Management Principles

Description

Management principles are fundamental guidelines that inform managerial decision-making and organizational behavior. They help managers plan, organize, lead, and control resources effectively. The most widely recognized set comes from Henri Fayol, a pioneer in management theory.

Fayol’s 14 Principles of Management:

1. Division of Work – Specialization increases efficiency.

2. Authority and Responsibility – Managers must have the authority to give orders and the responsibility to ensure they are carried out.

3. Discipline – Employees must obey and respect rules.

4. Unity of Command – Each employee should receive orders from one superior only.

5. Unity of Direction – Activities with the same objective should be directed by one manager.

6. Subordination of Individual Interest – The organization’s interests come before personal interests.

7. Remuneration – Workers should be fairly compensated.

8. Centralization – The degree to which decision-making is concentrated at the top.

9. Scalar Chain – A clear hierarchy should exist.

10. Order – Resources should be in the right place at the right time.

11. Equity – Managers should treat employees with fairness and kindness.

12. Stability of Tenure – High employee turnover should be avoided.

13. Initiative – Employees should be encouraged to take initiative.

14. Esprit de Corps – Promoting team spirit improves harmony and unity.