Principles of Business Management

The principles of management can be separated into four broad categories which must be addressed by any business. Organizational principles include those which outline a specific company's plans, goals and strategies for both the short term and the long term. Human relations principles are those which describe a company's attitude toward stockholders, customers, and, most important, employees. They include the extent to which a business cooperates with and encourages participation, communication and feedback from these factions. Control principles can apply to the extent to which employee performance as well as product quality and quantity and sales quality and quantity are monitored, regulated and improved. The final category of management principles is that of business morals. The standards and ethics which each employee and which the business as a whole practice are a reflection of the company's attitude toward and implicit or explicit adoption of certain principles.

Although these basic areas of management must be addressed by every business, the specific actions a company can institute can vary widely. Even with a specific company the attitudes of different managers toward employees, for example, can vary from a participatory to an autocratic design. Either strategy can work, depending on the characters of the indi