Principles of Management

Basic principles of management are-

  • Plan
  • Organise
  • Lead
  • Control

Plan-

Planning involves setting objectives and determining a course of action for achieving those objectives which includes

  1. Defining organisation vision and mission
  2. Setting Goals and Objectives
  3. Strategizing
  4. Plan of Action to achieve goals and objectives

Organise-

Organising requires management to assign tasks to the roles, obtain the resources and locate them to the roles and delegate authority and responsibility to them which includes

  1. Formation of Organisational Structure
  2. Resource Allocation
  3. Job Design

Lead-

Leading is the action step. Direct team to get the work done. Start by making sure that the goal is clear to everyone in the team.

  1. Leadership and direction
  2. Motivation
  3. Coordination
  4. Communication communication

Control-

Monitor the work and compare it with the plan. Verify whether organisation is working as we have designed it. Manager set standards for performance and quality and then monitor to make sure that the tasks are met.

  1. Process and standards
  2. Review and Evaluation
  3. Corrective Actions

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