Henri Fayol
He gave these important principles for management

1.
Division of work. Specialization increases output by making employees more efficient.
2.
Authority. Managers must be able to give orders. Authority gives them this right. Along with authority, however, goes responsibility.
3.
Discipline. Employees must obey and respect the rules that govern the organization.
4.
Unity of command. Every employee should receive orders from only one superior.
5.
Unity of direction. The organization should have a single plan of action to guide managers and workers.
6.
Subordination of individual interests to the general interest. The interests of any one
employee or group of employees should not take precedence over the interests of the organization as a whole.
7.
Remuneration. Workers must be paid a fair wage for their services.
8.
Centralization. This term refers to the degree to which subordinates are involved in decision making.
9.
Scalar chain. The line of authority from top management to the lowest ranks is the scalar chain.
10.
Order. People and materials should be in the right place at the right time.
11.
Equity. Managers should be kind and fair to their subordinates.
12.
Stability of tenure of personnel. Management should provide orderly personnel planning and ensure that replacements are available to fill vacancies.
13.
Initiative. Employees who are allowed to originate and carry out plans will exert high levels of effort.
14.
Esprit de corps. Promoting team spirit will build harmony and unity within the organization.

Features of Bureaucratic Organisation

The characteristics or features of Bureaucratic Organisation are as follows :-

There is a high degree of Division of Labour and Specialisation.

There is a well defined Hierarchy of Authority.

It follows the principle of Rationality, Objectively and Consistency.

There are Formal and Impersonal relations among the member of the organisation.

Interpersonal relations are based on positions and not on personalities.

There are well defined Rules and Regulations. There rules cover all the duties and rights of the employees. These rules must be strictly followed.

There are well defined Methods for all types of work.

Selection and Promotion is based on Technical qualifications.

Only Bureaucratic or legal power is given importance

Hawthorne studies:

In 1927, the Western Electric engineers asked Harvard professor Elton Mayo and his associates to join the study as consultants. Thus began a relationship that would last through 1932 and encompass numerous experiments in the redesign of jobs, changes in workday and workweek length, introduction of rest periods, and individual versus group wage plans.

For example, one experiment was designed to evaluate the effect of a group piecework incentive pay system on group productivity. The results indicated that the incentive plan had less effect on a worker's output than did group pressure, acceptance, and the accompanying security. The researchers concluded that social norms or group standards were the key determinants of individual work behavior.

Scholars generally agree that the Hawthorne Studies had a dramatic impact on the direction of management beliefs about the role of human behavior in organizations. Mayo concluded that behavior and sentiments are closely related, that group influences significantly affect individual behavior, that group standards establish individual worker output, and that money is less a factor in determining output than are group standards, group sentiments, and security. These conclusions led to a new emphasis on the human behavior factor in the functioning of organizations and the attainment of their goals.

However, the conclusions from the Hawthorne Studies weren't without criticism. Critics attacked the research procedures, analyses of findings, and the conclusions.From a historical standpoint, however, it's of little importance whether the studies were academically sound or their conclusions justified. What is important is that they stimulated an interest in human behavior in organizations. The Hawthorne Studies played a significant role in changing the dominant view at the time that employees were no different from any other machines that the organization used.

is the process whereby an individual or a group of individuals uses organized efforts and means to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources are currently controlled. It involves the discovery of opportunities and the resources to exploit them. Three important themes stick out in this definition of entrepreneurship. First is the pursuit of opportunities. Entrepreneurship is about pursuing environmental trends and changes that no one else has seen or paid attention to.

Total quality management

principles

1.
Intense focus on the customer. The customer includes not only outsiders who buy the organization's products or services but also internal customers (such as shipping or accounts payable personnel) who interact with and serve others in the organization.
2.
Concern for continual improvement. TQM is a commitment to never being satisfied. "Very good" is not good enough. Quality can always be improved.
3.
Process-focused. TQM focuses on work processes as the quality of goods and services is continually improved.
4.
Improvement in the quality of everything the organization does. TQM uses a very broad definition of quality. It relates not only to the final product but also to how the organization handles deliveries, how rapidly it responds to complaints, how politely the phones are answered, and the like.
5.
Accurate measurement. TQM uses statistical techniques to measure every critical variable in the organization's operations. These are compared against standards or benchmarks to identify problems, trace them to their roots, and eliminate their causes.
6.
Empowerment of employees. TQM involves the people on the line in the improvement process. Teams are widely used in TQM programs as empowerment vehicles for finding and solving problems.

