This article throws light upon the top five principles of scientific management theory suggested by Taylor. The principles are: 1. Rule of Thumb should be Replaced with Science 2. There should be Harmony, not Discord in Group Action 3. Cooperation, not Individualism 4. Maximum Output, not Restricted Output5. Development of Workers to their Fullest Capacity. Principle # 1. Rule of [...]
This article throws light upon the 7S model developed by McKinsey for understanding the framework of management. The seven S are: 1. Strategy 2. Structure 3. Systems 4. Style 5. Staff 6. Skills 7. Shared Values. 1. Strategy: Strategy making is an important variable that affects managerial excellence. Strategy means determination of objectives and allocation of resources to achieve these [...]
This article throws light upon the top four theories of authority. The theories are: 1. Formal or Classical Theory of Authority 2. Acceptance Theory of Authority 3. Authority Theory of the Situation 4. Competence Theory of Authority. 1. Formal or Classical Theory of Authority: This is known as top-down authority. It supports the principle of scalar chain or organisational hierarchy. [...]