Principles of Management
Odisha Board · Class 12 · Business Studies
Flashcards for Principles of Management — Odisha Board Class 12 Business Studies. Quick Q&A cards covering key concepts, definitions, and formulas.
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Get startedWhat are principles of management?
Answer
Principles of management are broad and general guidelines for decision-making and behavior. They are basic truths that serve as guidelines for managerial actions and help managers take decisions while…
List the six key characteristics of the nature of management principles.
Answer
1. Universal applicability - apply to all types of organizations 2. General guidelines - not readymade solutions 3. Formed by practice and experimentation 4. Flexible - can be modified as per situatio…
Why are management principles significant? List the main benefits.
Answer
1. Provide useful insights into reality and increase managerial efficiency 2. Optimum utilization of resources and effective administration 3. Enable scientific decision-making based on facts 4. Help …
Who is known as the 'Father of Scientific Management' and what was his main contribution?
Answer
Frederick Winslow Taylor (1856-1915) is known as the 'Father of Scientific Management'. His main contribution was developing scientific methods to replace 'rule of thumb' approach in management. He be…
State Taylor's four principles of Scientific Management.
Answer
1. Science, not Rule of Thumb - Replace traditional methods with scientific analysis to find the best way 2. Harmony, not Discord - Complete mental revolution and cooperation between management and wo…
What is Functional Foremanship according to Taylor?
Answer
Functional Foremanship is Taylor's technique where instead of one foreman, eight specialists supervise workers. Under Planning Incharge: Instruction Card Clerk, Route Clerk, Time & Cost Clerk, Discipl…
Explain the Differential Piece Wage System.
Answer
This is Taylor's wage payment system that differentiates between efficient and inefficient workers. Workers who meet or exceed standard output get a higher rate per piece, while those below standard g…
What is the difference between Time Study and Motion Study?
Answer
Time Study: Determines standard time to perform a well-defined job using time measuring devices. Helps fix number of workers needed and frame incentive schemes. Motion Study: Studies body movements (…
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