Q.What are the principles of Management ?
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Start your 14-day free trial to unlock the full solution →Principles of management are flexible, general guidelines for managerial behaviour. Henri Fayol gave fourteen principles that are the standard answer for this TS Intermediate 2nd-year Commerce 10-mark question; explain each briefly.
Meaning
Principles of management are broad and general statements that guide managerial decision-making and action. They are flexible, apply universally to all organisations, and are derived from observation and experience. Henri Fayol, a French industrialist known as the Father of Modern Management, formulated the following fourteen principles.
Fayol's 14 Principles of Management
- Division of Work — splitting work into specialised tasks raises efficiency.
- Authority and Responsibility — authority (right to give orders) must match responsibility (obligation to perform).
- Discipline — obedience to rules and agreements is essential.
- Unity of Command — each employee should receive orders from only one superior.
- Unity of Direction — one head and one plan for a group of activities with the same objective.
- Subordination of Individual Interest to General Interest — organisational interest comes before personal interest.
- Remuneration of Employees — fair and satisfactory pay to both workers and management.
- Centralisation and Decentralisation — a balance between concentration and dispersal of authority.
- Scalar Chain — a clear line of authority from top to bottom (with a 'gang plank' for faster communication).
- Order — a place for everything (material order) and everyone (social order) in its place.
- Equity — kindness and fairness in dealing with employees.
- Stability of Tenure of Personnel — minimising labour turnover gives stability.
- Initiative — encouraging employees to think and act on their own. …
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