Cheat sheet · Class 12 · CBSE · Commerce Business Studies
Principles of Management cheat sheet
The whole chapter on one page: key formulas, facts and the points to remember, for quick revision before a test.
CBSE Class 12 · Business Studies
Cheat sheet
Chapter 2Principles of Management
Fayol's 14: Division of work, Authority, Discipline, Unity of command, Unity of direction…
1. Fayol's 14 Principles
- division of work
- authority & responsibility
- discipline
- unity of command
- unity of direction
- subordination of individual interest
- remuneration
- centralisation & decentralisation
- scalar chain
- order
- equity
- stability of tenure
- initiative
- esprit de corps
Gang plank: direct contact at the same level in emergencies (scalar chain).
2. Taylor's Scientific Management
| Principles | Techniques |
|---|---|
| Science, not rule of thumb | functional foremanship (8 foremen) |
| Harmony, not discord | standardisation & simplification |
| Cooperation, not individualism | method, time, motion, fatigue study |
| Development of each person | differential piece-wage system |
3. Key Points
- Principles are flexible, general guidelines.
- Mental revolution: change attitude of both sides.
- Unity of command: one boss per employee.
- Fayol: father of general management.
Remember: 14 principles | Taylor's principles & techniques
Principles of Management: questions and notes
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