Henry fayol 14 principles of management , full assignment - manpreet singh

HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT
by manpreet singh (student of b.com)

1. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT HENRY FAYOL BIOGRAPHY Henry Fayol , also known as the ‘ father of modern management theory ’ gave a new perception of the concept of management . He introduced a general theory that can be applied to all levels of management and every department . The Fayol theory is practiced by the managers to organize and regulate the internal activities of an organization .He concentrated on accomplishing managerial efficiency .

2. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (1.) DIVISION OF WORK : Henry believed that segregating work in the workforce amongst the worker will enchance the quality of product .Similarly , he also concluded that the division of work imp0roves the productivity ,efficiency ,accuracy and speed of the workers .This principle is appropriate for both the managerial as well as a technical work level. For e.g. ; someone working the counter collected your food and placed it in bag to hand to you out the window . Another person handed the bag out the window . Those are the different steps that were taken to fully complete one task .This is called Division of work .

3. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (2.) AUTHORITY AND RESPONSIBILITY : These are two key aspects of management . Authority facilities the management to work efficiently , and responsibility makes them responsible for the work done under their guidance or leadership . In an ideal scenario , authority and responsibility along with power and accountability are equal to each other in every position of the organization. For e.g. ; if a employee is given authority but does not have power, he can’t do his job effectively

4. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (3.) DISCIPLINE : Without discipline nothing can be accomplished . It is the core value for any project or any management . Good performance and sensible interrelation make the management job easy and comprehensive . Employees good behavior also helps them smoothly build and progress in their professional careers . For e.g. ; if the employees break their promise of working up to their full capacity, it will amount to the violation of obedience . Similarly a sales manager has the authority to do business on credit .

5. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (4.) UNITY OF COMMAND : This means an employees should have only one boss and follow his command .if an employee has to follow more than one boss , there begins a conflict of interest and can create confusion . For e.g. ; imagine you are the CEO of a technology firm in silicon valley. While the board of directors of your company governs the policy making and strategic planning ,under the concept of unity command , you do not answer to all members of the board .but only the chairman of the board .

6. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (5.) UNITY OF DIRECTION : Whoever is engaged in the same activity should have a unified goal . This means all the person working in a company should one goal and motive which will make the work the easier and achieve the set goal easily . For e.g. ; all marketing activities such as advertising , sales promotion , pricing policy , etc ., must be directed by only one manager .

7. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (6.) SUBORDINATION OF INDIVIDUAL INTERES T : T his indicates a company should work unitedly towards the interest of a company rather than personal interest . Be subordinate to the purposes of an organization . This refers to the whole chain of command in a company . Fr e.g.; suppose an employee would like to obtain a big raise of his salary , beyond what is usual for his job .doing so would not be in the general interest of the firm , as it would lose it’s competitiveness if it continues to pay too much to its employees .

8. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (7.) REMUNERATION; This plays an important role in motivating the workers of workers of a company . Remuneration can be monetary or non-monetary .however , it should be according to an individual ‘s efforts they have made . For e.g.; One common example of this is a retirement plan . Remuneration also refers to the benefits an employee receives from his or her company . These can come in the form of health insurance ,gym memberships, the use of a company mobile device or company car or others , depending on the company .

9. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (8.) CENTRALIZATION : In any company , the management or any authority responsible for the decision –making process should be neutral . However ,this depends on the size of an organization . Henry Fayol stressed on the point that there should be a balance between the hierarchy and division of power. For e.g.; The military has a centralized organization structure. This is because the higher ups order those below them and everybody must follow those orders .

10. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (9.) SCALAR CHAIN : Fayol on this principle highlights that the hierarchy steps should be from the top to the lowest. This is necessary so that every employee knows their immediate senior also they should be able to contact any , if needed. For e.g.; If A is the CEO of an organization and he has two paths of authorities under him , namely the finance of department and the sales department …..…. E is the finance junior .

11. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (10.) ORDER: A company should maintain a well –defined work order to have a favourable work culture . The positive atmosphere in the workplace will boost more positive productivity . Fayol feels that in order to motivate the employees , apart from general remuneration , they should be given some monetary and non-monetary incentives . For e.g.; Suppose that the things are getting dearer and dearer and the company is getting good profits

12. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (11.) EQUITY : All employees should be treated equally and respectfully . It’s the Responsibility of a manager that no employees face discrimination . This principle emphasizes kindliness and justice in the behaviour of managers towards workers .It will bring loyalty and devotion in the behaviour of employees and they will put their best to achieve the targets For e.g. ; Individuals performing similar jobs in kapura Ltd are paid at the same wage rate .

13. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (12.) STABILITY OF PERSONAL : An employee delivers the best if they feel secure in their job . It is the duty of the management to offer job security to their employees . For e.g. ; A labourer completes 10 units of goods in a day . Another labourer who happens to be a relatives of the supervisor completes 8 units but both get equal remuneration. This violates the principles of equality . The second labourer should get less remuneration than first one .

14. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (13.) INITIATIVE : The management should support and encourage the employees to take initiatives in an organization . It will help them to increase their interest and make then worth . For e.g.; A salesman suggests to his sales managers to implement a new advertisement technique . The sales managers sends him away by telling him that it is not possible and ignores the suggestion altogether .

15. HENRY FAYOL 14 PRINCIPLES OF MANAGEMENT (14.) ESPRIT DE CORPS : It is the responsibility of the management to motivate their employees and be supportive of each other regularly . Developing trust and mutual understanding will leads to a positive outcome and work environment . For e.g. ; A group marching to bring awareness to a current issue . A common spirit of comradeship , enthusiasm ,and devotion to a cause among the members of a group .