Henri Ford, the Dearborn man on the outskirts of Detroit, the father of the famous Ford T, which was released in 1908, is at the origin of many principles of lean manufacturing. He is at the origin of the extraordinary boom of the automobile industry! With hindsight, we realize that the explosion of an industry is the result of two fundamental elements that go together:
Principles of Management
Principles of management are actually those set of rules and regulations on which probably the whole business organization layout depends upon. There are 14 principles which are probably followed by the most of business organizations. These 14 Principles of management is presented by the Henry Foyal in 1916. These principles of management are now days known as 14 principles of Henry Foyal in the business sectors.
McKinsey 7s Model is a tool designed for the purpose of examining the structural layout of a particular company or business through considering 7 important internal components, namely strategy, structure, systems, shared values, style, staff and finally skills. These 7s are probably known as McKinsey 7s Model in the business world.
Span of management, centralization and decentralization all comes under the heading of authority. It is a range of subordinates who are given instructions to report directly to a particular top level manager. Span of Management is also termed as Span of Control. As per precautions, managers should neither have few subordinates nor too many subordinates. Many researches specify that there is not any entirely correct span of management for managers of any sort. Further, the span of management may be broader or narrower depending on the certain conditions of the managerial jobs. The following are a few features of the entire process of span of management.
Process of Management by Objectives
With the aim to achieve greater efficiency and performance, employee’s motivation is really important to have and Management by Objectives (MBO) is a best approach to do so. This approach was proposed by Peter Drucker in the 1960’s, and by definition, process of management by objectives show a personnel management system, where the organization set, plan, monitor and achieve specific objectives with the mutual cooperation of both high level and low-level employees. For business passionate individuals, the concept of MBO may be clear, yet there is a need to understand the process of management by objectives.