The document outlines 14 principles of management according to Fayol, including division of work, authority and responsibility, discipline, unity of command, unity of direction, subordination of individual interests, remuneration, centralization, scalar chain, order, equity, stability of personnel, initiative, and esprit de corps. It provides brief explanations of each principle.

1. A principle is a fundamental truth or a basic statement of fact which serves as a guide in thinking or doing certain things Management principles are those fundamental truth which serve as guide to managers in thinking and doing their job of managing 10/12/10 CHARU NAGPAL

6. 10/12/10 CHARU NAGPAL “ One head one plan” The activities that have same objective should be directed by only one manager under one plan

7. 10/12/10 CHARU NAGPAL Harmony of individual interests and organisational interests

8. 10/12/10 CHARU NAGPAL Compensation for work should be fair to both employees as well as the firm

9. 10/12/10 CHARU NAGPAL There should be a fixed place for every thing and every person

13. 10/12/10 CHARU NAGPAL Managers should promote team spirit or unity among the employees No divide and rule policy should be there

14. 10/12/10 CHARU NAGPAL Employee should not be removed from a position in a short period of time Stability of tenure leads to reduction in employee turnover as well as the cost of training and learning of employees