Answer :

The principles of management suggested by Henry Fayol are as follows:

Division of work- The efficiency of work becomes more when it is divided among skilful employees.


Authority and responsibility- It refers to the official authority and individual responsibility which comes from experience and intelligence.


Discipline- This refers to the managerial authority and disciples among the employee to conduct an efficient work and complete in due time.


Unity of Command- This asks an employee to receive orders from one superior only.


Unity of Direction- It directs a team having a leader and other employees to fulfil the objective of the plan.


Sub-ordination and individual interest to general interest- It tells that there shouldn’t be any difference among each other and cooperate fully.


Remuneration of Personnel- The remuneration and methods of payment should be fair and satisfactory to the employee.


Centralisation- It refers to the extent to which the authority is concentrated, so that it gives overall yields.


Scalar chain- This principle tells that in every enterprise there should be graded authority or superior-subordinate relationship.


Equity- It states that there must be good co-operation among the employee.


Stability of security to personnel- The management should look toward the job security of its employees.


Initiative- The management should think of the final goals and progress accordingly.


Espirit De-Corps- It focuses on the principle ‘Unity is Strength’.


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