Principles of Management:-

In management there are certain principles which are developed by managers through continuous observation.

These principals are called as general guidelines which are used by the managers to solve their problems and to take various decision.Principles of management are general guidelines which provide a solution but it does not provide the solution as one for all. The principles of management are not like the principles of science which are rigid.The principles of management are not rigid they need to be modified as per the requirement.Along with that the principle of management are applied on human beings so they are applied with more creativity and as the situation demands.

 Fayol' Principels of Management

Henri Fayol (1841-1925)was a french management theorist. His theories deal with organisation of production. Fayol was the first to identify four functions of management -planning, organising, directing,and controlling.He also propounded 14 principles of management which were puplished in his book,'Administration industrielle et general in 1917.

               For his contribution he is also known as the 'Father of general management'

  

The 14 principles of management given by him are:

1. Division of work - According to this principle Henri fayol says that the work of an organisantion should be divided into small task or jobs. And that small task should be provided to that person who is competent to perform that task. In this way each worker is having that job in which they can perform with least wastage.

           Thus division of work lead to specialisation as each performance of the worker enhance there workings, doing some work again and again decreases there risk of wastage.

Advantages

a) Time saving

b) Lead to specialization

c) Least wastage of resources

Disadvantage

a) Loss of skill and craftmanship

b) Makes the job less interesting

2. Authority and responsibility

According to Fayol, '' Authority is the right or power to give orders. And responsbility is the obligation or duty.

 As per this principle fayol suggest that there should be balance between authority and responsibility. If authority is more than there will be misuses of power.On the other hand if the responsibility is more than the authority then the worker is not able to complete there work or duty.

  SO, we can say that both authority and responsibility goes with hand on hand. If authority is less, the 

subordinate will not be able to perform his cities well. If he is given excessive authority if he is given

 excessive authority, he may misuses his authority.

3.Discipline - Discipline means follow up all rules and regulations of the business organisation .

   According to Fayol discipline plays an important role for the smooth running of the business operations so, for achieving the business goals effectively and efficiently a business must act upon this principles.

4. Unity of command - Fayol gives lot of importance to this principle of management.According to this principle Fayol says there should be one and only one boss for every individual employee. Which means that an individual should receive order from one person only at particular time that is there should be only one superior to the one subordinate.

    This principle is very important for an organisation if it is violated then  the  subordinate  may be 

confused. So, we  can say that this principle of management avoids  dual subordinate i.e order form two superior to a single subordinate at a single  time .

5.Unity of Direction- As per this principle must be unity of direction which means there must be one head having only one plan to achieve that plan they must go to one direction.

  If there are more than one departments in the organisation then each department has one seprate head for each department and that each head has there own plan to provide a single direction to there workers.

6.Subordinate of Individuals interest to general interest -According to this principle there are two types of objectives in an organisation,the one is individuals interest and the second is general interest.

  An individual interest is related to a single individual on the other hand the general interest is related to the whole organisation.

   Fayol suggest that individual interest should be subordinate for the interest of general which means that the interest of whole organisation should be given importance upon the interest of single individual. The objective of whole business organisation is more important than the objective of single person as the general interest provides the benefit to all the persons who are related to it.

7. Remuneration of Employees- Remuneration of employees means salary payable to the employees as a compensation for their work.

   According to this principle fayol suggest that each and every employees of the business must be given fair remuneration . Fair remuneration means just and equitable for the work of employee and it should be within pay capacity of the organisation. So, We can say that this principle suggest that the overall pay and compensation should be fair to both employees an the organisation.

8.Centralization and Decentralization-  Centralization means an organisation in which the decision making power is concentrated under one person.The only person will going to take all decision in the  management. On the other hand a decentralized  organization is one in which decision making power is divided among the subordinates.

  According to Fayol there must be balance between centralization and decentralization , both are equally required for the business . 

  The centralization alone will lead to discouragement and demotivate of employees , the alone decentralization lead to lack of control by the top management.

9.Scalar chain - We know that in every type of business there exist three levels of management and each level has their own workers who shares a relation of superior and subordinate . So, we can say that in every organisation there exist a chain of relationship .

     According to Fayol  this chain of relationship can be used as a chain of communication throughout the organisation . In this way no one could be escaped from receiving that important information .

     So, this principle suggest that a business should supply an information in a chain . But in this way the information may be delayed. So , to solve that problem new term is coined called going plank which means using a shorter route to communicate the information.

10.Order-  According to this principle,''There is place for every thing and every thing must be in its place''. Which means that a business organisation must have a separate place for every thing and that thing must be in its place. This is called as order. 

   If there is a fixed place for everything and it is present there, then there will be no stoppage of  work.

11.Equity - Equity here means equality,As per this this principle the employees of an organization must be treated with equality. There should be fair treatment of each and every employee of the business According to Fayol there should be no discrimination against anyone on account of gender, Language, religion, cast or nationality etc .

12.Stability of personnel -  According to this principle a business needs to incur lot of expenses to hier a right person for the right person for the right job. So, it is the duty of manager to have a stability of that hiered personnel.

    Hence, this principle suggest that the employee turnover ratio should be minimized as selecting again a right person is required lot of time and money 

   The selected employee should be given reasonable time to show results,they should be kept at their post for a fixed time or tenure.

13.Initiative- Initiative means taking first step for any thing. According to this principle fayol suggest that the employees of an organisation should be encouraged to take initiative that is to take first step for developing and carrying out their own plans.

   This principle will going to motivate the employees, but this principle does not suggest to go against the company or owners.

14.Espirit De Corps - According to this principle Fayol suggest that in every business organisation there should be team work among the employees. An individual person may not be capable to achieve the goals of whole organisation.

   Team spirit or team work is must in large organisation . The manager should used word 'we' instead of word 'I' in all his/ her conversation.