This document discusses key lessons from corporate history and principles of management. It provides three short stories that convey moral lessons about managing change, the dangers of relying on superficial strategies, and knowing when to remain prudent. The document also summarizes the evolution of management thought from early theorists like Taylor to more modern contributors and discusses core management functions, skills, and goals of achieving objectives efficiently.

1. P RINCIPLES OF M ANAGEMENT MGT-201 Instructor’s Name HAMMAD TAHIR DIRECTOR EDC BIZTEK - I NSTITUTE OF B USINESS & T ECHNOLOGY

2. C ORPORATE L ESSONS So, we will be going through change Here’s three lessons from large corporations to help you survive change….

3. CORPORATE LESSON 1 So, the rabbit sat on the ground below the crow, and rested. A crow was sitting on a tree, doing nothing all day. A small rabbit saw the crow, and asked him, " Can I also sit like you and do nothing all day long?” The crow answered: " Sure, why not .” All of a sudden, a fox appeared, Jumped on the rabbit... and ate it.

4. CORPORATE LESSON 1 Moral of the story is…. To be sitting and doing nothing you must be sitting very, very high up.

5. CORPORATE LESSON 2 A turkey was chatting with a bull. The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The next day , after eating more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top of the tree. Soon he was spotted by a farmer Who promptly shot the turkey out of the tree. " I would love to be able to get to the top of that tree ," sighed the turkey, " but I haven't got the energy .” " Well, why don't you nibble on some of my droppings?" replied the bull. They're packed with nutrients."

6. CORPORATE LESSON 2 Moral of the story: Bullshit might get you to the top, but it won't keep you there.

7. CORPORATE LESSON 3 A little bird was flying south for the winter. As the frozen bird lay there in the pile of cow dung, it began to realize how warm it was. The dung was actually thawing him out! He lay there all warm and happy, and soon began to sing for joy. Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him out and ate him! It was so cold, the bird froze and fell to the ground in a large field. While it was lying there, a cow came by and dropped some dung on it. A passing cat heard the bird singing and came to investigate.

9. MANAGEMENT F ROM W HEN ?

10. The Evolution of Management Thought & The Patterns of Management Analysis

22. H ENRI F AYOL (1841-1925), His Fourteen Principles of Management included: Authority and responsibility Centralization Division of work Scalar chain Discipline Order Unity of command Equity Unity of direction Stability of tenure of personnel Subordination Initiative Remuneration of personnel Esprit de corps (union is strength).

26. M ANAGEMENT (T HE G LOBAL P ERSPECTIVE ) F UNCTIONS & S KILLS OF M ANAGEMENT

28. A REA C ARRYING O UT M ANAGERIAL F UNCTIONS First Level Supervisors Top Level Managers Middle Level Managers ORGANIZATIONAL HIERARCHY Planning Organizing Leading Controlling

29. S KILLS & M ANAGEMENT S KILLS Concept & Design Skill Human Skill Technical Skill Top Management Middle Management Middle Management Middle Management Supervisors Assistance

30. L EVELS OF M ANAGEMENT

33. Is the Management Science or Arts? It is this knowledge that constitutes a science. Thus, managing as practice is an art.