PRINCIPLES OF

MANAGEMENT
Akanksha
Anusha
HENRY FAYOL
PRINCIPLES OF MANAGEMENT
Division of labour specialization
Authority and responsibility
Discipline
Unity of command
Unity of direction
Subordination of individual interest
Fair remuneration
Centralization
Scalar chain
Order
Equity
Stability of sense
Initiative
Espirit-de-corps
DIVISION OF LABOUR SPECIALISATION
Division of labour leads to specialization which
increases the efficiency of individual employee.
AUTHORITY AND RESPONSIBILITY
Authority and responsibility should go side by side. If
a person is given authority he must be given
corresponding responsibility.
DISCIPLINE
Discipline means obedience, respect of authority and
observance of essential rules and regulations.
Discipline is essential for the smooth running of the
business.
UNITY OF COMMAND
This principle states that one person should receive
orders from only one boss to avoid confusion and
conflict.
UNITY OF DIRECTION
Unity of direction is essential for achieving unity in
action, in the pursuit of common goals by a group of
persons.
SUBORDINATION OF INDIVIDUAL
INTEREST
To general interest, in case the need arises an
individual must sacrifice his interest in favour of larger
group activities
FAIR REMUNERATION
Remuneration personnel should be fair and
satisfactory to both employees and employer.
Centralization
Centralization means concentration of the authority
in the hands of few people that is top level
management
SCALAR CHAIN
Scalar chain is the chain of superiors ranging from
ultimate authority to the lowest ranks. The hierarchic
channel called the scalar chain is necessary
ORDER
The principle of order implies right man at right job
and right material in the right place.There must be
material order and social order.
EQUITY
The principle of equity implies a sense of fairness
justice to all.The principle of equity alone makes
personnel loyal and devoted to the organization.
STABILITY OF SENSE
An employee needs time to adjust with new work and
its environment and demonstrate efficiency and higher
performance.
so stability of tenure is a
desirable principle for
ensuring efficiency.
INITIATIVE
It is the freedom to propose and execute a plan. A
manager who gives such freedom of initiative is more
successful.
ESPIRIT-DE-CORPS
It is a french phrase which means “unity in strength”.It
means spirit of loyality and devotion to the group to
which one belongs.
CONCLUSION
These fourteen principles of management is
applicable to both technical and managerial activities.
This principles of management are universally
applicable.
These principles are flexible and not absolute.