PRINCIPLES OF MANAGEMENT

PRINCIPLES OF MANAGEMENT

According to him managerial excellence is a technically ability and can be acquired.

He was pioneer of the formal education in management. Fayol's principles of management meet the requirements of modern management.

Henry Fayol, a frech industrialist, offered fourteen principles of management for the first time in 1916.

Division of Work

Division of work means specialization. According to this principle, a person is not capable of doing all types of work. Each job and work should be assigned to the specialist of his job.

Authority and Responsibility

In this way, if anybody is made responsible for any job, he should also have the concerned authority.In other awards when the authority is exercised the responsibility. In other awards when the authority is exercised the responsibility is automatically generated.

Discipline

Discipline in terms of obedience, application, energy and respect to superior. However, Fayol does not advocate warming, fines, suspension and dismissals of worker for maintaining discipline.

Unity of Command

In this way, the principle of unity of command provides the enterprise disciplined, stable and orderly existence

Unity of direction
In this way the principle of direction create dedication to purpose and loyalty. It emphasizes the attainment of common goal under one head.

Subordination of individual interests to general interests

In other words, principle of management state that employees should surrender their personnel interest before the general interest of the enterprise

Fair Remuneration to employees

Logical and appropriate wage-rate and methods of their payment reduces tension and differences between workers and management, create harmonious relationship and a pleasing atmosphere of work

Centralization and Decentralization

According to Fayol there should be centralization in small units and proper decentralization in big organisation.

Scalar chain

The flow of information between management and workers is a must. Business opportunities must be immediately avoided of. so we must make direct contact with the concerned employee. Business problems need immediate solution, so we cannot always depend on the established scalar chain

Order

In other words, principles that every piece of land and every article should be used properly, economically and in the best possible way

Equity

In other words, kindness and justice should be exercised by management in dealing with their subordinates

Stability of use of personnel
Stability of job creates a sense of belongingness among workers who with this feeling are encouraged to improve the quality and quantity of work.

Initiative
It will be more useful, if initiative to do so is provided to employees. In simple, to ensure success, plans should be well formulated before they are implemented.

Spirit of Co-operation (Spirit de crops)

Production is a team work for which the whole-hearted support and co-operation of the members at all levels is required.