Principles and Fundamentals of Management

Comprehensive vocabulary flashcards covering the nature, objectives, levels, functions, managerial skills, and administrative principles of management.

Management

The continuous process of getting things done with an aim of achieving goals effectively and efficiently.

Effectiveness

Doing the right task and achieving organizational goals on time.

Efficiency

Completing tasks correctly while minimizing costs and maximizing output.

Organizational Objectives

The primary survival, profit, and growth goals that an organization strives to achieve.

Social Objectives

Management goals directed at benefiting society, such as using eco-friendly production methods, ensuring safety, providing basic amenities, and offering quality products.

Personal Objectives

Management goals centered on fulfilling employees' individual needs, including fair salaries, social recognition, and good working conditions.

Top Level Management

Senior executives (such as the CEO, CFO, CMO, Chairman, and President) responsible for setting overall goals and policies, making major decisions, and controlling the organization.

Middle Level Management

Departmental heads (such as Production, Finance, and Purchase Managers) who prepare departmental plans, supervise lower managers, and connect top executives with first-line supervisors.

First Level Supervisor

Operational managers, such as foremen and superintendents, who directly oversee workers, assign daily tasks, and maintain workplace discipline.

Planning

Determining in advance what to do, how to do it, when to do it, and who is to do it, centered on establishing clear goals.

Organizing

The managerial function of assigning duties, grouping tasks into departments, establishing authority relationships, and allocating necessary resources.

Staffing

The process of recruiting and placing the right person with the right qualifications in the right position at the right time.

Directing

The function of supervising, motivating, leading, and communicating with subordinates to guide them toward organizational goals.

Controlling

The function of monitoring and evaluating organizational performance to ensure work is aligned with established goals.

Figurehead Role

A symbolic managerial role representing the organization at ceremonial and legal functions.

Leadership Role

A managerial role focused on guiding, directing, and motivating subordinates to accomplish their work.

Technical Skills

The specialized knowledge and ability required to handle specific workflows, operations, and technical tasks.

Human Skills

Interpersonal abilities needed to communicate effectively, motivate personnel, and resolve workplace conflicts.

Conceptual Skills

The cognitive capability to diagnose complex situations, solve unusual problems, and formulate strategic decisions.

Science, Not Rule of Thumb

F.W. Taylor's scientific principle that replaces trial-and-error practices with systematic study to discover the one best method of performing a job.

Harmony, Not Discord

Taylor's principle emphasizing mutual trust, cooperation, and shared responsibility between workers and management to avoid conflict.

Development of Each and Every Person

Taylor's principle focused on training workers from selection onward to build physical, mental, and intellectual capabilities for maximum individual efficiency.

Division of Work

Henri Fayol's principle of breaking whole jobs into small, specialized tasks assigned according to individual employee capabilities.

Authority and Responsibility

Fayol's principle establishing that the official power to give orders must correspond with the duty to complete assigned work.

Unity of Direction

Fayol's principle dictating that groups of organizational activities sharing the same objective must be directed by one head under one plan.

Subordination of Individual Interest to General Interest

Fayol's principle asserting that the objectives and welfare of the organization must always take priority over the personal interests of any single employee.

Remuneration of Employees

Fayol's principle requiring fair financial wages alongside non-financial incentives, such as recognition, for employee contributions.

Stability of Personnel

Fayol's administrative principle stressing that workers must be assured reasonable job security to maintain efficiency and morale.

Initiative

Fayol's principle encouraging workers to develop and execute ideas, actively welcoming employee suggestions, and rewarding valuable input.

Esprit de Corps

Fayol's principle advocating team harmony, unity, and mutual trust by replacing 'I' with 'We' across the workforce.