Higher the risk higher the profits

What are the main principles of management?

Direction

Leadership

Motivation,morale and humans relations

Coordination

Controlling

Let's Begin with direction

According to koontz and O'Donell: directing is a complex function that includes all those activities which are designed to encourage subordinate to work effectively and efficiently in both the short and long run"

Direction plays a significant role in achieving objectives of the organization.it is not only issues but guides and motivates people in the organization which inspire people to work hard for achieving objectives. Thus, directing is the great improtance for achieving goals and objectives.

Direction is the heart of the management around which all managerial activities are grouped. it is a creative function that makes things happen by converting planning to performance.

Leadership

motivation is the process through which employees are made to contribute voluntarily to work, leadership is ability to pursuade and motivate others to work in a desire way for achieving the goal.

Leadership is the process of influencing others towards the accomplishment of goals. It is the ability of manager to include subordinates to work with confidence and zeal. 

A key of effective leadership is helping followers to watch is there respective essential goals as well as their maximum potentialities. Dynamic leaders video therefore, should have the ability to awaken in others the desire to follow common objective in a given situation, leadership, thus, is a function of a leader, the followers and other situational variables.

* Motivation

Motivation is an important factor which encourages persons to give their best performance and help enriching enterprise goals. Strong positive motivation will reduce the same performance. According to Likert it is the case of Management which shows that every human being earnestly seeks a secure, friendly and support your relationship which gives him a sense of Worth in face to face groups which are most important to him.

Motivation is a psychological phenomenon

As the person's activation depend upon the the felts needs and expectation. The process of motivation which is mainly concerned with needs, desire, expectation, confidence, satisfaction is psychological phenomenon. The psychology of every individual is that every individual is different from others and hence it is very difficult to as certain in practice what devices and incentives will motivate a person to a desired goals.

* Coordination

Coordination is the unification integration synchronisation of all the efforts of group members so as to provide unity of action in the pursuit of common goals. It is a hidden force which binds all the other functions of Management. According to mooney and reillay , ''co-ordanation is the integration of several parts into orderly hole to achieve the purpose of understanding"

management seeks to achieve coordination through its basic function of planning, organization, staffing, directing and controlling. that's why coordination is not a separate function of management because achieving of harmony between individual efforts towards achievement of groups goals is a key of success of management.

* Principles of early beginning

The first principle of coordination is that should be arranged in the early stage of management process. The coordination should be started at the planning and policy making stages. If it is not started in the early stage, management will find it difficult or impossible to work for enterprise. Without coordination at early stage a manager cannot integrate the activities and efforts of all the individuals working in enterprise. Coordination can be easily achieved at this stage of planning through consultation, exchange of ideas and corporation.

* Controlling

the managerial function controlling always maximize the use of scarce resources to achieve the purposeful behaviour of employees in an organisation. In planning stage, it is decided that how the resources would be utilised but where as in the saving plan or not. Thus, control completes the whole sequence of management process

Importance of controlling

Control system act as an adjustment in organisation operations. It mainly checks whether plan are been observed and suitable progress two objectives is been made or not, and if necessary any action to control deviations. With the presence of authority aur control the individual will work properly and exhibit better performance to reach the target set for them. Control system ensures organisational efficiency and effectiveness. When proper system exists The organisation effectively achieve their objectives.

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