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Shortcuts & Tricks for Principles of Management | Class 12 Commerce

Management Principles: Visual Notes

Handwritten notes on the Nature of Principles of Management

Handwritten notes explaining the significance and importance of management principles

Handwritten notes on Fayol's 14 Principles of Management, part 1

Handwritten notes on Fayol's 14 Principles of Management, part 2

Handwritten notes on the principle of Esprit De Corps

Balbharati Solutions: Organisation of Commerce and Management (OCM)

Maharashtra HSC Board Resources

HSC Board Papers (2019 & 2020)

Maharashtra Board Papers - March 2020

2019 Board Paper Solutions

Key Terms and Difficult Words

Principles: Fundamental truths or basic rules that act as a guide for thinking and action.
Management: The process of planning, organizing, leading, and controlling resources (like people and money) to achieve specific goals.
Universal Application: The idea that management principles can be applied in all types of organizations, regardless of their size, location, or purpose.
Flexibility: The ability of management principles to be modified or adapted by a manager to fit a specific situation.
Behavioural: Related to human actions and conduct. Management principles are behavioural as they aim to influence the actions of employees.
Contingent: Dependent on the situation. The application of a management principle may change depending on the circumstances at that time.
Optimum Utilization: Making the best possible use of available resources (like time, money, materials) with minimum wastage.
Coordination: The process of integrating the activities of different units of an organization to achieve its goals smoothly.
Subordination: Placing something in a lower rank or position. The "Principle of Subordination of Individual Interest to General Interest" means the company's goals are more important than any single employee's personal goals.
Remuneration: The payment or salary given to employees for their work. Fair remuneration is a key principle for motivating staff.
Initiative: The power or opportunity to act or take charge before others do. Encouraging employees to take initiative means allowing them to propose and carry out new ideas.
Esprit De Corps: A French term meaning "team spirit." It refers to a feeling of pride, fellowship, and common loyalty shared by the members of a group, which promotes unity and harmony.