Explain the nature of principles of management?What do you mean by optimum utilization of resources & effective administration?Discuss the following principles briefly:-Division of workDisciplineSubordination of individual Interest to general interestWrite the difference between unity of command and unity of direction?What does principle of initiative indicates?A manager should replace ‘I’ with ‘We’ in all his conversation with workers. Which principle of management states that? Explain it briefly.Briefly discuss science not rule of thumb and Harmony not discord as the principles of scientific management?Why Taylor introduced different rate of wage payment for those who performed above and below standard performance?Explain functional foremanship as a technique of scientific management?Define scalar chain as a principle of management?

The principles of management are the essential, underlying factors that form the foundations of successful management. These principles are used by managers to make decisions and guide their actions. They are drawn from a range of sources, including observation, experimentation, and theoretical analysis.

Optimum utilization of resources refers to the efficient use of resources in a way that minimizes waste and maximizes output. It involves using the least amount of resources to achieve the greatest output. Effective administration, on the other hand, refers to the process of efficiently managing the operations of an organization. It involves planning, organizing, directing, and controlling the resources of the organization to achieve its goals.

1. Division of work: This principle suggests that work should be divided among individuals based on their skills and expertise, to ensure efficiency and effectiveness.
2. Discipline: This principle emphasizes the importance of rules and regulations in maintaining order within an organization.
3. Subordination of individual interest to general interest: This principle suggests that the interests of an organization should take precedence over the interests of any one individual.

Unity of command refers to the principle that an employee should receive orders from one superior only. Unity of direction, on the other hand, refers to the principle that there should be one head and one plan for a group of activities with the same objective.

The principle of initiative indicates that employees should be given the freedom to think and act. It encourages employees to take initiative in their work, which can lead to improved productivity and innovation.

The principle that states a manager should replace ‘I’ with ‘We’ in all his conversations with workers is the principle of Esprit de Corps. This principle emphasizes the importance of teamwork and unity within an organization.

Science not rule of thumb and Harmony not discord are principles of scientific management. The former suggests that decisions should be based on scientific research and analysis rather than on intuition or personal judgment. The latter emphasizes the importance of cooperation and harmony among workers, rather than competition and discord.

Taylor introduced different rates of wage payment for those who performed above and below standard performance to incentivize workers to perform better. This system rewards those who exceed the standard performance and encourages others to improve their performance.

Functional foremanship is a technique of scientific management that involves dividing the responsibilities of a foreman into several different functions, each of which is handled by a specialist. This allows for greater efficiency and effectiveness in management.

The scalar chain is a principle of management that refers to the hierarchy within an organization. It is a chain of authority and communication that runs from the top to the bottom of the organization, and vice versa.