Principle of Management: The Way It Is

What is Principles of Management? You may ask yourself. Well, it encompasses many things. For example take the word "Management" itself, it covers every aspect from basics to the extreme. Let's try to associate the word management to make it more simpler to understand.

M - Man

A - And 

N - New Associates

A - Accomplishing

G - Goals and 

E - Establishing

M - Movements (Businesses and Organizations)

E - Effectively and Efficiently

N - Networking

T - Tasks (Organizational structure)

Now, I am sure you are able to get a clearer picture of the entire concept of Principles of Management and how it exactly functions.

Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives by using available resources efficiently and effectively. 

The Principles of Management are the essential, underlying factors that form the foundations of successful management. According to Henri_Fayol in his book General and Industrial Management (1916), there are fourteen 'Principles of Management'. And they are as listed below:

1. Division of Work - According to this principle the whole work is divided into small tasks.The specialization of the workforce according to the skills of a person , creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour.
2. Authority and Responsibility - This is the issue of commands followed by responsibility for their consequences. Authority means the right of a superior to give enhance order to his subordinates; responsibility means obligation for performance.
3. Discipline - It is obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organizations.
4. Unity of Command - This principle states that each subordinate should receive orders and be accountable to one and only one superior. If an employee receives orders from more than one superior, it is likely to create confusion and conflict.
5. Unity of Direction - All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager.
6. Subordination of Individual Interest to Mutual Interest - The management must put aside personal considerations and put company objectives firstly. Therefore the interests of goals of the organization must prevail over the personal interests of individuals.
7. Remuneration - Workers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity. The quantum and methods of remuneration payable should be fair, reasonable and rewarding of effort.
8. The Degree of Centralization - The amount of power wielded with the central management depends on company size. Centralization implies the concentration of decision making authority at the top management.
9. Line of Authority/Scalar Chain - This refers to the chain of superiors ranging from top management to the lowest rank. The principle suggests that there should be a clear line of authority from top to bottom linking all managers at all levels.
10. Order - Social order ensures the fluid operation of a company through authoritative procedure. Material order ensures safety and efficiency in the workplace. Order should be acceptable and under the rules of the company.
11. Equity - Employees must be treated kindly, and justice must be enacted to ensure a just workplace. Managers should be fair and impartial when dealing with employees, giving equal attention towards all employees.
12. Stability of Tenure of Personnel - Stability of tenure of personnel is a principle stating that in order for an organization to run smoothly, personnel (especially managerial personnel) must not frequently enter and exit the organization.
13. Initiative - Using the initiative of employees can add strength and new ideas to an organization. Initiative on the part of employees is a source of strength for organization because it provides new and better ideas. Employees are likely to take greater interest in the functioning of the organization.
14. Esprit de Corps - This refers to the need of managers to ensure and develop morale in the workplace; individually and communally. Team spirit helps develop an atmosphere of mutual trust and understanding. Team spirit helps to finish the task on time.

I hope you are enlightened with the topic now and you will be able to understand further in the areas of effective communication, decision-making process, motivation and human resources management. Stay tuned!

Let's see if you are able to answer the questions below:

a) Explain the value
    of studying      
    management.
    (12 marks)

b) Explain why
     managers are important to organizations. (8 marks)

5 Steps to Start Your Own Food Business

Here are the rules to success.

1. Establish a niche: "A cute name? Unique packaging?

2. Find taste-testers: Create brochures and inform friends about it.

3. Figure out your price:  Go to local places and check out how much your competitors charge.

4. Learn to advertise on the cheap: Social networking sites are a free way to stay in touch with customers and approaching stores with promotional discount offers is a great start ahead. 

5. Write a business plan:  Always have a sketch plan of the business direction.

Introduction to Entrepreneurial Behavioral

Overview of your Final Semester Project which consist of showmanship and report submission.

The showmanship is divided into (2) parts and assessed based on (4) areas of criteria assessment:

Part A: Small Business Management encompassing two areas:

a) Organization - lining out business ideas, concept and theme.
b) Engagement - creating a memorable buying experience for customers.

Part B: Entrepreneurship encompassing two areas:

a) Development - a strong command of voice, mind and body.
b) Representativeness - communication with intention and impact; and teamwork.

The report will consists of the following table contents:

i)     Executive Summary
ii)    Company / Business Description
iii)   Product Distribution Method and Development Stage
iv)   Competition and SWOT Analysis
v)    Marketing and Sales Strategy
vi)   Management Structure
vii)  Survey Report
viii) Execution Day Sales and Operation Report
ix)   Business Timeline
x)    Customer Feedback
xi)   On-site Marketing and Strategy
xii)  Financial Statements
xiii) Conclusion
Appendices [Pictures, Posters, Floor Plan, Pre-Order Form, Survey Form, Brochures]


TOTAL ASSESSMENT MARKS:

Showmanship - 60 marks
Report             - 40 marks
Assessment     - 50%
 

The Metamorphosis of Creative Innovation

Students were asked to innovate a business using digital technologies and the topics learnt in class to create a revolutionary marketing niche that will bear a remarkable breakthrough in sales if they were to promote their business to the real world. Hence, they came up with the concepts below for the products listed as follows:

              i.        An office

            ii.        A home

           iii.        A car

           iv.        HACK (3-in-1 Home Appliance Control Kit)

