Principles of Management

You may either be a practising manager or are aspiring to be one. Your first concern, therefore, should be to know the tasks which you are expected to fulfil to achieve your targets. Once you are aware of your responsibilities as a manager, you have to get down to the details of actually performing all the tasks. For this, you must understand the various systems and processes involved in management. It does not matter whether you manage a private or a public sector commercial company such as a power utility or a non-commercial organisation like a state/central business outlet. The principles of managing an organisation remain the same.In this unit, we begin with the introduction of the systems concept and see how it can be applied to organisations. We discuss the management processes of planning, controlling, organizing, motivating and leading. We then explain the values in terms of organisation and the importance of work ethics, the role of corporate governance and ethics. You will also learn about the importance of management of projects and contracts. Lastly, we discuss the significance of supply chain management and the importance of performance management in
an organisation.In the next unit, we discuss the concept of customer relationship management which is perhaps the most important aspect of managing an enterprise.