CBSE Class 12 Business Studies Chapter 2 - Principles of Management

Principles of Management Class 12 Revision Notes

In the principles of management class 12 notes, we will study the business principles guiding the working of Toyota Motor Corporation. Then, we will study the fascinating evolution of management principles. Furthermore, we will study the concept of Principles of Management. Thus, we will see as to how a managerial principle serves as a broad and general guideline for decision making and behavior. Moreover, we will study nature i.e. the qualities and characteristics of Principles of Management. Also, we will read the case study of ‘Kiran Mazumdar Shaw’, a highly successful Indian businesswoman and CEO of ‘Biocon’. From the story, we will understand the significance of management principles. Hence, we will get to know that the principles of management derive their significance from their utility. We will discuss the significance of management principles in terms of six useful points.

Then, we will study the scientific management proposed by the Father of Scientific Management F.W. Taylor. Also, we will read an extract depicting his contribution to Scientific Management. Thus, we will study Principles of Management as proposed by Taylor. Also, we will study the techniques of Scientific Management. Furthermore, we will be discussing the methods to standardize and simplify the work. Then, we will discuss the 14 principles of management as listed by Henri Fayol. These helped in improving managerial efficiencies. In the end, we will compare the contributions of Taylor and Fayol.

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Sub-topics under Principles of Management:

Concept of Principles of Management: In this Subtopic, we will understand how a managerial principle serves as a broad and general guideline for decision making and behavior.
Fayol’s Principles of Management: In this Subtopic, we will study the 14 principles of management as listed by Henri Fayol which helped in improving managerial efficiencies.
Taylor’s Scientific Management: In this Subtopic, we will study the scientific management proposed by the Father of Scientific Management F.W. Taylor.

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