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Principles of Management

By: Yogin Vora on February 5, 2012 1 Comment

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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One Response to “Principles of Management”

  1. rashmi on: 31 October 2012 at 6:20 pm

    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.

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