Significance of Management Principles
Provide useful insights to manager :- Principle of managers provides useful insights to managerial behaviour and influence managerial practices. These principles will add to their knowledge ability and understanding of managerial situations and circumstances.
Managers may apply inside principles to fulfill their task and responsibility. They enable the managers to learn from past mistakes and save time by solving recurring problems fast. So, management principles increase management efficiency.
Optimum Utilisation of Resources :- Management principles aim at optimum utilization of human and physical resources for the attainment of organizational goals. By optimum utilization, we learn that resources should be put to use in such a manner that they should give maximum benefit with minimum cost.
e.g:-  Science not rule of thumb suggest-every task should be done with minimum required efforts and energy.
Scientific Decisions
Management principles enable the managers to approach various problems systematically & scientifically & keep them in taking scientific decisions to meet changing conditions. Management decisions taken on the basis of principles are free from bias and prejudice because they emphasize logic rather than blind faith.
Meeting Changing Environment requirements :- Management principles train the managers to adopt the changes in technology in right direction and at right level in the organization. Thus, although the management principles are general guidelines, yet they are modified by the manager to meet changing requirements of the environment.
Fulfilling social Responsibility :-  Management principles not only act as guidelines for achieving organisational objectives but this principle also guide the managers to perform social responsibility.
E.g:- principles of “Fair Remuneration’ insists on adequate salary to employee.

Techniques of Scientific Management
Functional foremanship :- It is an extension of the principle of division of work on specialization to the shop floor. Each worker will have to take order from eight foremen in the related process of function of production.
Basic Aim of Functional Foremanship :-To separate planning functions from executive (operative) functions. Under the factory manager there was a planning in change and a production incharge.
1. Under planning incharge, four personnel, namely, instruction card clerk, route clerk, time clerk and cost clerk and disciplinarian worked. These four personnel would draft instructors for the workers specify the route of production prepare time and cost sheet and ensure discipline, respectively.
2. Under production incharge four personnel who would work were speed boss, gang boss, repair boss and inspector. They were responsible for timely and accurate completion of job, keeping machines and tools etc., ready for operation by workers, ensure proper working condition of machines and tools and chick the quality of work.
3. Foremen should have intelligence, education, tact, judgment, special knowledge, energy, honesty and good health all these qualities cannot always be found in a single foreman. So, Taylor purposed eight specialists.

Taylor's scientific management
Scientific management means applying the standardised methods and tools to increase the output, its quality and to reduce costs and wastages. It is a systematic and thoughtful approach. In the words of Taylor, 'Scientific management means knowing exactly what you want men to do and seeing that they do it the best and the cheapest way.'
It emphasises replacement of 'rule of thumb' i.e. personal judgement, by scientific selected methods and tools.
Principles of Scientific Management
The philosophy of scientific management is based upon the following principles:
1. Science, not Rule of Thumb
This principle of scientific management discards the old approach of rule of thumb. According to Taylor, each job should be performed in an organisation as per the scientific approach, as there is always one best method to maximise efficiency.
This method can be developed through study and analysis. It involves the following steps:
(i) Investigation of traditional
(ii) unifying the best practices
(iii) Developing a standard method.
Selecting 'one best method' for activities can result in saving time, effort, money and resources.
2.Harmony, not Discord
According to this principle, Taylor emphasised that there should be complete harmony between the management and workers and there should be transformation in thinking of both parties, called mental revolution.
It implies that management should share the gains with workers and workers should work hard for the betterment of the business.
It also emphasises that prosperity of the employer cannot exist for long fit it is not accompained by the prosperity of its employees, and vice versa. e.g. Japnese work culture, where the workers wear a black badge if they go on strikes and works more than normal working hours to gain the sympathy of the management.
3.Cooperation, not Individualism
This principle is an extension of principle of harmony, not discord. According to this principle, 'Competition should be replaced by cooperation. Management and workers both should realise that they need each other'. For this, management should entertain and reward the constructive suggestions of employees and follow paternalistic style of management. At the same time, workers should also cooperate with management, desist from going on strikes and making unreasonable demands to the management. According to Taylor, there must be an equal division of work and responsibility between workers and management.
4. Development of Each and Every Person his/her Greatest Efficiency
According to this principle, 'Each person should be scientifically selected and then assigned work as per their specialisation and in any case, if training is required, then impart training to them as efficient employees would produce more and earn more'. Worker training is essential to learn the 'best method' developed as per the scientific approach. This would ensure greatest efficiency for both, workers and the organisation.

