Management is the coordination and administration of tasks to achieve a goal. In the 19th century most companies promoted the best technicians. But Henry Fayol recognized that the skills that made them good at their jobs didn’t necessarily make them good managers. Henry Fayol is known as the father of modern management. He gave a new perception to the concept of management. Fayol theory is practised by the managers to organize and regulate the internal activities of an organization. He explained the fourteen principles of management in his book “Industrial and General Administration”. The fourteen principles of management created by Henry Fayol are universally accepted guidelines for managers to do their job according to their responsibility. Division of work, balancing of authority, discipline, unity of command, unity of direction, subordination of individual interests to the general interest, remuneration, centralization, scalar chain, order, equity, stability of tenure of personnel, initiative, Esprit De are the 14 principles of management by Henry Fayol.

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