Principles of Management: Useful Insights by One of the Leading MBA Private Colleges in Kolkata
Management is an important part of any business and MBA students who aspire to become managers need to understand the principles that are needed for effective management. By understanding principles of management, MBA students can develop the skills and knowledge necessary to become effective managers. As one of the leading MBA private colleges in Kolkata, we share with you essential principles of management:
- Planning: It is one of the most important principles of management. Planning means setting goals and determining measures necessary to achieve them. As a manager, you will be expected to anticipate challenges and opportunities and allocate resources accordingly. Planning also involves analysing a team’s strengths and weaknesses and then developing strategies to achieve the given target.
- Organising: Organising involves assigning tasks and responsibilities to team members according to their skills, aptitude and experience. Developing organisation skills will make sure that you will be able to get work done efficiently and effectively. For managers, organising means deciding how work should be divided. It involves creating systems and processes to support these decisions.
- Coordination: Managers do not work in silos. They have to ensure that different teams of the organisation are working together effectively and efficiently. For this, managers have to play the role of a coordinator. This involves establishing clear lines of communication and ensuring that different departments and teams are able to work towards common goals.
- Leading: Once you become a manager, you will be expected to motivate and inspire teammates to achieve their best work. Leading involves setting examples for others to follow and communicating expectations and goals clearly. It also involves offering guidance and support to others so that they can achieve their goals.
- Delegation: Delegation involves assigning tasks and responsibilities to team members and giving them the authority to carry out those tasks. It helps managers make the most effective use of their time and resources. Delegation involves deciding which tasks are best suited to different team members, and providing the necessary support and resources to ensure that those tasks are completed effectively.
- Communication: Effective communication is essential for any organisation. It involves sharing information and ideas clearly and consistently. As an MBA student, you must learn how to communicate effectively as communication is key to building trust and strengthening relationships within the organisation.
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