Principles of management

Henry fayol 

Started his career as a meaning engineer in 1860 in a cooriyar company in France in 1866 .he was appointed as the manager of coliers and remain in this position for 22 years.

In 1888 when companies financial position was critical he was appointed as the general manager.

Fayol felt that the activities of business could be divided into 6 groups:

1. Technical

2. Commercial

3. Financial

4. Security

5. Accounting

6. Managerial

Fayols principle of managements: 

In addition fayol listed about 14 principles of management they are:

1.Division of labour

2.Authority

3.Discipline

4.Unity of command

5.Unit of direction

6.Subordination of individual interest to the common goal

7.Remuneration

8.Centralisation

9.The hierarchy

10.Order

11.Equity

12.Stability of staff

13.Initiative

14. Espirt the corps