Who was Henri Fayol ?
Father of the general principle of management, Henry Fayol was a French industrialist. He joined a French mining company in 1860 as an engineer and rose to the position of its managing director in 1888. At that time, his company was at the stage of bank insolvency. With broad administrative experience, ‘Fayol’ contributed a lot to his company. When he retired in the year 1918, the company was in excellent condition. Henri Fayol recognized the need for Principles of Management. He identified 14 Principles of Management.
14 Principles of Management by Henri Fayol
Principles of Management are like a guidebook for leaders to run a company well. They help managers make plans, organize tasks, and motivate teams, and, they serve as frameworks for managers to deal with the difficulties of leading people and achieving goals within an organization.
Principles of Management cover a diverse range of concepts and practices that aim to optimize resources, encourage innovations, and improve performance. They provide managers with a systematic approach to decision-making, problem-solving, and achieving results in a dynamic business environment.
Table of Content
- What are the Principles of Management?
- Who was Henri Fayol ?
- Principles of Management by Henri Fayol
- 1. Division of Work
- 2. Authority and Responsibility
- 3. Discipline
- 4. Unity of Command
- 5. Unity of Direction
- 6. Subordination of Individual Interest to General Interest
- 7. Remuneration of Employees
- 8. Centralization and Decentralization
- 9. Scalar Chain
- 10. Order
- 11. Equity
- 12. Stability of Personnel
- 13. Initiative
- 14. Esprit De Corps
- Difference between Principles of Management and Techniques of Management
- Henry Fayol’s Principle of Management – FAQs
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