In this topic, you will learn about, 14 PRINCIPLES OF MANAGEMENT AS REFERRED BY HENRI FAYOL.
By following these 14 principles of Henri Fayol a business organization can increase its profitability as well as efficiency.
14 PRINCIPLES OF MANAGEMENT AS REFERRED BY HENRI FAYOL:
DAS UC USSR OT SEE
- D – Division of Work. (Right person at right place at right time, movement).
- A – Authority of responsibility.
- D – Discipline.
- U – Unity of command/ chain of command.
- C – For any business organization centralization and decentralization is equally important.
- U – For any business organization there should be a unity of direction.
- S – Scalar chain.
- S – For any business organization stability of tenure. (Tenure means time).
- R – Here R represents remuneration. (Ways, salary, incentives, bonus, and rewards) it acts as a motivation for the employee.
- O – Order.
- I – initiative.
- S – subordinates (subordination of individual interest to general/interest business.
- E – Equity.
- E – Esprit De-crop (French word).
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