This article throws light upon the fourteen main principles of management by H. Fayol. The principles are: 1. Division of Work 2. Authority and Responsibility 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Emphasis on Subordination of Personal Interest to General 7. Remuneration 8. Centralisation 9. Scalar Chain 10. Order 11. Equity 12. Stability of Tenure 13. [...]
This article throws light upon the two main types of organisation structure of a company. The types are: 1. Functional Structure 2. Divisionalised Structure. Type # 1. Functional Structure: All work of the same kind is put into one managerial unit. Every company starts with a basic functional organisation. When business is small, products range is narrow, market is [...]
This article throws light upon the top eight functions of management. The functions are: 1. Planning 2. Organising 3. Staffing 4. Directing 5. Motivating 6. Controlling 7. Co-Ordination 8. Communication. Function # 1. Planning: When management is reviewed as a process, planning is the first function performed by a manager. The work of a manager begins with the setting of [...]