Management The Father of Modern Management is Mr.Henry Fayol, and according to him there are major principles of management which every manager has to practice for the success of the organization. . Division of Work: According to this principle the whole work is divided into small tasks. The specialization of the workforce according to the skills of a person, creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour.
. Authority and Responsibility: This is the issue of commands followed by responsibility for their consequences. Authority means the right of a superior to give the order to his subordinates whereas responsibility means obligation for performance. .
Discipline: It is obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organizations. . Unity of Command: This principle states that each subordinate should receive orders and be accountable to one and only one superior.
If an employee receives orders from more than one superior, it is likely to create confusion and conflict. . Unity of Direction: All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager. 12th Commerce Unit - - .
. AM . Initiative: Using the initiative of employees can add strength and new ideas to an organization. Initiative on the part of employees is a source of strength for organization because it provides new and better ideas.
Employees are likely to take greater interest in the functioning of the organization. . Esprit de Corps/Team Spirit: This refers to the need of managers to ensure and develop morale in the workplace; individually and communally. Team spirit helps develop an atmosphere of mutual trust and understanding.
Team spirit helps to finish the task on time