08-16-2017, 10:20 PM
Principles of Management by Henri Fayol with Case Study
1. Batch : 2014 Course Code : 50121106 Course Name : (Principles of Management I) Roll No. : 720 Assignment No. : A 112
2. Emphasizing more on Tata Beverage Group
3. 1 Division of Work We know that TATA Group is an umbrella that covers various business industries. Considering this, it only makes sense to divide work by allocating it to different employees, thereby enabling them to build up experience and continuously increase and improve their skills. This leads to increased productivity and ultimately higher profits. For instance, Tata Beverage Group recruits for the following areas :- Plantation Management Finance Sales and Distribution Brand Marketing Information Technology Medical Professionals
4. 2 Authority Authority, as defined by Fayol, is the right to give orders and the power to exact obedience. Tata Group realizes that MNCs decision making and conflict resolution follow a straight line. It believes that if decisions are held up due to conflicting viewpoints, the issue is expected to speedily traverse up the line for a resolution. Sometimes there is no empowerment. For instance - An employee of a Tata Beverage Group is entrusted with confidential/insider information. He shall not use or proliferate information that is not available to the investing public. By doing this, the company provides authority to its employees of holding such information. At the same time, responsibility is exacted by the employees that this information will remain confidential throughout their term with the company. Such insider information might include - Raising of finances, Restructuring plans., Asset revaluations, Financial information such as profits, earnings and dividends etc.
5. Discipline Goes without mentioning, successful organization requires the common effort of workers, even if judicious use of penalties are required to exact this effort. Tata has drafted its own Code of Conduct to guide the behavior of its employees. Highlights of this Code of Conduct :- Every employee of a Tata company, including full-time directors and the chief executive, shall exhibit culturally appropriate deportment in the countries they operate in, and deal on behalf of the company with professionalism, honesty and integrity, while conforming to high moral and ethical standards. Every employee of a Tata company shall preserve the human rights of every individual and the community, and shall strive to honour commitments. Every employee shall be responsible for the implementation of and compliance with the Code in his / her environment. Failure to adhere to the Code could attract severe consequences, including termination of employment. [Penalty]