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Fayol's Principle of Management (Activitiies of Business ((i)…
Fayol's Principle of Management
3.
General Principles of Management
1.
Classification of Business
2.
Function of management
Activitiies of Business
(i) Technical Activities
Concerned with Production &manufacturing of goods
(ii) Financial Activities
Concerned with arranging the required finance,its use and control
(iii) Security Activities
Concerned with protection of property & persons
(iv) Accounting Activities
Concerned with stock taking,balance sheet,costing
Fayol's Principal of Management
(2.) Human Relation
(ii
)Subor
din
ation
o
f Individ
ual Inte
rest to Ge
ner
al Inte
re
st
indicated that personal interests are subordinate to the interests of the organization (ethics).
(i
ii)
E
qui
ty
employees must be treated kindly and equally. Employees must be in the right place in the organization to do things right.
(iv)
Stabi
lity
o
f Te
nure
Management strives to minimize employee turnover and to have the right staff in the right place.
(
v) E
spirit D
e Crop
s
Esprit de corps contributes to the development of the culture and creates an atmosphere of mutual trust and understanding.
(vi)
Init
iativ
e
This encourages the employees to be involved and interested.
(1.) Production
(
i)
Divi
sio
n of Lab
ou
r
specialization promotes efficiency of the workforce and increases productivity.
3.Administration
(vii)
Auth
ority
&Re
spon
sibility
the accompanying power or authority gives the management the right to give orders to the subordinates.
(viii)
Di
sci
plie
It is often a part of the core values of a mission and vision in the form of good conduct
(ix)
Un
it
y of Co
mma
nd
‘Unity of command’ means that an individual employee should receive orders from one manager
(xi)
Cen
tralisati
on
indicated that an organization should strive for a good balance in this.
(x)
U
nity
of Dir
ecti
on
All employees deliver the same activities that can be linked to the same objectives. .
(xii)
Scalar Chain
“hierarchy” management principle states that there should be a clear line in the area of authority ( top to bottom & all managers at all levels).