Daffodil International University

Faculties and Departments => Business & Entrepreneurship => Topic started by: Md. Alamgir Hossan on March 25, 2017, 10:57:55 AM

Title: Principles of management
Post by: Md. Alamgir Hossan on March 25, 2017, 10:57:55 AM
1.   Division of labor - Fayol presented work specialization as the best way to use the human resources of the organization.
2.   Authority - Managers must be able to give orders. Authority gives them this right. Note that responsibility arises wherever authority is exercised.
3.   Discipline - Employees must obey and respect the rules that govern the organization. Good discipline is the result of effective leadership.
4.   Unity of command - Every employee should receive orders from only one superior.
5.   Unity of direction - Each group of organizational activities that have the same objective should be directed by one manager using one plan for achievement of one common goal.
6.   Subordination - The interests of any one employee or group of employees should not take precedence over the interests of the organization as a whole.
7.   Remuneration - Workers must be paid a fair wage for their services.
8.   Centralization - Centralization refers to the degree to which subordinates are involved in decision making.
9.   Scalar chain - The line of authority from top management to the lowest ranks represents the scalar chain. Communications should follow this chain.
10.   Order - this principle is concerned with systematic arrangement of men, machine, material etc. there should be a specific place for every employee in an organization
11.   Equity - Managers should be kind and fair to their subordinates.
12.   Stability of tenure of personnel - High employee turnover is inefficient. Management should provide orderly personnel planning and ensure that replacements are available to fill vacancies.
13.   Initiative - Employees who are allowed to originate and carry out plans will exert high levels of effort.
14.   Esprit de corps - Promoting team spirit will build harmony and unity within the organization.