Henry Fayol's 14 principles of management (Full explanation) | Full theory explained in easy way |

Hello guys, I am Lavish Gupta and this video is about 14 Principles of Management which is a very Important topic. These 14 principles of management are given by Henry Fayol, a French Mining Engineer . and These Principles are collectively known as Administrative theory.

Okay, 14 Principles of management are statements that are based on a fundamental truth and serves as a guideline for decision making and management actions.k

They are drawn up by means of observations and analysis of events that managers encounters in practice.

And, Henry Fayol, after years of study was able to give these 14 principles of management which are

1. Division of work
2. Authority and Responsibility
3. Discipline
4. Unity of Command
5. Unity of Direction
6. Subordinate of Individual Interest
7. Remuneration
8. The Degree of Centralization
9. Scalar Chain
10. Order
11. Equity
12. Stability of Tenure of Personnel
13. Initiative
14. Esprit De Corps

Let's discuss about each of these Principles one by one :-
First is Division of Work - This Principle is also known an Division of Labour. It refers to the division of work among various Individuals in the organization to bring about specialization in every activity. This Principle is equally applicable to managerial work and technical work. That means , not only the technical work has to be divided but the managerial work also need to be divided and distributed among various individuals in the organization Specialization increases the efficiency of Individuals. Fayol recommended that work of all kinds must be sub divided and allocated to a number of Person. Sub- division makes each task simpler and results in greater efficiency.

Second Principle is Authority and Responsibility - Authority is the right or power to give orders to the subordinates and Responsibility means the duty which the subordinate is expected to perform by virtue of his position in the organization . Fayol recommended that Authority and Responsibility should go hand in hand because Authority without Responsibility might promote irresponsible behavior on the part of management and Responsibility without Authority will make management ineffective.

Third Principle is Discipline - Discipline means getting obedient to rules and regulations of the organization. And Employees must obey and respect the rules that govern the Organization for the smooth functioning of the organisation. According to Fayol, Discipline can be maintained by

1. Having good superiors at all levels.
2. Entering into Agreements.
3. Ensuring that Penalties are judiciously imposed.

Unity of Command - According to this Principle, Each Subordinate should receive orders and be accountable to one and only one superior. No Employee should receive instruction from more than one person. This Principle is necessary to avoid confusion or conflicts. For Example- If there are more than one Superior and each want that work is carried out according to his/her instructions. The Employees may get confused regarding whose Instruction, they should follow. There is also possibility of conflict among the Superior regarding how the work should be completed.

Unity of Direction- This principle states that there should be one head and one plan for activities having similar nature. That means Each Organizational activities that have the same objective should be directed by one manager using one plan for achievement of Organizational goal. No organization can succeed unless there is Unity of Direction. Unity of Direction alone can produce a sense of loyalty and devotion amongst Subordinates.

Subordinate of individual Interest to General Interest - This Principle calls for the reconciliation of Individual Interest to those of the organization. Both of Employees and the Management should subordinate their interest to the general interest of the organization so that goals of the organization are achieved. Individual Interest should not become of more Priority than the Inte

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When is your next video? :D Keep it up!

[prashudwivedi]

Bro can you please make a vedio for j.b says law of market and.keynsian theory of income and employment

[QhamarUddin]

Bolre kuc ho btre kuc our hai complet btao na sir