The document discusses management principles as statements that provide guidelines for managerial decision making. It describes Henri Fayol's identification and development of 14 principles of management in the early 20th century based on his experience in the mining industry. The principles include division of work, authority and responsibility, unity of command, unity of direction, subordination of individual interests, remuneration of personnel, centralization and decentralization, scalar chain, order, equity, stability of tenure, initiative, and esprit de corps.

2. “A PRINCIPLE REFERS TO A STATEMENT WHICH
REFLECTS THE FUNDAMENTAL TRUTH ABOUT
SOME PHENOMENON”

3. “MANAGEMENT PRINCIPLES ARE STATEMENTS
OF FUNDAMENTAL TRUTHS THAT PROVIDE
GUIDELINES FOR MANGERIAL DECISION MAKING
AND ACTION”

4. EMPIRICAL IN
NATURE
UNIVERSALITY
OF APPLICATION
AIMED AT
INFLUENCING
HUMAN BEHAVIOUR
RELATIVITY FLEXIBLE
CAUSE –EFFECT
RELATIONHIP

5. RESEARCH AND DEVELOPMENT
SOCIAL OBLIGATION
CHANGE IN TECHNOLOGY
SCIENTIFIC DECISIONS
OPTIMUM UTILISATION OF RESOURCES
HELPS IN SETTING OBJECTIVES

6. * ENGINEER IN FRENCH MINING COMPANY
1860
* 1898-APPOINTED AS CHIEF EXECUTIVE
OFFICER
* 1916-GENERAL & INDUSTRIAL
MANAGEMENT

7.  CLASSIFIED ALL BUSINESS ACTIVITIES IN TO
TWO –TECHNICAL AND MANGERIAL
 IDENTIFIED FUNCTIONS CONSTITUTING THE
MANAGEMENT PROCESS
 DEVELOPED 14 PRINCIPLES OF MANAGEMENT

8.  COMPLEX WORK SHOULD BE DIVIDED INTO
SMALL TASKS,AND EACH TASK WHOULD BE
ASSIGNED A PARTICULAR EMPLOYEE
 DIVISION OF WORK LEADS TO SPECIALISATION
 APPLICABLE TO BOTH TECHNICAL &
MANAGERIAL ACTIVITIES

9.  AUTHORITY IS THE RIGHT TO GIVE ORDERS
TO THE SUBORDINATES
 RESPONSIBILITY MEANS OBLIGATION TO
PERFORM THE WORK IN THE MANNER
DESIRED BY AUTHORITY
 PRINCIPLE STATES THAT AUTHORITY
&RESPONSIBILITY SHOULD CO-EXIST

10.  DISCIPLINE MEANS OBEDIENCE, RESPECT FOR
AUTHORITY AND OBSERVATION OF ESTABLISHED
RULES
 PRINCIPLE STATES THAT GOOD SUPERVISION,
CLEAR RULES AND BUILT-IN –SYSTEM OF REWARD &
PUNISHMENT HELPS TO MAINTAIN DISCIPLINE

11.  EACH EMPLOYEE SHOULD RECEIVE ORDERS
FROM ONE SUPERIOR ONLY
 IN THE ABSENCE OF UNITY OF COMMAND
RESPONSIBILITY CAN NOT BE FIXED

12.  THE ACTIVITIES WHICH HAVE A COMMON
OBJECTIVE MUST BE GROUPED TOGETHER
AND MUST BE UNDER ONE HEAD
 ALL OPERATIONS WITH THE SAME OBJECTIVE
MUST HAVE ONE MANGER AND ONE PLAN

13.  GENERAL INTEREST OF THE CONCERN IS
MORE IMPORTANT THAN SELF INTEREST
 BUSINESS ENTERPRISE IS SUPERIOR TO
INDIVIDUALS

14.  REMUNERATION OF EMPLOYEES SHOULD
ALWAYS BE FAIR AND REASONABLE
 IT SHOULD AFFORD MAXIMUM SATISFACTION
TO BOTH EMPLOYEES AND THE EMPLOYER

15.  CENTRALISATION REFERS TO CONCENTRATION
OF AUTHORITY AT ONE PLACE OR ONE LEVEL IN
THE ORGANISATION
 DECENTRALISATION REFERS TO DISPERSAL OF
AUTHORITY TO THE LOWER LEVELS IN THE
ORGANISATION
 ORGANISATION SHOULD STRIVE TO ACHIEVE A
BALANCE BETWEEN CENTRALISATION &
DECENTRALISATION

16.  THE CHAIN OF SUPERIORS STARTING FROM
THE HIGHEST AND MOVING TOWARDS THE
LOWEST RANK
 DRAW BACKS
 TIME CONSUMING
 DISTORTION OF MESSAGE
 GANG PLANK
THE PROCESS OF SHORT CIRCUITING THE
CHAIN OF COMMAND WHERE EMERGENCY
DECISIONS ARE TO BE MADE

17.  RIGHT MAN IN THE RIGHT JOB AND THE
RIGHT MATERIAL IN THE RIGHT PLACE.
MATERIAL ORDER
 A RIGHT PLACE FOR EVERYTHING &
EVERYTHING IN THE RIGHT PLACE
SOCIAL ORDER
 A PLACE FOR EVERY ONE & EVERY ONE IN THE
ALLOTED PLACE

18.  EQUITY IMPLIES BEING JUST AND LOYAL TO
ALL CONCERNS
 A FAIR AND JUST TREATMENT IS ASSURED TO
PEOPLE IN SIMILAR POSITIONS.

19.  MANAGERS AND WORKERS SHOULD NOT BE
SHIFTED FROM THEIR POSITIONS FREQUENTLY
 A PERSON NEEDS TIME TO ADJUST HIMSELF
TO NEW WORK ENVIORONMENT

20.  INITIATIVE IMPLIES THE CREATIVITY IN AN
INDIVIDUAL
 THE POWER TO THINK,DEVELOP AND
EXECUTE A PLAN IS COLLECTIVELY REFERRED
TO AS INITIATIVE

21.  THE SPIRIT OF LOYALTY AND DEVOTION TO THE
GROUP TO WHICH ONE BELONGS
 THERE SHOULD BE CO-OPERATION AND TEAM
SPIRIT AMONG THE MEMBERS OF AN
ORGANISATION

22. REMUNERATION OF
PERSONNEL
UNITY OF COMMAND
DIVISION OF WORK
EQUITY
STABILITY OF TENURE
OF PERSONNEL
AUTHORITY &
RESPONSIBILITY
UNITY OF
DIRECTION
CENTRALISATION &
DECNTRALISATION
ESPIRIT DE CORPS
DISCIPLINE
SUBORDINATION OF
INDIVIDUAL INTEREST TO
GENERAL INTEREST
SCALAR CHAIN
ORDER
INITIATIVE