principle of management of fayol applied in haldiram

Henri Fayol was born in Istanbul in 1841. At age 19 he began working as an engineer in a large mining company in France. He eventually became the director, at a time when the mining company employed more than 1,000 people.Over the years, Fayol began to develop what he considered to be the 14 most important principles of management. Essentially, they explained how managers should be organized and interacted with staff.In 1916, two years before his resignation as director, he published his "14 Principles of Management" in the book "Administration Industrielle et Générale". Fayol also created a list of the six main functions of management, which go hand in hand with the Principles. Fayol "14 Principles" was one of the earliest theories of management to be created, and remains one of the most comprehensive. It is considered to be among the most influential contributors to the modern management concept, even though people do not refer to "The 14 Principles" often today.

The 14 Principles of Management of Fayol


The principles of Fayol are listed below:

1. Division of Labor - When employees are specialized, production can increase because they become more and more skilled and efficient.
2. Authority - Managers must have the authority to give orders, but they must also keep in mind that with authority comes responsibility.
3. Discipline - Discipline must be maintained in organizations, but methods for doing so may vary.
4. Command Unit - Employees must have only one direct supervisor.
5. Management Unit - Teams with the same objective must be working under the direction of a manager, using a plan. This will ensure that the action is properly coordinated.
6. Subordination of individual interests to the general interest - The interests of an employee should not be allowed to be more important than those of the group. This includes managers.
7. Remuneration - Employee satisfaction depends on fair remuneration for all. This includes financial and non-financial compensation.
8. Centralization - This principle refers to the closeness of employees to the decision-making process. It is important to seek a proper balance.
9. Climbing Chain - Employees should be aware of where they are in the hierarchy of the organization, or chain of command.
10. Order - Workplace facilities must be clean, tidy, and safe for employees. Everything must have its place.
11. Equity - Managers must be fair to staff at all times, maintaining the necessary discipline and acting kindly when appropriate.
12. Stability of staff tenure - Managers should strive to minimize employee turnover. Personnel planning should be a priority.
13. Initiative - Employees must have the necessary level of freedom to create and carry out plans.
14. Esprit de Corps - Organizations should strive to promote team spirit and unity.