PART B
MICRO-PROJECT
SIXTH SEMESTER
Subject- Management (22509)
TITLE- Study of management principles applied to a large
scale industry
• Brief Introduction
The principles of management derive their significance from their utility.
They provide useful insights to managerial behaviour and influence
managerial practices. Managers may apply these principles to fulfil their
tasks and responsibilities. Principles guide managers in taking and
implementing decisions. It may be appreciated that everything
worthwhile is governed by an underlying principle.The quest of the
management theorists has been and should be to unearth the
underlying principles with a view to using these under repetitive
circumstances as a matter of management habit .
A managerial principle is a broad and general guideline for decision
making and behaviour. For example while deciding about promotion of
an employee one manager may consider Seniority, whereas the other
may follow the principle of merit. One may distinguish principles of
management from those of pure science.
• Aims of Micro Project
✓ To know in detail about management principles applied to large scale
industry
✓ To provide in depth knowledge about management principles
✓ Prepare a report on the management principles applied to large scale
industry
✓ The project entitled “Study of Management Principles Applied to A Large
Scale Industries” is aimed at providing knowledge of various types of
principles applied to a large scale industries.
• Course Outcomes Addressed
✓ Use basic management principles to execute daily activities.
✓ Use principles of planning and organising for accomplishment of tasks.
✓ Use principles of directing and controlling for implementing the plans
• Proposed Methodology
✓ Discussion of the topic of the micro-project with the teacher.
✓ Discussion with all the team members and assigning jobs
✓ Collecting data and information required for making of the micro-
project.
✓ Preparing the micro-project.
✓ Preparing the reports of the micro-project.
✓ Going through the micro-project once again.
✓ Submitting the project to the teacher.
• Literature Review:
Management consists of functions that are done in organization which
includes making Plans, Organizing, Staffing, Leading and Controlling.
There are various principles that have to be practiced, so that objectives
are achieved by optimally utilising resources in a effective and efficient
manner.
Management system help the industries by providing some principles
that can be used to take some effective decision, planning for the
business activity, Taking some decisions for better future.
• Skills Developed
✓ Working together in a team
✓ Exchanged thoughts to develop our com
✓ communication skills.
✓ Learned management principles applied to a large scale industry
✓ Leadership skills developed
• Application of Microproject
✓ We use basic management principle to execute industrial activities
✓ We Use principles of planning and organizing for accomplishment of
tasks.
• Output of the Microproject
Large scale industries follows certain well-defined business
principles guiding its functioning. These are:
✓ Division of work :
According to this principle, work should be divided among workers
according to their personal aptitude and skills.
It leads to specialization which is necessary for efficient utilization of
labour. This will result in efficient and productivity.
✓ Authority and Responsibility :
Managers need to have the authority (and with it responsibility)
to command their teams. When managers have teams reporting to them
they are usually responsible for the team’s performance
✓ Discipline :
Discipline is absolutely necessary for efficient functioning of all sections
of an organization.
Discipline is described as “Respect for agreements that ar directed at
achieving obedience, application, and the outward marks of respect”.
✓ Unity of command :
This principle relates to the functioning of personnel. According to this
principle an employee should receive orders and instructions from one
superior only.
This principle useful to avoid confusions , mistakes and delays in work.
✓ Unity of direction :
This is broader concept than unity of command. It deals with the
functioning of the body corporate. According to this principle, Each to
this principle, each group of activities having the same objective must
have one head and one plan
✓ Subordination of individual interest to general interest:
In any organization, the interest of the organization should be above
that of the individual.
This is necessary to maintain unity and avoid friction among employees.
✓ Order:
According this principle, everything(material)and everyone (human
being), has a specific place in the organization. They should be arranged
such that right material/right person should be located at the right place
for effective functioning.
✓ Equity:
According to this principle, managers should treat all
employees/subordinates with fairness, kindness and justice.
This will make the employees to be more loyal and devoted towards the
organization.
✓ Stability of tenure of personnel:
Stable and secure work force is an asset to an enterprise. Stability of
tenure means ensuring that employees do not leave the company.
Instability is a result of bad management and increases the costs of
unnecessary labour turnover.
✓ Esprit de corps:
This principle of management emphasizes the need for team work, i.e.
harmony and understanding among the employees and shows the
importance of communication in obtaining such team work.
“Union is strength” is the essence of this principle.
✓ Remuneration of personnel :
Remuneration is the price paid by the organization to its employees for
the services rendered by them.
The remuneration and methods of payment should be fair and provide
maximum satisfaction to employee and employer
