Management Process_Continuation

This post is the continuation of my last post.

Stability: It takes time and effort to train a person to do a job and therefore keeping him stable in the job for a reasonable period is necessary to get returns on this investment.

Scalar Chain: The flow of information and exercise of authority has to flow in a chain from top to bottom.

Subordination of individual interest to general interest: Individuals draw their identity and livelihood from the organisation. Therefore, the organisational interest should supersede individual interest.

Esprit de corps: It is about creating team spirit and harmony.

Centralisation and decentralisation: Centralisation means concentration of authority at the top level and decentralisation means delegating it to the lower levels. There should be an ideal balance between the two, keeping in mind the size, nature of business etc.

The term management process and management functions are interchangeably used.
In an organisation, these have to take place in a logical sequence. It is then called a Process.

Systems approach (or view) of management process implies connecting the management process to the external environment and viewing it as a system that is existing in the overall system.

Management helps in achieving group goals, optimum utilisation of resources, reduces cost, establishes sound organisation, establishes equilibrium and is essential for prosperity of society.
Management thought evolved through Scientific management theory, Operational management theory, Behavioral science theory, Systems theory and Modern management thoughts.

Principles of management are important because it improves understanding, provides direction for training of managers, defines role of management and acts as guide to research in management.
Fourteen principles of management have been enunciated by Henri Fayol.
Management processes/ functions include planning, organising, staffing, leading and controlling.