Some of the most important principles of management are:
1. Principle of Planning, 2. Principle of Co-ordination, 3. Principle of Exception, 4. Principle of Span of Control, 5. Principle of Motivation, 6. Principle of Participation, 7. Principle of Objective!
In addition to the principles contributed by Fayol, other, management experts like Mooney and Reiley, Lyndall Urwick, R.C. Davis etc. gave the following principles—
1. Principle of Planning:
Planning is the process in which managers of the organisations decide what is to be done, how it is to be done, and who is to do it? It sets the objectives of an organisation and decides the necessary steps to be taken for their accomplishment in an orderly manner.
2. Principle of Co-ordination:
It is an essence of management. It is not possible to secure unity of purpose and unified action among all the functions of management without their proper coordination. It is combining of efforts of individuals in such a manner that the common goals of the organisation are achieved efficiently. Henry Fayol considered co-ordination as a full-fledged function of management like other functions.
3. Principle of Exception:
It means that management should transfer all the routine work to their subordinates. It will enable the top management to concentrate on more important matters. It results in better decision making and control.
4. Principle of Span of Control:
It means the number of subordinates placed under the direct control of the supervisor. There is a limit to the number of subordinates when a supervisor can manage and control effectively. So, a supervisor should have the manageable number of subordinates. It is also termed as span of supervision or span of management.
5. Principle of Motivation:
Motivation is a driving force which urges a person to do or not do something. It is a psychological concept and relates to the inner feeling. It is intangible but at the same time very important. Motivation is a tool which helps in converting ability and will of the works into concrete results. In the words of Likert-—’Motivation is the core of the management.’
6. Principle of Participation:
It refers to the participation of the workers in the decision making process of the organisation. This principle has become very important in modern concept of management in order to make it result oriented.
7. Principle of Objective:
It emphasises that all the employees of the organisation should know clearly the objectives of the organisation and they should put IH their efforts harmoniously for their achievement.