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20-05-2017, 10:50 AM

please tell about principles of mgmt. by henry fayol followed by lg co.

jaseela123d · 22-05-2017, 09:46 AM

The 14 Principles of Management of Fayol

The Management Principles are the underlying essential factors that are the foundation of successful management. According to Henri Fayol in his book General and Industrial Management (1916), there are fourteen "Management Principles".

1. Division of labor

According to this principle all work is divided into small tasks. The specialization of the workforce according to the abilities of a person, creating a specific personal and professional development within the workforce and therefore increasing productivity; It leads to specialization that increases the efficiency of work.

2. Authority and Responsibility

This is the question of the commands followed by responsibility for its consequences. Authority means the right of a superior to give order to his subordinates; Responsibility means performance obligation.

3. Discipline

It is obedience, proper conduct in relation to others, respect for authority, etc. It is essential for the proper functioning of all organizations.

4. Command unit

This principle states that each subordinate must receive orders and be accountable to one and only one superior. If an employee receives orders from more than one superior, it is likely to create confusion and conflict.

5. Management Unit

All related activities must be grouped in a group, there must be a plan of action for them and they must be under the control of a manager.

6. Subordination of individual interest to mutual interest

Management must set aside personal considerations and set company goals first. Therefore, the interests of the organization's objectives must prevail over the personal interests of individuals.

7. Remuneration

Workers must be paid sufficiently since this is a major motivation of employees and, therefore, greatly influences productivity. The amount and methods of remuneration must be fair, reasonable and rewarding.

8. The Degree of Centralization

The amount of power managed with the central administration depends on the size of the company. Centralization involves the concentration of decision-making authority in top management.

9. Line of Authority / Chain Scale

Refers to the chain of superiors that go from the top direction to the lowest rank. The principle suggests that there must be a clear top-down authority line that connects all managers at all levels.

10. Order

The social order guarantees the smooth operation of a company through an authorized procedure. Ordering materials ensures safety and efficiency in the workplace. The order must be acceptable and under the rules of the company.

11. Equity

Employees should be treated kindly, and justice must be enacted to ensure a fair workplace. Managers must be fair and impartial in dealing with employees, giving equal attention to all employees.

12. Stability of tenure of staff

Stability of tenure of staff is a principle that for an organization to function smoothly, staff (especially managers) should not enter and leave the organization frequently.

13. Initiative

Using the employee initiative can add strength and new ideas to an organization. The initiative by employees is a source of strength for the organization because it provides new and better ideas. Employees are likely to have more interest in running the organization.

14. Esprit de Corps / Team Spirit

This refers to the need for managers to ensure and develop morale in the workplace; Individually and communally. Team spirit helps develop an atmosphere of mutual trust and understanding. Team spirit helps finish the task on time.

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