Principles of Management Definition:

Principles of management are fundamental rules of management that could be taught in schools and applied in all organizational situations.

Fayol’s 14 Principles of Management:

1. Division of work: Specialization increases output by making employees more efficient.
2. Authority: Managers must be able to give orders and authority gives them this right.
3. Discipline: Employees must obey and respect the rules that governs the organization.
4. Unity of command: Every employee should receive orders from only one superior
5. Unity of direction: The organization should have a single plan of action to guide managers and workers.
6. Subordination of the individual interests to the general interest: The interest 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 wages for their services.
8. Centralization: This term 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 is the scalar chain.
10. Order: People and materials should be in the right place at the right time.
11. Equity: Managers should be kind and fair to their subordinates.
12. Stability of tenure of personnel: 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 efforts.
14. Esprit de corps: Promoting team spirit will build harmony and unity within the organization.