Principles of Management

 

Fayol's 14 Principles of Management

Henri Fayol (1841-1925) worked for many years as a manager of a mining company in France. He developed his own ideas about managing while serving as the chief executive officer (CEO). He believed that all supervisors of a company, from line supervisors to the president, should receive managerial training.

Fayol developed a list of principles of management to help him become a better manager. He believed that there were more than 14 of them, but chose to focus on those he found to be the most useful in his own career. The 14 principles that Fayol concentrated on were:

  • Division of work
  • Authority & responsibility
  • Discipline
  • Principle of one boss
  • Unity of direction
  • Subordination of individual interests to the general interest
  • Fair remuneration
  • Centralization & de-centralization
  • Scalar chain
  • Order
  • Equity
  • Stability of tenure of personnel
  • Initiative
  • Esprit de corps (building harmony and unity)

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