Principles of Management
Henry Fayol, a French industrialist, summarized the practice of management with fourteen principles.
1. Division of work: A high degree of specialization should result inefficiency. Both managerial and technical works are amenable to specialization.
2. Authority and responsibility: Henry Fayol finds authority and responsibility to be related, with the latter arising from the former. Authority is needed to carry out managerial responsibilities.
3. Discipline: People in the organization must respect the rules that govern the organization.
4. Unity of command: This means that, employees should receive orders from one superior and should report to one only.
5. Unity of directions: According to this principle, each group of activities with the some objective must have one head and one plan.
6. Subordination of individual to general interest: Interest of individuals should not be placed before the goals of the overall organization.
7. Remuneration: Remuneration and methods of payment should be f air and afford the maximum possible satisfaction to employees and employer.
8. Centralization: Power’ and authority should be concentrated at the upper levels of the organization as much as possible.
9. Scalar chain: A chain of authority should extend from the top to the bottom of the organization and should be followed at all times.
10. Order: Human and material resources should be coordinated so that they are in the required place at the required time.
11. Equity: Managers should be kind and fair when dealing with subordinates.
12. Stability of tenure: Finding unnecessary turnover to be both the cause and the effect of bad management. Fayol points out its dangers and cost.
13. Initiative: Subordinates should have the freedom to take initiative,
14. Unity is strength: Teamwork, team spirit and a sense of unity and togetherness should be fostered and maintained.
Source: http://www.scribd.com/doc/14658965/Leadership-and-Management-2003
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Tags: 14 principles of management, authority, Business, centralisation, discipline, division of work, Equity, Henry Fayol, initiative, Management, order, principles of management, remuneration, Responsibility, scalar chain, stability of tenure, subordination of individual interest to general interest, unity is strength, unity of command, unity of directions
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i want fayol principles followed by dominos as a project please help me tell what are the advantages nd disadvantagesof fayol principles whether followed r not.