Name: Prerana .R. Goswami Class: Sybcom Div: A Roll No: 059 Subject: Commerce Topic: Henry Fayol'S Principles
Name: Prerana .R. Goswami Class: Sybcom Div: A Roll No: 059 Subject: Commerce Topic: Henry Fayol'S Principles
GOSWAMI
CLASS: SYBCOM DIV: A ROLL NO: 059
SUBJECT: COMMERCE TOPIC: HENRY FAYOL'S PRINCIPLES
Henry Fayol, also known as the ‘father of modern management theory’ gave a new perception
of the concept of management. He introduced a general theory that can be applied to all levels
of management and every department. The Fayol theory is practised by the managers to
organize and regulate the internal activities of an organization. He concentrated on
accomplishing managerial efficiency
Division of work
Discipline
Unity of command
Unity of direction
Remuneration
Centralization
Scalar chain
Order
Equity
Stability
Initiative
Esprit de crops
Details of the 14 principles
Division of work
Discipline
Unity of command
This means an employee should have only one boss and follow his
command. If an employee has to follow more than one boss,
there begins a conflict of interest and can create confusion.
Unity of direction
Remuneration
Centralization
Order
Equity
Stability
Initiative
Functions of management?
Planning – the need "to assess the future and make provision for
it." That includes a flexible action plan that considers a firm's
resources, work in progress, and future market trends.
Bibliography
Google.com
Hsc textbook