KALINGA COLLEGE OF COMMERCE

SESSION – 2019 – 2020

PROJECT REPORT ON
BUSINESS MATHEMATICS AND STATISTICS

TITTLE - MEASURES OF CENTRAL TENDENCY

SUBMITTED BY
NAME:- NIRNALI CHHATOI
CLASS :- +2 2ND YEAR
COLLEGE ROLL NO. :-
REGISTRATION NO. :-
ADMIT CARD NO. :-

GUIDED BY
NAME:-
(LECTURE IN COMMERCE)
 ABSTRACT
This paper focuses on the principles of Henry Fayol, one of the founding fathers
of management principles and education with a view towards determining the
relevance of these principles for the modern age. It finds that each principles still
has some relevance but that work need to be undertaken to account for the
existence of flat structures and decentralised companies. Management is essential
to any organisation that wishes to be efficient and achieve its aims. Without some
one in a position authority there would be organisational anarchy with no structure
and very little, if any focus. Common sense dicates that without these principles
of management being in place an organisation would have trouble achieving its
aims . KFC is representatives of American fast food who is operating in china.
Considering the principles of management , whether and how they follow 14
principles of management . How principles of management applied in KFC ? In
order to achieve the objective of this project we needed an organisation where
business is carried on a large business and various activities are performed . It is
capable of fulfilling the purpose of the project. KFC follows division of work,
authority & responsibility, subordination of individual interest to general interest,
unity of command, unity of direction, discipline, effect of centralisation and does
not follow the scalar chain. KFC should become more strongest towards the
application of these principle in its general administration because it has been
rightly said.
 ACKNOWLEDGEMENT
I would like to express my gratitude to all those who gave me the
golden opportunities to complete the project. A special thanks to my teacher Miss
Sabana Narshee whose help stimulating suggestion and encouragement , helped me
to coordinate my project especially in writing this report.
I owe my deep gratitude to my project guide to my teacher put to keep
interest in over project work and guided all along till the completion of our
project work.
I would like to acknowledges with much appreciation the crucial role of
the staff members who gave the permission to use all required accessories to
complete the project work .
I would not forget to remembers friends and my parents members for
their encouragement and more over for this timely support and guidance till the
completion of our project work.

NIRNALI CHHATOI
 DECLARATION

I do here bye declare that all the information provided in the project are
my own and the project is a result of my handwork and dedication . Their work
has not submitted before and the information provided in the project is true and
best to my knowledge and belief.

NAME- NIRNALI CHHATOI

CLASS- +2 SECOND YEAR
ROLL.NO.-33
CONTENT
 INTRODUCTION
Management is essential to any organisation that wishes to be efficient
and to achieve its aims . Without someone in a position of authority there would
be organisational anarchy with no structure and very little , if any focus . It has
been said that management has four basic functions- planning , organising , leading
and controlling . Common sense dictates that without these principles of
management being in place an organisation would have trouble achieving its aims
or even coming up with aims in first place! A classic theory on the principles of
management was written by HENRI FAYOL . It seeks to divide management into
14 principles . We’ll take a look at these basic principles of management and
explain them in easy to understand terminology . Management is the life giving
elements of every business, without it the resources of production remain resources
and shall never because production. A principle refers to a fundamental truth. It
establishes cause and effect relationship between two or more variables under
given situation. Management in business and organisations is the function that
coordinates the efforts of people to accomplish goals and objectives by using
available resources efficiently and effectively. It has developed since the time when
the world came into existence. Whenever group efforts are required to achieve
anything there is a need for management.
 OBJECTIVE
The chief purpose of this project is to see the principles of management
being implemented in real life . With its help we shall get information whether the
principles of management which come across in the books are actually true ? And
whether by following principles of management the efficiency of the managers and
workers is actually enhanced . The objective is not to get good marks but to see
that the principles are actually implemented . In order to achieve the objectives of
this project we needed an organisation where business is carried on a large scale
and various activities are performed . On the advice on the project guide KFC
restaurant was selected . The reason for choosing this organisation that is it is
capable of fulfilling the purpose of the project and it is situated nearby and vising
it would be easy. The management principles are the statements of fundamental
truth based on logic which provides guidelines for managerial decision making and
actions. These principles are derived on the basis of observation and analysis i.e.
practical experience of managers by conducting experimental studies. These days
business has assumed wider dimensions as a result of which numerous problems
arises in day to day activities and the manager has to solve these problems. A
manager needs guidelines to grapple with the problems and run the organisation
efficiently. In order to achieve the objective of this product we needed an
organisation where business is carried on a large business and various activities
are performed .

