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Word Count: 325
Henri Fayol was a key figure in todays management theory Fayol laid down the following principles of management 1Specialization of labor- Specializing encourages continuous improvement in skills and the development of improvements in methods 2Authority- The right to give orders and the power to exact obedience 3Discipline- No slacking bending of rules 4Unity of command- Each employee has one and only one boss 5Unity of direction- A single mind generates a single plan and all play their part in that plan 6Subordination of Individual Interests- When at work only work things should be pursued or thought about 7Remuneration- Employees receive fair payment for services not what the company can get away with 8Centralization- Consolidation of management functions Decisions are made from the top 9Scalar Chain line of authority- Formal chain of command running from top to bottom of the organization like military 10Order- All materials and personnel have a prescribed place and they must remain there 11Equity- Equality of treatment but not necessarily identical treatment 12Personnel Tenure- Limited turnover of personnel Lifetime employment for good workers 13Initiative- Thinking out a plan and do what it takes to make it happen 14Esprit de corps- Harmony cohesion among personnel Out of the 14 the most important elements are specialization unity of command scalar chain and coordination by managers an amalgam of authority and unity of direction He saw a managers job as 1 Planning- Defining and organizing an organizations goals and establishing an overall strategy for achieving those goals 2Organizing- Organizing a business to provide it with everything useful to its functioning such as raw materials tools capital and personnel 3Commanding- A manager in command that knows the people heshe works with understands all of the agreements associated with the firm and is a good leader 4Coordinating activities- Integrating all the actions of the firm to increase efficiency 5Controlling performance- Consists of verifying everything that happens is what they had planned to happen
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