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)