The document discusses Henri Fayol's principles of management. Fayol began his career as an engineer in a mining company and later became the managing director. He formulated fourteen principles of management and is considered the "Father of Modern Management." The principles include division of work, authority and responsibility, discipline, unity of command, unity of direction, subordination of individual interests to general interests, remuneration of personnel, centralization and decentralization, scalar chain, order, equity, stability of tenure of personnel, initiative, and esprit de corps.

1. PRINCIPLES OF MANAGEMENT
PRESENTED BY
JAYASREE.U
B.ED COMMERCE

2. FAYOL'S PRINCIPLES OF
MANAGEMENT
Began his career as an Engineer in a Mining Company.
Later became the Managing Director of the company.
He formulated fourteen principles of management.
He has been rightly called the “Father of Modern
Management.”

3.  Division of Work.
Work should be divided into small
tasks. Each task should be assigned to
a specific employee.

4.  Authority and Responsibility.
Authority means right to give orders
to the subordinates.
Responsibility means obligation to
perform the work in the manner desired and
directed by the authority.

5.  Discipline
Discipline is essential for the
smooth running of all organisations.It
means respect for authority.

6.  Unity of Command
It states that an employee should
receive orders from one superior only.

7.  Unity of Direction
It states that the activities which
have a common objective must be grouped
together and must be under one head.

8.  Subordination of individual interest to
general interest.
The business enterprises is superior
to individuals. When individuals work in a
group ,group interest should prevail over
that of each individual.

9.  Remuneration of Personnel.
Remuneration of work done must
be fair and reasonable. Employees should
be honest and sincere.

10. CLASS 2
BY
JAYASREE
B.ED COMMERCE

11.  Centralisation and Decentralisation
Centralisation refers to concentration of
authority at one place or one level in the
organisation.
Decentralisation means dispersal of
authority to the lower levels in the
organisation.

12.  Scalar Chain
It refers to the line of authority or the
chain of superiors starting from the highest
and moving towards the lowest rank.

13.  Order
It means have a place for everything and
keep everything in its place.
Order has two components:
(i) Material order: It means having place for all
materials and keeping them in their right
place.
(ii) Social order: It means right man is assigned
for the right job.

14.  Equity
It implies being just and loyal to
all concerns and superiors should be
impartial while dealing with their
subordinates.

15.  Stability of tenure of the Personnel
This principle states that
employees should not be removed from
their positions frequently.

16.  Initiative
Employees at all levels should be
allowed to take initiative in work related
matters.

17.  Espirit de corps.
“Union is strength” is a well
accepted principle. The contribution of a
team is far better than that of individuals.

18. PRINCIPLES OF MANAGEMENT
 DIVISION OF WORK
 AUTHORITY AND RESPONSIBILITY
 DISCIPLINE
 UNITY OF COMMAND
 UNITY OF DIRECTION
 SUBORDINATION OF INDIVIDUAL INTEREST
TO GENERAL INTEREST
 REMUNERATION TO PERSONNAL
 CENTRALISATION AND DECENTRALISATION

19.  SCALARCHAIN
 ORDER
 EQUITY
 STABILITY OF TENURE OF PERSONNAL
 INITIATIVE
 ESPIRIT DE CORPS