BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Definition of a fair remuneration: “The remuneration received for a standard workweek by a worker in a particular place sufficient to afford a decent standard of living for the worker and her or his family.

Detailed explanation-2: -7. Remuneration. This henry fayol principle of management states that employees should be paid fair wages for the work that they carry out. Any organization that underpays its workers will struggle to motivate and keep quality workers. This remuneration should include both financial and non-financial incentives.

Detailed explanation-3: -First, remuneration refers to the pay, or compensation, that you receive for a job or service performed. Second, Henri Fayol brought the concept of fair and equitable remuneration to light in the world of management, along with relating that concept back to employee satisfaction.

Detailed explanation-4: -Remuneration – Employee satisfaction depends on fair remuneration for everyone. This includes financial and non-financial compensation. Centralization – This principle refers to how close employees are to the decision-making process. It is important to aim for an appropriate balance.