Sr. No.

Question Yes No No Response No. Of Respondents

1 Do you have all the authority connected with your work ?

2 Do you get orders from more than one boss ?

3 Do you give top priority to the interests of the company ?

4 Do you get reasonable remuneration ?

5 Are the daily decisions made by the person concerned ?

Are the major decisions taken only by the higher authorities ?

6 Does the boss of your boss directly communicate with you ?

7 Does your company give equal remuneration to all the employees doing a similar job ?

8 Have you served this company for more than 1 year ?

9 Does your boss give importance to your suggestion ?

Questions Yes No No Response No. Of Respondents

Do you have all the authority connected with your work ?

14 3 3 20


Do you get orders from more than one boss ? 2 16 2 20


Do you get reasonable remuneration ? 8 9 3 20

It can be clearly seen that the company’s nearly half workmen are not happy with their remuneration. So company should use this principle and provide good remuneration to all its employees so that the may work whole-heartedly for the company.

The interests of one person should not take priority over the interests of the organization as a whole.

Centralization as lowering the importance of the subordinate role. Decentralization is increasing the importance. The degree to which centralization or decentralization should be adopted depends on the specific organization.

SUBORDINATION OF INDIVIDUAL INTERESTS TO THE GENERAL INTERESTS : SUBORDINATION OF INDIVIDUAL INTERESTS TO THE GENERAL INTERESTS :


Do you give top priority to the interests of the company ?

16 2 2 20

Are the daily decisions made by the person concerned ?

15 2 3 20

Are the major decisions taken only by the higher authorities ?

18 0 2 20


It is seen that employees care for company’s benefits, which is beneficial for the company.

Managers in hierarchies are part of a chain like authority scale. Each manager, from the first line supervisor to the president, possess certain amounts of authority. The President possesses the most authority; the first line supervisor the least. Lower level managers should always keep upper level managers informed of their work activities.

For the sake of efficiency and coordination, all materials and people related to a specific kind of work should be treated as equally as possible.

SCALAR CHAIN :SCALAR CHAIN :


Does the boss of your boss directly communicate with you ?

15 3 2 20

ORDER: ORDER:

The study shows that the employees of the company have direct communication with the boss of their boss, which violates the scalar chain principle, This principle should come in use of the company because by its implementation lower level workers could work more efficiently.

My personal observation made it clear that all goods were placed at their decided place and employees worked at their pre-determined place. Which is beneficial for the company.

All employees should be treated as equally as possible.

Retaining productive employees should always be a high priority of management. Recruitment and Selection Costs, as well as increased product-reject rates are usually associated with hiring new workers.

EQUITY: EQUITY:


Does your company give equal remuneration to all the employees doing a similar job ?

11 7 2 20

STABILITY OF TENURE OF PERSONNEL: STABILITY OF TENURE OF PERSONNEL:


Have you served this company for more than 1 year ? 8 12 0 20

Above facts tell that the company is not conscious about this principle. Following of this principle will lead to sense of belongingness in the hearts of the employees of the company.

This study shows that labour turnover of the company is high, which is not good for the company. If this could be brought down the labour would feel job security and would work more efficiently.

Management should take steps to encourage worker initiative, which is defined as new or additional work activity undertaken through self direction.

Management should encourage harmony and general good feelings among employees.

ESPIRIT DE CORPS: ESPIRIT DE CORPS:

INITIATIVE: INITIATIVE:


Does your boss give importance to your suggestion ? 14 4 2 20

This shows that most of the employees felt that their opinions were given importance. This is good, as it helps to encourage the employees and increase their confidence.

My observation says that the managers of the company a victims of superiority complex due to which the feeling of employee is out of question. Managers should be told that they must take care of the employees in a good manner, so that it may increase the confidence of the employee over the company.

My hypothesis was that Company would work better with all the management principles applied. My results do support my hypothesis.

I think the studies I did went smoothly and I had no problems, except for the fact that the people working in the factory had very less free time. Therefore, I had to take the answers quickly.

An interesting future study might involve testing the working of the company without any management principle.

In making of this project most of the help was given my Mrs Manju Sharma(Class Incharge and Lecturer of Business Studies)Other Sources :-Business Management (+2) NCERTwww.google.comwww.wikipedia.com

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http://www.wikipedia.com/

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Principles of management