6 Pages
1561 Words
Essentials of Management Element Assignment
Get free written samples by our Top-Notch subject experts and Assignment Helper team.
Introduction Essentials of Management Element Assignment sample
Management implies that a group of people or a company is directed and controlled to attain the purpose. Management typically refers to the employment and management of human, economic, technical, and ecological resources (Akramovich and Muratovna, 2019). Effective managers realize how important it is to build trust in their teams whether that means appreciation of outstanding work, more autonomy or even other steps to show that employees are being looked after. Henri Fayol has been the prominent administrative thinker. Fayol noticed a halt and considered it a failure in management. He argued that the management techniques of companies are important in promoting organizational predictability and effectiveness (Ramakrishna, 2019). The following study entails the principles of management and links the principles with Henri Fayol's administrative theory.
Concept of Management
Every company needs future planning in order to succeed, and the person in charge of affairs is accountable for the implications of his choices, whether positive or negative. In a nutshell, this is the core of management science. Leading is preoccupied with the manager's ability to communicate the employee's requirements with the department or company as a whole (Akramovich and Muratovna, 2019). The word 'management' has indeed been employed in a variety of contexts. Often used to refer to the process of planning, arranging, staffing, directing, coordinating, and supervising, it is also used to refer to the job of managing people.
Additionally, it is regarded as a body of knowledge, a profession, or a discipline. Some define management as a method of leadership and decision-making, whereas others see it as an economic resource, a component of production, or an authoritative structure. Management seems to be the skill of motivating and leading others (Hussain, HAQUE, and Baloch, 2019). Management not only leads, but also motivates employees to perform at their best in order to achieve goals. Management may well be described as the process of accomplishing objectives effectively and efficiently. Management involves the practice of collaborating with others and accomplishing company effectiveness via the use of people and other financial functions.
Link between Henri Fayol's administrative theory and Principles of Management
Henri Fayol (1849-1925) was a renowned French businessman and management thinker in Europe (Ramakrishna, 2019). Henri Fayol is referred to as the "Father of Management" since he created a comprehensive theory of management and also established the 14 management principles. Henry Fayol, generally considered as the 'father of contemporary management theory,' changed the way management was seen. He established a comprehensive theory appropriate to all layers of management and all departments. Managers employ the Fayol theory to coordinate and manage an organization's internal operations.
The following section discusses Henri Fayol's fourteen management principles.
- “Division of Work”
Henri felt that dividing work within the workforce would improve the service performance. Similarly, he found that job division increases productivity growth, efficiency, precision, and speed. For instance, Both KFC and Google arrange their workers by job function. Employees are assigned to groups and assigned certain tasks. At KFC, operational personnel are split into two groups: Customer Service and Food Service. Work also is split into Teams at Google. Google has many teams ranging from engineering and design to sales and operations.
- “Authority and accountability”
These are just the two defining characteristics of management. Authority enables management to function effectively, but accountability make them accountable for the job performed under their direction or leadership.
- “Discipline”
Nothing else is feasible without discipline. It is the guiding principle for each and every project or management (Adam and Suleiman, 2018). Effective performance and rational interrelationships make management simpler and extensive.
- “Unity of Command”
This implies that an employee must report to a single supervisor and obey his commands. Whenever an employee is required to report to more than one supervisor, a contradiction develops and may result in misunderstanding.
- “Directional Consistency”
Everyone engaging in the same activity should share a same objective (Mahindru et al., 2018). This implies that everyone who works in a corporation should have a same objective and motivation, which also will make things simpler and result in the achievement of the specified goal.
- “Subordination of Individual Interest”
This indicates that a business should operate cooperatively or in its own self-interest. Being subservient to an organization's objectives is an important management principle. This refers to the entire chain of command inside a business.
- “Remuneration”
This seems to be critical for inspiring a company's employees. Compensation may be financial or non-monetary in type. Instead, it ought to be proportionate to an individual’s effort(Ndzi, 2017). For instance, Tesco uses financial rewards for motivating its company’s employees that in turn enhances the organizational performance.
- “Concentration”
In every business, the management or other authority responsible for decision-making must be objective. This, nevertheless, is based on size of the organization (Ndzi, 2017). Therefore, Henri Fayol highlighted the need of building a balance among “hierarchy” and “power division”.
- “Scalar Chains”
On this principle, Fayol stresses the need of ascending the hierarchy from “top to bottom”. It is important so that each employee is aware of their immediate supervisor and is able to get in touch them if necessary.
- “Order”
To foster a positive work culture, a company must have a well-defined work order. A good work environment will lead to increased positive productivity.
- “Equity”
Each employee must be treated fairly and with respect. A manager is responsible for ensuring that no employee suffers prejudice (Edwards, 2018). For instance, Amazon has 13 affinity clubs, sometimes referred to as employee resource groups that bring together Amazon workers from various companies and locations worldwide.
- “Stability”
Employees perform at their best when they feel comfortable in their position. It is the management's responsibility to provide job security for its workers.
- “ Initiative”
Management must promote and support workers who exhibit initiative inside the company (Mahindru et al., 2018). It will assist them in piquing their attention and establishing their value.
- “Esprit de Corps”
It is the manager's duty to inspire their workers and to be encouraging of one another on a consistent basis (Adam and Suleiman, 2018). Building mutual trust and confidence will result in a more beneficial outcome and workplace environment.
Conclusion
To conclude, it can be stated that Henry Fayol, often regarded as the 'founder of modern management theory,' fundamentally altered how management was perceived. He developed a broad theory applicable to every levels of management and all divisions. Managers use the Fayol theory to supervise and integrate the internal operations of a company.
References
Adam, A.K. and Suleiman, E.S., 2018. A Contextual Framework of Henry Fayol’s 14 Principles of Management for Public Sector Efficiency and Effectiveness of Policy Responsibilities by a Government. Journal of Advanced Research in Business and Management Studies, 11(1), pp.46-61.
Akramovich, I.M. and Muratovna, N.N., 2019. Importance of Peculiarities of Services in Management of Enterprises. Asian Journal of Technology & Management Research [ISSN: 2249–0892], 9(1).
Edwards, R., 2018. An elaboration of the administrative theory of the 14 principles of management by Henri Fayol. International journal for empirical education and Research, 1(1), pp.41-51.
Hussain, N., HAQUE, A.U. and Baloch, A., 2019. Management Theories: The Contribution of Contemporary Management Theorists in Tackling Contemporary Management Challenges. Journal of Ya?ar University, 14, pp.156-169.
Mahindru, R., Sharma, A., Chopra, S. and Bhatia, S., 2018. A Study of Fayol’s Principles: Applicability in Today’s Organization. Management Today, 8(3), pp.213-220.
Ndzi, E., 2017. The impact of the Salomon Principle on Directors’ Remuneration in the UK. International Journal of Law and Management.
Ramakrishna, N., 2019. Henry fayol's principles of management and it's applicability in contract staffing. International Journal of Management, IT and Engineering, 9(3), pp.168-182.
