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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DIVISION OF WORK
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ESPIRIT DE CORPS
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INITIATIVE
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FAIR REMUNERATION TO WORKERS
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Detailed explanation-1: -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-2: -The remuneration system must be such which provides for the adequate remuneration to the employees, motivates the employee to perform better, and may ensure safety & security, raise standard of living of the employees.
Detailed explanation-3: -Esprit de Corps. Esprit de Corps is a French term that means “Team Spirit.” Therefore, the management should create unity, cooperation, and team spirit among employees.
Detailed explanation-4: -The generally accepted principles governing the fixation of wages and salary are: (i) There should be definite plan to ensure that differences in pay for jobs are based upon variations in job requirements, such as skill effort, responsibility or job or working conditions, and mental and physical requirements.