BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Henry Fayol laid down 14 principles. They are Division of Work, Authority and Responsibility, Discipline, Unity of Command, Unity of Direction, Subordination of Individual Interest, Remuneration, The Degree of Centralization, Scalar Chain, Order, Equity, Stability of Tenure of Personnel, Initiative and Esprit de Corps.

Detailed explanation-2: -Henry Fayol is popularly known as the father of modern management as he suggested the 14 principles of management in the 20th century.

Detailed explanation-3: -What Is the Importance of the 14 Principles of Management? The principles of management allows managers to understand how to run an organisation. It also helps them to accomplish tasks and manage situations as and when they arise in the organisation.

Detailed explanation-4: -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-5: -Fayol’s 14 Principles of Management – Division of Work, Authority and Responsibility, Discipline, Unity of Command, Centralisation, Scalar Chain and a Few Others.