Principles of Management - - Henry Fayol

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Henry Fayol suggested 14 principles of management as explained:

Division Of Work: Division of work means dividing the total work into small convenient components and giving each component to one employee. This brings specialisation and enables people to concentrate effectively on the assigned responsibility. This improves performance, ability and accuracy in the work.

Authority and Responsibility: Authority should be equal to responsibility. These two terms are integral aspects of the managerial process AND inter-related as responsibility is the corollary of authority. Those who have authority to give orders must be willing to accept responsibility for the results. Responsibility arises when the authority is used and hence authority and responsibility cannot be separated.

Discipline: Discipline is the obedience and outward mark of respect shown by an employee. Fayol considers that discipline is absolutely essential for smooth and orderly running of a business unit. For proper discipline, attention needs to be given to good supervision,fair agreements and judicious use of Penalty.

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