What Are Management Principles?posted by Anna Mar, May 22, 2013
What Are Management Principles?A management principle is a guideline that can be used to improve management results.
Principle formation is usually a collaborative process that involves all stakeholders in an organizational, departmental or team.
Once in place, principles are used to direct strategy, tactics and decisions.
So What?Management principles provide your team with several benefits:
Application of principles makes your decisions and actions more consistent.
Principles provide direction for faster decisions and actions.
- Reduces Politics
Principles can reduce political infighting by establishing a framework for decisions.
Principles are a control mechanism that can be used by executive managers to direct decisions at every level of an organization.
How to Manage By PrinciplesThe challenge to managing by principles is establishing a good set of principles. This is usually a highly political process.
A good principle strikes a balance. Principles that are too vague or open will have no business relevance. Principles that are too specific and restrictive can damage your business.
The moment you get principles in place. Your teams will use them. A solid set of principles tend to get a great deal of use.
It's important for management to demonstrate commitment to principles by consistently applying them to decisions and strategy.
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