This article throws light upon the top five principles of scientific management theory suggested by Taylor. The principles are: 1. Rule of Thumb should be Replaced with Science 2. There should be Harmony, not Discord in Group Action 3. Cooperation, not Individualism 4. Maximum Output, not Restricted Output5. Development of Workers to their Fullest Capacity. Principle # 1. Rule of [...]
This article throws light upon the 7S model developed by McKinsey for understanding the framework of management. The seven S are: 1. Strategy 2. Structure 3. Systems 4. Style 5. Staff 6. Skills 7. Shared Values. 1. Strategy: Strategy making is an important variable that affects managerial excellence. Strategy means determination of objectives and allocation of resources to achieve these [...]
After reading this article you will learn about:- 1. Meaning of Responsibility 2. Concept of Responsibility 3. Forms. Meaning of Responsibility: Responsibility is the task entrusted by managers to subordinates. It means moral commitment to do the work assigned. A person who performs some work has the responsibility to do it. It is the obligation to carry out the assigned [...]