14 principles - There are 14 Principles of Management...

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A principle refers to a fundamental truth. It establishes cause and effect relationship between two or more variables under given situation. They serve as a guide to thought & actions. Therefore, management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. These principles are derived: - On the basis of observation and analysis i.e. practical experience of managers. By conducting experimental studies.
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Unformatted text preview: There are 14 Principles of Management described by Henri Fayol. 1. Party of Authority & Responsibility 2. Division of labor 3. Principle of One Boss 4. Unity of Direction 5. Equity 6. Order 7. Discipline 8. Initiative 9. Fair Remuneration 10. Stability of Tenure 11. Scalar Chain 12. Sub-Ordination of Individual Interest to General Interest 13. Espirit De’ Corps (can be achieved through unity of command) 14. Centralization & De-Centralization...
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This note was uploaded on 11/25/2011 for the course MANAGEMENT mg101 taught by Professor - during the Fall '09 term at Montgomery.

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14 principles - There are 14 Principles of Management...

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