Principles of Management of Henri Fayol

14) Principles of Management of Henri Fayol       14 principles of Management are statements that are based on a fundamental truth. These principles of management serve as a guideline for decision-making and management actions. They are drawn up by means of observations and analyses of events that managers encounter in practice. Henri Fayol was able to synthesize 14 principles of management after years of study.                             Principles of Management 1. Division of Work 2. Authority and Responsibility 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Subordination 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 1. Division of Work : In practice, employees are specialized in different areas and they have different skills. Different levels of expertise can be distinguished