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

. . .
ns can be complicated, yet are necessary to assure growth within a company. The specific principles a company adopts in its relations with various individuals can be similarly diverse. Most businesses must receive information from stockholders and customers. The degree to which members of these factions are influential on company policy depends on a variety of factors including the extent to which the company must rely on the stock or the product being purchased by a certain individual or group. Communication between employees within a company can be centralized or decentralized. Heckert (1982, p. 429) observed that both systems worked within the Du Pont Company. The majority of research into this area has demonstrated that a centralized communication system is more efficient and accurate, but that a decentralized one is preferred by employees who feel more involved with and less alienated from the overall structure of the company (Mintzberg, 1983, p. 113). While either communication system can be successfully utilized a business will suffer if it does not provide an atmosphere and specific experiences which motivate employees and encourage them to both achieve at their highest current ability and to participate in progr
. . .

Some common words found in the essay are:
Pont Company, , Kiechel III, References Heckert, terry 1977, Prentice-Hall Terry, heckert 1982, mintzberg 1983, Speeches Day, principles management, communication system, human relations, 1982 429, heckert 1982 429, Richard Irwin, terry 1977 pp, stockholders customers, organization human relations, company's attitude, kiechel 1981, human relations control, relations control ethics,
Approximate Word count = 1392
Approximate Pages = 6 (250 words per page)

More Essays on Principles of Business Management