The Omnipotent View

This view reflects a dominant assumption in management theory: The quality of an organization's managers determines the quality of the organization itself. It's assumed that differences in an organization's effectiveness or efficiency are due to the decisions and actions of its managers. Good managers anticipate change, exploit opportunities, correct poor performance, and lead their organizations toward their objectives, which even may be changed if necessary. When profits are up, management takes the credit and rewards itself with bonuses, stock options, and the like. When profits are down, the board of directors often replaces top management in the belief that "new blood" will bring improved results. For instance, it only took nine months for the board of directors at Lands' End, the catalog retailer, to replace its top manager when its operating income declined and holiday sales fell far short of expectations.
The view of managers as omnipotent is consistent with the stereotypical picture of the take-charge business executive who can overcome any obstacle in carrying out the organization's objectives. This omnipotent view, of course, isn't limited to business organizations. We can also use it to help explain the high turnover among college and professional sports coaches, who can be considered the "managers" of their teams. Coaches who lose more games than they win are seen as ineffective. They are fired and replaced by new coaches who, it is hoped, will correct the inadequate performance.
In the omnipotent view, when organizations perform poorly, someone has to be held accountable regardless of the reasons why, and in our society, that "someone" is the manager. Of course, when things go well, we need someone to praise. So managers also get the credit—even if they had little to do with achieving positive outcomes.

says that a manager's ability to affect outcomes is influenced and constrained by external factors. In this view, it's unreasonable to expect managers to significantly affect an organization's performance. Instead, an organization's results are influenced by factors outside the control of management. These factors include the economy, market (customer) changes, governmental policies, competitors' actions, conditions in the particular industry, control over proprietary technology, and decisions made by previous managers.

According to the symbolic view, managers have a limited effect on organizational outcomes. A manager's roles are seen as creating meaning out of randomness, confusion, and ambiguity or trying to innovate and adapt. Managers symbolize control and influence by developing plans, making decisions, and engaging in other managerial activities. They do so for the benefit of stockholders, customers, employees, and the public. However, according to this view, the actual part that managers play in organizational success or failure is minimal.

Organizing: laying out the implementations of the plan thats been thought

Leading: Working with and through people

Controlling: Comparing our performance with standards and doing corrective measures

Stake Holder

and Share holder whats the difference??

Stake holders are all people who are effected by decision making of a company

share holders are all people who have a document legal document of a company that explains their ownership in company

Is it ethical for a salesperson to offer a bribe to a purchasing agent as an inducement to buy? Would it make any difference if the bribe came out of the salesperson's commission? Is it ethical for someone to use a company car for private use? How about using company e-mail for personal correspondence?
The term ethics refers to rules and principles that define right and wrong conduct. In this section, we examine the ethical dimension of managerial decisions. Many decisions that managers make require them to consider who may be affected—in terms of the result as well as the process. To better understand the complicated issues involved in managerial ethics, we'll look at four different views of ethics, look at the factors that influence a manager's ethics, and offer some suggestions for what organizations can do to improve the ethical behavior of employees.

1. Find problem

2. Set standards for solving

3. Give weight to standards

4. Evaluate alternates

5. Go for a alternate

6. Check results

Rationality :
Managerial decision making is assumed to be rational. By that we mean that managers make consistent, value-maximizing choices within specified constraints.6 What are the underlying assumptions of rationality,

that is, they behave rationally within the parameters of a simplified decision-making process that is limited (or bounded) by an individual's ability to process information

Goals are desired outcomes for individuals, groups, and entire organizations.Goals are objectives, and we use the two terms interchangeably. They provide the direction for all management decisions and form the criterion against which actual work accomplishments can be measured. That's why they're often called the foundation of planning. If you don't know what that desired target or outcome is, how could you establish plans for reaching it? Plans are documents that outline how goals are going to be met and that typically describe resource allocations, schedules, and other necessary actions to accomplish the goals. As managers plan, they're developing both goals and plans.
Goals,

A budget is a numerical plan for allocating resources to specific activities. Managers typically prepare budgets for revenues, expenses, and large capital expenditures such as equipment. It's not unusual, though, for budgets to be used for improving time, space, and use of material resources. These types of budgets substitute nondollar numbers for dollar amounts. Such items as person-hours, capacity utilization, or units of production can be budgeted for daily, weekly, or monthly activities.

POLITICAL
ECONOMIC
SOCIAL
TECHNOLOGY

A company must assess these factors for its business then it can decide what steps or measures to take

STRENGTH

WEAKNESS

OPPORTUNITY

THREATS

This test is also done to assess the strengths weakness opportunities and threats of company