27-08-2017, 10:58 AM
Please tell me the the applicability of 14 principles of management in Tanishq store in 4-5 lines
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henry fayol project on tanishq jewellers
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Please tell me the the applicability of 14 principles of management in Tanishq store in 4-5 lines
28-08-2017, 10:55 AM
14 principles of management are statements that are based on a fundamental truth. These management principles serve as a guide for decision-making and management actions. They are elaborated through observations and analysis of events that managers find in practice. Henri Fayol was able to synthesize 14 management principles after years of study, namely:
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. Control unit
Employees must have only one direct supervisor.
5. Management Unit
Teams with the same objective must work 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. Scalar Chain
Employees should be aware of where they are in the hierarchy of the organization, or chain of command.
10. Order
Workplace facilities should be clean, tidy, and safe for employees. Everything must have its place.
11. Equity
Managers must be fair to staff at all times, maintaining discipline as necessary 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.
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