CHAPTER - 2 (PRINCIPLES OF MANAGEMENT) Anirudh is here to help in memorizing and easy recalling of the points related to key concepts through his sharing’s about his family members. Features of Principles of Management MY ~ Mainly behavioral GRAND ~ General guidelines FATHER — Flexbilty USES — Universal applicability GREDIT- Cause and effect relationships ‘CARD — Contingent FREELY —Formed by practice and experimentation (evolutionary in nature) Importance of Principles of Management MY ~ Meeting changing environment requirement MOM — Management. raining , research and education SLEEPS - Scientific decisions ON Optimum utization of resources and effective ‘administration FUR ~ Fulfiling social responsibilty PILLOW ~ Providing managers with useful insights into realty MEANING - ‘Anirudh is here to help in memorizing and easy recalling of the points related to key concepts through his sharing's about his family members. Principles of Scientific Management DAD ~ Development of each and every person to his ‘or her greatest efficiency and prosperiy HAS ~ Harmony , not discord ‘SIX Science not rule of thumb ‘CARS ~ Cooperation, not individualism COMMERCE HUB seatsPrinciples of Administrative / General Management - D - Division of work |= initiative 'S~ Scalar chain ‘C—Centralization and decentralization U- Unity of command 'S Stability of personnel S— Subordination of individual interest to general interest E — Espirit de corps D = Discipline 0- Order U~ Unity of direction R— Remuneration of employees ALL ~ Authority and Responsibility EMOTIONS ~ Equity Techniques of Scientific Management MY — Method study ‘SISTER - Standardization and Simplif FLEW - Fatigue Study FROM — Functional Foremanship MUMBAI ~ Motion Study TO - Time Study DELHI Differential piece wage system ~~ — a COMMERCE