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Four Principles of Management

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Four Principles of Management
Jacqueline Garcia
University of Phoenix
November 10, 2007

Many Fortune 500 companies have management training programs. A company must always have the competitive edge over its competitors. These companies must invest in creating curriculums to help the mangers create motivation in the employees as well as attain the goals set forth by the corporation. According to the Random House Unabridged Dictionary, management is "the act or manner of managing: handling, direction, or control; skill in managing, the person or persons controlling and directing the affairs of a business institution, etc." A great manager must know and implicate the four major principles of management. The principles of …show more content…

The organization needs to have open communication at all times so the employees feel comfortable in voicing opinions and complaints. Management must always be motivating the team because of the highly stressful environment. Motivation comes in the form of verbal praise to monetary incentives at the end of every month. This is a gear that must be in constant motion to make the employees happy and efficient.
The final principle is controlling. This is the management function of monitoring performance and making the necessary changes (Bateman, 2007). Keeping an eye on things is the way to be absolutely certain that everything is going according to plan. Problems will arise but this is why the plan executed in the beginning will help to create solutions.
Bank of America, being so large, is monitored all the time. We must adhere to state and federal laws and regulations. Meetings are done frequently to address issues that are happening around the United States which may directly or indirectly affect performance. The manager of each team monitors the individuals with all the high tech screens on their computers. Controlling what can be controlled and having a contingency plan for when problems occur keep the bank at its high peak in the financial realm.
The four management principles are applied to all great companies. Planning helps set the stage for the organizing the team to its appropriate places. Leading generates loyalty, and

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