Principles Of Management | Management Principles And Applications |

2. Principles of management are the universal ruleswhich enable managers to decide what should be done to accomplish given tasks and to run organization efficiently.

3. Sir Henry Fayol French Mining Engineer and Economist The principles of management were given by Henry Fayol. His management theory is a simple model of how management interacts with human resources.

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5. 14 Principles of Management

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7. Division of Work

8. Division of Work Assign each employee a task in which they could excel. Employees' productivity improves as they become more skilled, and confident.

9. Division of Work Software Developer If you want to develop software solution, then assigning the whole product task to one developer will be totally unfavorable.

10. Division of Work Software Developer Team Hence, organizations should delegate the entire project to the whole developer team rather than a single expert.

11. Authority and Responsibility 2

12. Authority and Responsibility 2 Managers must have the authority to issue commands and understand that with authority thereby comes responsibility.

13. Authority and Responsibility 2 Authority Responsibility Responsibility and authority go hand in hand. Authority denotes the right to issue commands, whereas responsibility denotes accountability for the obligations delegated to the person.

14. Discipline 3

15. Discipline 3 Every employee is required to respect the organizational norms and the terms of the employment agreement. Managers must also verify that everyone follows the rules.

16. Unity of Command 4

17. Unity of Command 4 According to Fayol, "an employee should only receive commands from one supervisor." Authority, discipline, order, and stability are jeopardized otherwise.

18. Unity of Direction 5

19. Unity of Direction 5 Teams with the same goal should work under the guidance of a single manager and with a single strategy.

20. Unity of Direction 5 Manufacturing Company Bike Production Car Production The concept of unity of direction implies that there should be only one management in charge of all activities with the same goal.

21. Subordination of Individual Interest to General Interest 6

22. Subordination of Individual Interest to General Interest 6 The interests of the organization should take precedence over the interests of individual employees and every employee must pursue the team’s interest over his own.

23. Remuneration 7

24. Remuneration 7 Fayol believes that employees should be fairly compensated so that both employees and owners are satisfied. And it is the manager's responsibility to guarantee that employees are compensated appropriately for their efforts.

25. Remuneration 7 Assume that the sales are rising steadily and that the company is making a profit. In such case, the employees' pay should be increased even without their asking.

26. Remuneration 7 Assume that the sales are rising steadily and that the company is making a profit. In such case, the employees' pay should be increased even without their asking.

27. Centralization & Decentralization 8

28. Centralization & Decentralization 8 Centralization is when the leadership team preserves authority. Decentralization occurs when authority is delegated at all levels. i.e., Subordinates can take decisions.

29. Centralization & Decentralization 8 Executive level decisions Operational Policies It is advantageous to have more centralization in a small business unit and more decentralization in a large scale business unit.

30. Scalar Chain 9

31. Scalar Chain 9 Employees should be aware of their position in the organization's hierarchy and who to contact within a chain of command.

32. Scalar Chain 9 Popular companies like Samsung and others have the scalar chain set to a dot.

33. Scalar Chain 9 Local Manager Regional Manager Customer Service Operative Popular companies like Samsung and others have the scalar chain set to a dot.

34. Order 10

35. Order 10 According to Fayol, every firm should have two orders: one for physical resources and one for human resources.

36. Equity 11

37. Equity 11 This principle suggests that managers should treat their employees fairly and with kindness for them to acquire a sense of dedication and attachment to their work.

38. Stability of Personnel 12

39. Stability of Personnel 12 According to Henri Fayol, if an organization's personnel are steady, it has a better chance of growing faster. If the organization has a high attrition rate, a lot of time will be wasted on training and development.

40. Initiative 13

41. Initiative 13 It is the manager's responsibility to encourage his employees to take initiative in accomplishing work or making decisions, but only within the bounds of authority and discipline.

42. Initiative 13 Google Apple Facebook Google, Apple, and Facebook are just a few of the organizations that have successfully incorporated this approach as one of the 14 management principles.

43. Esprit de Corps 14

44. Esprit de Corps 14 A feeling of pride and mutual allegiance shared by members of a group is known as esprit de corps. That is precisely what you must strive towards if you want to achieve success.