Principles of management comprises of various concepts – meaning and definition of principle, management principles, derivation of management principles, nature of management principles – universal applicability, general guidelines, formed by practice and experiments, flexibility, mainly behavioural, contingent, significance of principles of management, background and history of Henry Fayol, principles of management developed by Henry Fayol, scientific management, scientific principles of management, scientific techniques of Taylor – functional foremanship, planning department, fatigue study, method study, time study, motion study, differential piece wage system, mental revolution.
Frequently asked Questions on CBSE Class 12 Business Studies Notes Chapter 2: Principles of Management
Who was Henry Fayol?
Henry Fayol was the first to suggest the functions of management which are recognised as the essential part of a manager’s work by the modern authorities on management.
What is ‘Functional foremanship’?
Functional foremanship is a factory management technique that advocates for having multiple foremen in different, specialised roles.
What is ‘Method study’?
Method study is the process of subjecting work to systematic, critical scrutiny to make it more effective and efficient.