1. FOURTEEN PRINCIPLESOFMANAGEMENTBYHENRI FAYOL

2. HENRI FAYOL(29 July 1841 19 Nov 1825)He was a French mining engineerConsidered as the father of modern concept of management

3. Henri Fayol, a French industrialist, is now recognized as theFather of Modern Management. According to Henri Fayol, allmanagers must follow these 14 principles.

4. 1. DIVISION OF WORK Divide work in to specialized tasks and assignedresponsibilities to specific individuals. Division of work leads to specialization, and specializationincreases efficiency, and efficiency improves the productivity andprofitability of the organization.

5. 2. AUTHORITY &RESPONSIBILITY Delegate authority along with responsibility. There should be a balance between Authority (Power)and Responsibility (Duties)

6. 3. DISCIPLINE Maintain good discipline in order to make expectationclear and punish violators. If there is no self-discipline, then discipline should beenforced through penalties, fines, etc.

7. 4. UNITY OF COMMAND Each employee has one and only one Boss / Commander. In other words, a subordinate must report to only onesuperior."Too many cooks spoil the soup."

8. 5. UNITY OF DIRECTION All activities which have the same objective must bedirected by one manager, and he must use one plan. Direction also means leading.

9. 6. SUBBORDINATION OF INDIVIDUALINTERESTS TO GENERAL INTEREST When at work only the matters related to the job or dutiesshould be focused, pursued and thought. The individual interest should be given lessimportance, while the general interest should be given mostimportance.

10. 7. REMUNERATION Payments of salaries and incentive for workers inappreciation of their service. This policy should give maximum satisfaction to bothemployer and employees.

11. 8. CENTRALIZATION Decisions are made from the top.

12. 9. SCALAR CHAIN Scalar chain refers to the number of levels in thehierarchy from the ultimate authority to the lowest level in theorganization. Having a formal chain of command from top to bottom.

13. 10.ORDER All personnel and materials must have designated place. There should be a place for everything and everythingin its place, and the "right man in the right place

14. 11.EQUITY Equality of treatment without indiscrimination for thegender, creed or ethnicity. Equity creates loyalty and devotion in the employees.

15. 12.STABILITY Ensure the Employee loyalty and longevity.

16. 13.INITIATIVE Thinking out a plan and do what it takes to make it happen. And management should encourage initiative.IF YOU DONT TAKE A CHANCE, YOU DONT STAND A CHANCE.

17. 14.ESPIRIT DE CORPS Promote unity of interest between management andemployees.