NAMASATHE, MAY I WANT TO KNOW WHETHER THE FAYOL [PRINICIPLE FOLLOWED IN ITC

fayol principle of management followed by itc

In this lesson, we will review Henri Fayol's 14 Management Principles. We will also go into more detail about one of these principles - the Scalar Chain - and when you should use the Gang Plank in the workplace.
Fayol's 14 Principles of Management
Henri Fayol (1841-1925) worked for many years as a manager of a mining company in France. He developed his own ideas about managing while serving as the chief executive officer (CEO). He believed that all supervisors of a company, from line supervisors to the president, should receive managerial training.

Fayol developed a list of principles of management to help him become a better manager. He believed that there were more than 14 of them, but chose to focus on those he found to be the most useful in his own career. The 14 principles that Fayol concentrated on were:

Division of work
Authority & responsibility
Discipline
Principle of one boss
Unity of direction
Subordination of individual interests to the general interest
Fair remuneration
Centralization & de-centralization
Scalar chain
Order
Equity
Stability of tenure of personnel
Initiative
Esprit de corps (building harmony and unity)

Fayol's principles are listed below:
Division of Work – When employees are specialized, output can increase because they become increasingly skilled and efficient.
Authority – Managers must have the authority to give orders, but they must also keep in mind that with authority comes responsibility.
Discipline – Discipline must be upheld in organizations, but methods for doing so can vary.
Unity of Command – Employees should have only one direct supervisor.
Unity of Direction – Teams with the same objective should be working under the direction of one manager, using one plan. This will ensure that action is properly coordinated.
Subordination of Individual Interests to the General Interest – The interests of one employee should not be allowed to become more important than those of the group. This includes managers.
Remuneration – Employee satisfaction depends on fair remuneration for everyone. This includes financial and non-financial compensation.
Centralization – This principle refers to how close employees are to the decision-making process. It is important to aim for an appropriate balance.
Scalar Chain – Employees should be aware of where they stand in the organization's hierarchy, or chain of command.
Order – The workplace facilities must be clean, tidy and safe for employees. Everything should have its place.
Equity – Managers should be fair to staff at all times, both maintaining discipline as necessary and acting with kindness where appropriate.
Stability of Tenure of Personnel – Managers should strive to minimize employee turnover. Personnel planning should be a priority.
Initiative – Employees should be given the necessary level of freedom to create and carry out plans.
Esprit de Corps – Organizations should strive to promote team spirit and unity.