Fayol's principles of management
- 1. PRINCIPLES OF MANAGEMENT PRESENTED BY JAYASREE.U B.ED COMMERCE
- 2. FAYOL'S PRINCIPLES OF MANAGEMENT Began his career as an Engineer in a Mining Company. Later became the Managing Director of the company. He formulated fourteen principles of management. He has been rightly called the “Father of Modern Management.”
- 3. Division of Work. Work should be divided into small tasks. Each task should be assigned to a specific employee.
- 4. Authority and Responsibility. Authority means right to give orders to the subordinates. Responsibility means obligation to perform the work in the manner desired and directed by the authority.
- 5. Discipline Discipline is essential for the smooth running of all organisations.It means respect for authority.
- 6. Unity of Command It states that an employee should receive orders from one superior only.
- 7. Unity of Direction It states that the activities which have a common objective must be grouped together and must be under one head.
- 8. Subordination of individual interest to general interest. The business enterprises is superior to individuals. When individuals work in a group ,group interest should prevail over that of each individual.
- 9. Remuneration of Personnel. Remuneration of work done must be fair and reasonable. Employees should be honest and sincere.
- 10. CLASS 2 BY JAYASREE B.ED COMMERCE
- 11. Centralisation and Decentralisation Centralisation refers to concentration of authority at one place or one level in the organisation. Decentralisation means dispersal of authority to the lower levels in the organisation.
- 12. Scalar Chain It refers to the line of authority or the chain of superiors starting from the highest and moving towards the lowest rank.
- 13. Order It means have a place for everything and keep everything in its place. Order has two components: (i) Material order: It means having place for all materials and keeping them in their right place. (ii) Social order: It means right man is assigned for the right job.
- 14. Equity It implies being just and loyal to all concerns and superiors should be impartial while dealing with their subordinates.
- 15. Stability of tenure of the Personnel This principle states that employees should not be removed from their positions frequently.
- 16. Initiative Employees at all levels should be allowed to take initiative in work related matters.
- 17. Espirit de corps. “Union is strength” is a well accepted principle. The contribution of a team is far better than that of individuals.
- 18. PRINCIPLES OF MANAGEMENT DIVISION OF WORK AUTHORITY AND RESPONSIBILITY DISCIPLINE UNITY OF COMMAND UNITY OF DIRECTION SUBORDINATION OF INDIVIDUAL INTEREST TO GENERAL INTEREST REMUNERATION TO PERSONNAL CENTRALISATION AND DECENTRALISATION
- 19. SCALARCHAIN ORDER EQUITY STABILITY OF TENURE OF PERSONNAL INITIATIVE ESPIRIT DE CORPS