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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Initiative
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Espirit De Corps
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Stability of personnel
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Equity
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Detailed explanation-1: -Stability of Tenure of Personnel This principle states that an organization should work to minimize staff turnover and maximize efficiency.
Detailed explanation-2: -Why Is Reducing Employee Turnover Important? Reducing employee turnover impacts company profitability. Having enough people with the right skills is obviously crucial to delivering on business plans and objectives. Additionally, finding the right people is getting more challenging (and costly).
Detailed explanation-3: -Therefore, Fayol advocates Employee turnover should be minimized to maintain organisational efficiency particularly the managerial personnel. Frequent change of personnel should be avoided. In big concerns, stability of personnel is more important.
Detailed explanation-4: -Stability of tenure of Personnel refers to no frequent termination and transfer. According to this principle, the management should provide the feeling of job security among the employees because with the feeling of insecurity they will not contribute their maximum in the organisation.