Definitions [1]
Definition: Principle
Principle is defined as a fundamental truth or proposition that serves as the foundation for a system of belief or behaviour or for a chain of reasoning.
Key Points
Key Points: Taylor's Scientific Management Theory
- Scientific Management is one of three classical schools, alongside Administrative Theory and Bureaucracy.
- Taylor is identified as the founder of the Scientific Management movement.
- Key elements include time studies, standardisation, differential rates, functional supervision, and management by exception.
- Planning is deliberately separated from execution under this approach.
- Practical studies at Bethlehem Steel and in brick laying demonstrate real-world application of these principles.
- The Lijjat Papad case illustrates how business, Gandhian values, and social responsibility can coexist.
Key Points: Concept of Management Principles
- Management coordinates planning, organising, staffing, coordinating, and controlling.
- Management is needed in all kinds of organisations.
- Management is counted as a key resource alongside machines, materials, and money.
- A principle = a fundamental truth or proposition.
- Principles of management act as broad guidelines for decision-making.
- They are less rigid than pure science.
- Principles are different from both techniques and values.
