abstact of principles of management
Answers
Abstract:
This paper focuses on the principles of Henry Fayol, one of the founding fathers of managementprinciples and education with a view towards determining the relevance of these principles for themodern age. It finds that each of the principles still has some relevance but that work would need tobe undertaken to account for the existence of flat management structures and decentralisedcompanies. There are a few other changes that need to be made to bring Fayol's principles in to the21stcentury but these are largely small modifications. These alterations reflect changes in themotivation of staff.
Explanation:
HENRY FAYOL’S 14 PRINCIPLES OF MANAGEMENT1. Division of Work – When employees are specialized, output can increase because they become increasingly skilled and efficient.2. Authority – Managers must have the authority to give orders, but they must also keep in mind that with authority comes responsibility.3. Discipline – Discipline must be upheld in organizations, but methods for doing so can vary.4. Unity of Command – Employees should have only one direct supervisor.5. Unity of Direction – Teams with the same objective should be working under the direction of one manager, using one plan. This will ensure that action is properly coordinated.6. Subordination of Individual Interests to the General Interest – The interests of one employee should not be allowed to become more important than those of the group. This includes managers.7. Remuneration – Employee satisfaction depends on fair remuneration for everyone. This includes financial and non-financial compensation.8. Centralization – This principle refers to how close employees are to the decision-making process. It is important to aim for an appropriate balance.9. Scalar Chain – Employees should be aware of where they stand in the organization's hierarchy, or chain of command.10. Order – The workplace facilities must be clean, tidy and safe for employees. Everything should have its place.11. Equity – Managers should be fair to staff at all times, both maintaining discipline as necessary and acting with kindness where appropriate.12. Stability of Tenure of Personnel – Managers should strive to minimize employee turnover. Personnel planning should be a priority.13. Initiative – Employees should be given the necessary level of freedom to create and carry out plans.14. Esprit de Corps – Organizations should strive to promote team spirit and unity.