KENTUCKY FRIED CHICKEN (KFC)

 KFC is a fast food restaurant chain that specialises in fried chicken and is
headquarter in Louisville , Kentucky , in the united states . It is the world’s second
largest restaurant chain after MC. Donald’s , with 18,875 outlets in 118 countries
and territories as of December 2013. The company that also own the Pizza Hut
and Taco Bell chains.

KFC was founded by Harland Sanders , an entrepreneur who began selling

fried chicken from his roadside restaurant in Corbin , in December 2013 , there
were 361 KFC outlets in India. As well as the standard KFC offering , the chain
sells a chickpea burger , a paneer burger , hot wings with chilli lemon sprinkles
and other country specific products .
Sanders original recipe of “ll herbs and spices” is one of the most famous
trade secrets in the catering industry . The recipe is not patented , because patents
eventually expire , whereas trade secrets can remain the intellectual property of
their holders in perpetuity .
The “ finger lickin” good slogan was used from 1956 and went on to
become one of the best known slogan of the 20th century . In 2011 , the “finger
lickin” good slogan was dropped in favour of “so good” to be rolled out world
wide.
 PRINCIPLES OF MANAGEMENT

HENRI FAYOL
(1841-1925)
Henri Fayol (Istanbul ,29 July 1841 – Paris, 19 November 1925) was a French mining
engineer and director of mines who developed a general theory of business
administration that is often called Fayolism . He and his collagenous developed this
theory of scientific management . In 1916 , two years before he stepped down as
director , he published his “14 Principles Of Management” in the book
“Administration Industrielle et General” . Fayol also created a list of the six
primary functions of management , which go hand in hand with the principles .
Fayol’s principles are listed bellow :
1. Division of work
2. Authority
3. Discipline
4. Unity of command
5. Unity of direction
6. Subordination of individual interest to general interest
7. Remuneration
8. Centralisation
9. Scalar chain 12. Stability of tenure
personnel
10. Order 13.Initiativ
11. Equity 14. ESpirit De Crops
PRINCIPLES OF MANAGEMENT FOLLOWED
BY KFC
1.DIVISION OF WORK
According to this principle , in the KFC it indicate that the company has divided
the total work into many parts . All the employees perform a particular job
repeatedly . Therefore it can be said that the principle of work is actually being
followed meticulously.

2.AUTHORITY AND RESPONSIBILITY

According to this principle , in this restaurant the employees have got the authority
as well as the responsibility regarding work entrusted upon them . So this principle
is implemented in this company.

3. DISCIPLINE
During the course of personal observation regarding the principle of Discipline , the
employees are not fulfilling their commitment with the company to work honestly
for it. Therefore , it can be said that this principle of management is violated in
the company.

4. UNITY OF COMMAND:
In the restaurant, the unity of command was not being implemented in the
organisation because the company has more than one boss. It clearly states that
unity of command is not being implemented in the organisation.

5. UNITY OF DIRECTION:
The company has mainly three units . Therefore , it is clear that each is headed by
a different individual and he is planning and regulating the activities of his own
way. This situation tells us that the principle of Unity of Direction is being
implemented in the company.

6. SUBORDINATION OF INDIVIDUAL INTEREST TO GENERAL

INTEREST:
The individual employees of the company gave the priority to general interest of
the organisation over the individual interest .

7. REMUNERATION TO EMPLOYEES:
The employees of the company are not happy about the remuneration policy of
the company. Therefore , it can undoubtedly be said that the company lacks behind
in observing this principle of management.

