BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Remuneration
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Equity
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Unity of Command
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Centralisation
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Scalar chain
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Detailed explanation-1: -Henri Fayol was known as the father of modern management. He gave us the famous 14 principles of management. According to him, the 5 main functions of management are Planning, Organizing, Commanding, Coordinating and Controlling.
Detailed explanation-2: -Equity. Equity means combination of fairness, kindness & justice.
Detailed explanation-3: -Fayol wrote that “an employee should receive orders from one supervisor only.” Otherwise, authority, discipline, order, and stability are threatened. Unity of Direction. Teams with the same objective should be working under the direction of one manager, using one plan.
Detailed explanation-4: -Henri Fayol was one of the most influential contributors to modern concepts of management. Fayol has been described as the father of modern operational management theory. Like Socrates, Fayol suggested that management is a universal human activity that applies equally well to the family as it does to the corporation.