Henry Fayol (1841 - 1925) :
French Industrialist referred as father of modern management.
Principles of Management by Henry Fayol :
1) Division of work :
Whole work must be divided and distributed amongst various individuals by considering their specialization.
2) Unity of Command :
As far as possible there must be single command from the superiors. There should be single boss.
3) Unity of direction :
There must be single direction in which workers should work.
4) Authority and responsibility :
Authority and responsibility must go hand in hand and must be balanced properly.
Authorized person must have responsibility and responsible person must have some powers to activate.
5) Discipline :
There should be discipline among the employees working in an organisation
6) Remuneration :
Methods of payment should be fair enough which can afford maximum possible satisfaction to employees as well as employer. Employees must get proper remuneration.
7) Centralisation :
There must be centralised authority in every department and that authority will make decisions which has to be followed by all employees.
8) Scalar chain :
There must be vertical chain of authorities which are put designation wise and experience wise in the department.
9) Order :
A set of instructions given by boss to his sub-ordinates that is order.
10) Sub-ordination of individual interest to general interest :
Personal interest should not exceed the department general interest.
11) Equity :
There should be same justice to all.
12) Stability of tennure :
As far as possible worker should be stable in his job otherwise he may get frustrated and loose efficiency which affects overall output of organisation badly.
13) Initiative :
Always initiative is the step of success in managerial works.
14) Espirit De Corps :
Team work.
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