8. CENTRALISATION OF AUTHORITY:
 The company does not adopt a complete centralisation or a complete
decentralisation. Instead it can be said that the company follows the principle of
centralisation in an effective way.

9. SCALAR CHAIN:
In the restaurant, chain made by the higher officials of the company cannot be
broken. Therefore, scalar chain is implemented in the company.

10. ORDER:
Regarding the principle of “order”, all the employees work only on the
predetermined place of duty. Therefore, it can be said that decide work and then
doing work is best and principle of order is being observed in the company.

11. EQUITY:
According to this principle, it says that there should be equal treatment to all the
employees. Partiality or favouritism leads to demoralisation of employees. It can be
said that the company is conscious about observing this principle of management .

12. STABILITY OF PERSONNEL:

The labour turnover in the company is on the higher side . In other words , the
employees do not continue to be in the service of the company for a longer
period. This situation reflects poor management in the company . Therefore, the
company has to take care of the stability of the personnel in its own interest.

13. INITIATIVE:
According to this principle , employees in the organisation must be given an
opportunity in making and executing plans. It shows that the employees felt that
their opinions were given importance. This helps in encouraging initiative and
confidence among employees.

14. ESPIRIT DE CORPS:

Meaning: The managers in the company are the victims of some sort of
superiority complex. That is the reason why I instead of the WE. The presence of
such a situation the question of cooperation on the part of the employees. Thus,
this principle of management is violated in the company.
 METHODOLOGY
It is the systematic thetical analysis of the method applied to a field of study. It
comprises the theoretical analyses of the methods and principles associated with a
branch of knowledge. A methodology does not set out to provide solutions. It is
therefore not the same as a method. In the KFC restaurant, it can be said that the
principle of work is actually being followed meticulously. The principle of
management is violated in the company. It clearly states that unity of command is
not being implemented in the organisation. This helps in encouraging initiative and
confidence among employees. It can be said that the company follows the principle
of centralisation in an effective way. The chief purpose of this project is to see
the principles of management being implemented in real life
 SWOT ANALYSIS
SWOT is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities,
and threats to a project. It involves specifying the objective of the project and identifying the
internal and external factors that are favourable and unfavourable to achieving that objective.
The strengths and weaknesses usually arise from within an organisation, and the
opportunities and threats from external sources.

STRENGTH
Excellent brand name and vivibility.
Quality, service and taste.
Original 11herbs and spices recipe.
Strong trademarks recipe.
Strong position in emergimg china.

WEAKNESS
Untrustworthy suppliers.
Negative publicity
Unhealthy food menue.
High employee turnover.
Lack of strong marketing efforts.

OPPORTUNITIES
Increasing demand for healthier food.
Home meal delivery.
Venture into newer markets.
Introduce home delivery.
Introduce better vegetarian products.

Threat
Saturated fast food markets in the developed economics.
Threats from other eating joints/restaurants.
Local fast food restaurant chains.
 CONCLUSION
In such a short span of time, four seasons is emerged as one of the best restaurant of
KFC. My visit to four seasons was very enriching and enjoyable too. By the following
the principles of management effective and effective, the firm is running towards
success. We observed optimum utilisation of resources and effective administration.
Unity of command ensures clarity in the minds of employees. Unity of direction
unifies the efforts of the employees in a common direction. Scalar chain makes the
communication in the organisation smooth. There is order, equity and discipline in the
organisation. The work is done smoothing by specialised persons through proper
distribution of work unity and harmony prevails in the organisation. Everyone is
working, keeping aside their individual interest to take the organisation to new
heights.

REFERENCES
https://www.priyafoods.com/India/pickles.htm
http://mothersrecipe.com/ruchi_pickles.html
www.scribed.com
www.shareslide.in
www.wikipedia.com
www.campaignindia.in
www.mtrfoods.com/products/pickles
http://www.anjalifoods.in
http://www.organicfacts.net
https://www.kfc.in