Key Principles of Management: An Overview

In the discipline of business management, some of the key principles include the practices which are typically adopted by managers for the success of a business venture. Henry Fayol (1841-1925) and Frederick Winslow Taylor, who are widely considered as the fathers of modern management methods, devised the basic principles of modern management.

Key Principles of Management

Principles of management

Division of labor:

Authority:

Discipline:

Unity of command:

Unity of direction:

Subordination of individual interests:

Remuneration:

Degree of centralization:

Scalar chain:

Order:

Equity:

Stability of tenure:

Initiative:

Espirit de Corps:

These are the basic principles of management which are still relevant in the present times.

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Students of business management must learn the basic principles of management in order to be successful managers of the future. However, the topic is both vast and complex. Students need to understand each of the sections in detail and also learn to write how to effectively use the principles in their assignments. An expert help is always a better option than doing the assignment alone as it eliminates the risk of getting poor grade.

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