Principles and Functions of Management

A vast number of employees every year leave their jobs because of the following reasons: poor coaching and feedback, work-life imbalance, poor carrier opportunities prospects, lack of confidence in senior management, etc. However, for some reason, managers fail to acknowledge these factors; instead they prefer to concentrate on wage as a prime motivator. In reality a variety of factors come into play and contingency, chaos, systems, and other management theories have to be adjusted in every specific situation considering external factors. …