1) www.freshsmartfridge.blogspot.com

2) www.nerospring2014.blogspot.com

3) www.3lamborgs.blogspt.com

4) www.a-skytown.blogspot.com

5) www.sjcarpark.blogspot.com

 

By: Kristen Priya - ADP-SEGi Subang Jaya

GAMIFY YOUR GAME TO GAMIFICATION

BA 459  CONTEMPORARY TOPICS FOR MARKETING 

 (Replacement Class Activity on 21/1/14 to be discussed for the coming class on 27/2/2014)

You are instructed to watch (4) videos as mentioned below and answer the questions accordingly:

Video 1 - McDonald's 140-Character Film Contest Gamification
Video 2 - HR & Gamification Platform for Call Center
Video 3 - Guerilla Marketing Innovative Ideas
Video 4 - Invisible Vending Machine

Questions

V1 - What was the significant purpose of Mc Donalds bringing about such a gamification towards its
         products for its loyal customers?

V2 - Do you think the gamification for the call-center was a competitive edge gamification? State your
        reasons.

V3 - Pick (2) most interesting / catchy guerilla marketing that caught your attention at first sight and state the
        reasons why you think so?

V4 - Looking at "Invisible Vending Machine",
        (i) What was the objective of creating such a viral marketing strategy that enhances its competitive 
             advantage?
        (ii) Do you think it was a good idea to bring about such an innovative creation of technology
             innovation?

International Management

International Management is a great subject matter to explore especially when it involves cross-cultural management as it requires:

- knowledge and skills, above and beyond normal business expertise like familiarity with the business
   regulations of the nations in which the organization operates,
- understanding of local customs and laws,
- the capability to conduct transactions that may involve multiple currencies.

Interactions are the key to globalization and international management. However, I have learned through research and experienced the various combination of perspectives and diversed condenses extending towards the growth of cross-cultural management, organizational behaviour and international business.

Understanding the effects of varient cultures, depicts a sense of respect and awareness that is fundamental to the business environment. Hence, a better understanding of the challenges that face global managers creates a rapidly growing phenomenon of adaptation in order to thrive; resulting in an ever-increasing number of cross-cultural interactions in the workplace which places great importance to the fundamental requirement of effective internatinal management.

As always, I recognize and condone that my own cultural background influences my ability to be objective. I would be more than pleased to hear from learners in and out of my classroom who may have different views towards the various cultural orientation which they may have perceived, experienced, adopted or even adapted.

Networking for Success

This topic encompasses all three areas of management which is Human Resource Management, International Management, Contemporary Topics in Marketing and last but not least, Entrepreneurship and Small Business Management that may be essential at every point of your life.

It is never too early to learn the art of networking. 

Networking is an essential tool for job seekers. It may be the single most effective way to getting the job of your dreams. Networking is not just a good way to secure jobs; it is a tool that can help you in various aspects of your life, from moving up the corporate ladder to meeting your future life partner.

You may think you have plenty of time to pick up this all-important skill before you step into the working world. However, cultivating this habit as early as possible can help you make the most out of your connections in college and beyond. Here are a few things you could get started on the network to success. 

Build a contact list

Networking is an active, ongoing process in which you identify people who can provide information, advice, and best of all – more contacts! Ways to identify and make new contacts include: 

 Extra-curricular activities. These are great opportunities to make friends from other colleges. You common interest is a good conversation starter, and you can then progress to other topics like study tips and career choices.

Social networking siteslike Facebook, Twitter, Blogger and online forums which enable you to join common interest groups and make new friends. This is one good way to extend your circle of contacts even if you have not personally met them.

Talking to parents of friends. Working adults are one of the best ways to learn about the various career choices you can make. Finding out first-hand information on a career that you are interested in is better than reading about it in books and websites.

Planning is everything

Once you have identified the various avenues that can present you with opportunities to network, the next step is to target specific individuals for a relationship establishment that can benefit in the long run. To build your self-confidence, you can start with people who are more approachable. 

Preparing to make contact

Once you have made the necessary arrangements, and if they are working in an industry you are interested to join, you should first research that industry, in order to be a potential candidate. Find out more about career challenges, professional development, overall work environment and sources of job satisfaction but avoid asking about the salary range of the jobs on offer.

Follow up

Keep in touch with your contact, occasionally following up with thank-you notes and updates on your career choices. By building long-lasting relationships with your contacts, you would have created a pool of individuals you can later use as referrals to get internships and even jobs. However, ensure you obtain permission from them first.

Ask about vacancies

You may ask your contacts if you are allowed to visit their workplaces, or if you can work part-time there during your semester break to gain some first-hand experience of the industry they work in. If they are still in the company after you have graduated from university, you could even send them a copy of your curriculum vitae to pass on to the hiring manager should there be any suitable openings.

It is never too early to start cultivating the habit of networking, so that it becomes second nature to you by the time you graduate from university. It is a vital skill to have as it may help you land a good job even without sending out a single formal job application.