14 principal of henry feol
This study material covers all 14 Principles of Management given by Henry Fayol in simple and easy English. Each principle includes a short and clear explanation, making it useful for B.Com students, exam preparation and quick revision.
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14 Principles of Management by Henry Fayol
1. Division of Work: Dividing work among employees to improve efficiency and specialization.
2. Authority and Responsibility: Managers must have authority to give orders and responsibility for their work.
3. Discipline: Employees should follow rules, regulations and maintain discipline.
4. Unity of Command: Every employee should receive orders from only one superior.
5. Unity of Direction: All activities with the same objective should follow one plan.
6. Subordination of Individual Interest: Company interests should come before personal interests.
7. Remuneration: Employees should receive fair wages for their work.
8. Centralization: Management should maintain a proper balance of authority between top-level and lower-level employees.
9. Scalar Chain: There should be a clear line of authority from top management to lower levels.
10. Order: Everything and everyone should be in the right place.
11. Equity: Managers should treat all employees fairly and kindly.
12. Stability of Tenure: Employees should get job security and enough time to perform well.
13. Initiative: Employees should be encouraged to share ideas and take initiative.
14. Esprit de Corps: Management should promote teamwork, unity and team spirit.
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