Seven essential principles of management are: 1. Universal Applicability 2. General Guidelines 3. Formed by Practice and Experimentation 4. Flexible 5. Mainly Behavioural 6. Cause and Effect Relationship 7. Contingent! Managerial principles are the guideline to for decision making and action. […]
For the smooth functioning of a business, each manager is required to perform the primary functions of management viz planning, organising, directing, staffing and controlling! 1. Planning: Planning is the basic function of the management and involves deciding in advance what is to be done, how, where, and by whom. Planning is futuristic in nature. It is a continuous process [...]
Three levels of management present in the hierarchy of an organization are: A. Top Management B. Middle Management C. Supervisory or Operational Management! An organization consists of a group of people; each performing the job assigned to him by his superior. […]