Mr. Dev Study

   Fayol's Theory of Management  Fayol wrote that all activities of business enterprises could be divided into six groups: technical, commercial, financial, accounting, security and administrative or managerial. Fayol's primary focus, of course, was on this last managerial activity because he felt managerial skills had been the most neglected aspect of business operations. He defined management in terms of five functions: planning, organising, commanding, coordinating anc controlling. On the basis of his own experience in the field, Fayol set fourteen principles of management. These are as follows : 1. Division of work- Man acquires greater skill when he specializes in single operation. Division of work makes it possible to specialize in a single thing rather than doing everything by oneself. According to Fayol the principle of division of work should be applied to all kinds of work-technical as well managerial   2. Authority and Responsibility--Respon...

 Management as Art or Science  By nature of the management we imply here whether management can be regarded as a science or as an art or both.   Management as a Science- Science is the systemized body of knowledge pertaining to a particular field of enquiry. Such systemized body of knowledge contains concepts, hypotheses, theories, experimentation, and principles. Being systematic means being orderly and unbiased. The attempt to gain knowledge must be without taint of personal or other prejudgment. The various concepts and principles are developed through deductive and inductive approaches. Under deductive approach, generalizations are made from a universal truth on the basis of logical reasoning and sequential extension of that logication of events and facts and verifying these facts through continued observations. The wo approaches are mutually complimentary because scientists look for casual relationship of a particular Phenomenon. When the generaliza...