Taylor's scientific management
Scientific management means applying the standardised methods and tools to increase the output, its quality and to reduce costs and wastages. It is a systematic and thoughtful approach. In the words of Taylor, 'Scientific management means knowing exactly what you want men to do and seeing that they do it the best and the cheapest way.'
It emphasises replacement of 'rule of thumb' i.e. personal judgement, by scientific selected methods and tools.
Principles of Scientific Management
The philosophy of scientific management is based upon the following principles:
1. Science, not Rule of Thumb
This principle of scientific management discards the old approach of rule of thumb. According to Taylor, each job should be performed in an organisation as per the scientific approach, as there is always one best method to maximise efficiency.
This method can be developed through study and analysis. It involves the following steps:
(i) Investigation of traditional
(ii) unifying the best practices
(iii) Developing a standard method.
Selecting 'one best method' for activities can result in saving time, effort, money and resources.
2.Harmony, not Discord
According to this principle, Taylor emphasised that there should be complete harmony between the management and workers and there should be transformation in thinking of both parties, called mental revolution.
It implies that management should share the gains with workers and workers should work hard for the betterment of the business.
It also emphasises that prosperity of the employer cannot exist for long fit it is not accompained by the prosperity of its employees, and vice versa. e.g. Japnese work culture, where the workers wear a black badge if they go on strikes and works more than normal working hours to gain the sympathy of the management.
3.Cooperation, not Individualism
This principle is an extension of principle of harmony, not discord. According to this principle, 'Competition should be replaced by cooperation. Management and workers both should realise that they need each other'. For this, management should entertain and reward the constructive suggestions of employees and follow paternalistic style of management. At the same time, workers should also cooperate with management, desist from going on strikes and making unreasonable demands to the management. According to Taylor, there must be an equal division of work and responsibility between workers and management.
4. Development of Each and Every Person his/her Greatest Efficiency
According to this principle, 'Each person should be scientifically selected and then assigned work as per their specialisation and in any case, if training is required, then impart training to them as efficient employees would produce more and earn more'. Worker training is essential to learn the 'best method' developed as per the scientific approach. This would ensure greatest efficiency for both, workers and the organisation.

i) Principle of `Equity’
(a) Similar treatment is assured to employees in similar positions.
(b) Fair & Impartial treatment to employees.
ii) a) No discrimination on any basis.
b) Providing equal opportunities to all.

i) Gender biasness
ii) Conservatism
iii) Effect of male dominating society
iv) Inequality of rights for same work

In every organization resources such as men machines, materials and money play a vital role. Management principles are designed in such a way that maximum benefits from these resources can be achieved with minimum resources wastage. Along with this principles of management also help in establishing effective administration by limiting the boundary of managerial discretion so that their decisions may be free from personal biases.

Management principles are relative not absolute. Yes, management principles are not absolute. They can not be applied blindly in all situations and in all organizations. They have to be applied keeping in view the prevailing situation. They require the room for modification as same principle may produce different result in different situations.

Nature of managerial principles
(a) General guidelines— They are not readymade solutions to all managerial problems, rather they are general guidelines to help the management.
(b) Formed by practice and experimentation — They are not developed overnight. They are derived on the basis of observations and analysis of events which managers face in actual practice. Secondly they are derived after conducting experimental studies.
(c) Flexible— They can be modified by managers to meet the needs of the situations.
(d) Universal Applicability— They are applicable to all types of organizations

Time study determines the standard time taken by workmen to perform a given task. The purpose of time study are as follows:-
(i) To decide how much time is normally required to perform a certain job,
(ii) To determine a fair day’s work for the workmen.
(iii) To determine the number of workers to be employed.
(iv) To frame suitable incentive schemes.