Saturday, December 29, 2012

The 14 Management Principles from Henri Fayol (1841-1925) : Worth knowing for MBAs

From the link:

The 14 Management Principles from Henri Fayol (1841-1925):
  1. Division of Work.
  2. Authority.
  3. Discipline.
  4. Unity of Command.
  5. Unity of Direction.
  6. Subordination of individual interest (to the general interest).
  7. Remuneration.
  8. Centralization
  9. Scalar chain (Line of Authority)
  10. Order. Both material order and social order are necessary.
  11. Equity. In running a business a ‘combination of kindliness and justice’ is needed.
  12. Stability of Tenure of Personnel. Employees work better if job security and career progress are assured to them.
  13. Initiative.
  14. Esprit de Corps. Management must foster the morale of its employees.

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