4. Fayol’s 14 Principles of Management- busted the myth that
‘Managers are Born and not made. He insisted that
management is a skill which can be taught
• Division of work (training)
• Authority / responsibility
• Discipline (obey rules)
• Unity of Command
• Unity of Direction (one
plan)
• Individual’s interest
subordinate to
organization’s interest.
• Fair Remuneration
• Centralization
• Hierarchy
• Orderliness (right
people and right material at
right place)
• Equity (principle of hot
stove)
• Stability of Tenure
• Initiative
• Esprit de corps