Essay on Human Resource Management! Human resource management is a separate and specialised function which all managers need to perform. […]
Principles of management propounded by Henri Fayol are: 1. Division of Work 2. Authority and Responsibility 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Subordination of Individual Interest to General Interest 7.Remuneration of Employees 8. Centralisation and Decentralisation 9. Scalar Chain 10. Order 11. Equity 12. Stability of Personnel 13. Initiative 14. Espirit de Corps! 1. Division [...]
New scientific techniques of management are: (i) Just in Time Manufacturing (ii) Lean Manufacturing (iii) Kaizen (iv) Six Sigma (v) Operations Research! (i) Just in Time Manufacturing: It is a strategy of inventory management which is concerned with reducing the stock of work in progress and its associated costs and thus improving return on investment. […]