fayol principle applied in vishal mega mart

[joffin07]

Henri Fayol was born in Istanbul in 1841. When he was 19, he began working as an engineer at a large mining company in France. He eventually became the director, at a time when the mining company employed more than 1,000 people.

Through the years, Fayol began to develop what he considered to be the 14 most important principles of management. Essentially, these explained how managers should organize and interact with staff.

In 1916, two years before he stepped down as director, he published his "14 Principles of Management" in the book "Administration Industrielle et G n rale." Fayol also created a list of the six primary functions of management, which go hand in hand with the Principles.

Fayol's "14 Principles" was one of the earliest theories of management to be created, and remains one of the most comprehensive. He's considered to be among the most influential contributors to the modern concept of management, even though people don't refer to "The 14 Principles" often today.

The theory falls under the Administrative Management school of thought (as opposed to the Scientific Management school, led by Fredrick Taylor Add to My Personal Learning Plan).

Fayol's 14 Principles of Management

Fayol's principles are listed below:
Division of Work When employees are specialized, output can increase because they become increasingly skilled and efficient.
Authority Managers must have the authority to give orders, but they must also keep in mind that with authority comes responsibility.
Discipline Discipline must be upheld in organizations, but methods for doing so can vary.
Unity of Command Employees should have only one direct supervisor.
Unity of Direction Teams with the same objective should be working under the direction of one manager, using one plan. This will ensure that action is properly coordinated.
Subordination of Individual Interests to the General Interest The interests of one employee should not be allowed to become more important than those of the group. This includes managers.
Remuneration Employee satisfaction depends on fair remuneration for everyone. This includes financial and non-financial compensation.
Centralization This principle refers to how close employees are to the decision-making process. It is important to aim for an appropriate balance.
Scalar Chain Employees should be aware of where they stand in the organization's hierarchy, or chain of command.
Order The workplace facilities must be clean, tidy and safe for employees. Everything should have its place.
Equity Managers should be fair to staff at all times, both maintaining discipline as necessary and acting with kindness where appropriate.
Stability of Tenure of Personnel Managers should strive to minimize employee turnover. Personnel planning should be a priority.
Initiative Employees should be given the necessary level of freedom to create and carry out plans.
Esprit de Corps Organizations should strive to promote team spirit and unity.

[sudhanshudubey112]

fayol principle applied in vishal mega mart

Management Principles developed by Henri Fayol:
DIVISION OF WORK: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization.
AUTHORITY: The concepts of Authority and responsibility are closely related. Authority was defined by Fayol as the right to give orders and the power to exact obedience. Responsibility involves being accountable, and is therefore naturally associated with authority. Whoever assumes authority also assumes responsibility.
DISCIPLINE: A successful organization requires the common effort of workers. Penalties should be applied judiciously to encourage this common effort.
UNITY OF COMMAND: Workers should receive orders from only one manager.
UNITY OF DIRECTION: The entire organization should be moving towards a common objective in a common direction.
SUBORDINATION OF INDIVIDUAL INTERESTS TO THE GENERAL INTERESTS: The interests of one person should not take priority over the interests of the organization as a whole.
REMUNERATION: Many variables, such as cost of living, supply of qualified personnel, general business conditions, and success of the business, should be considered in determining a worker s rate of pay.
CENTRALIZATION: Fayol defined centralization as lowering the importance of the subordinate role. Decentralization is increasing the importance. The degree to which centralization or decentralization should be adopted depends on the specific organization in which the manager is working.
SCALAR CHAIN: Managers in hierarchies are part of a chain like authority scale. Each manager, from the first line supervisor to the president, possess certain amounts of authority. The President possesses the most authority; the first line supervisor the least. Lower level managers should always keep upper level managers informed of their work activities. The existence of a scalar chain and adherence to it are necessary if the organization is to be successful.
ORDER: For the sake of efficiency and coordination, all materials and people related to a specific kind of work should be treated as equally as possible.
EQUITY: All employees should be treated as equally as possible.
STABILITY OF TENURE OF PERSONNEL: Retaining productive employees should always be a high priority of management. Recruitment and Selection Costs, as well as increased product-reject rates are usually associated with hiring new workers.
INITIATIVE: Management should take steps to encourage worker initiative, which is defined as new or additional work activity undertaken through self direction.
ESPIRIT DE CORPS: Management should encourage harmony and general good feelings among employees.

[rahool360]

Henri Fayol (Istanbul, 29 July 1841 Paris, 19 November 1925) was a French mining engineer, mining executive, author and director of mines who developed a general theory of business administration that is often called Fayolism.[1] He and his colleagues developed this theory independently of scientific management but roughly contemporaneously. Like his contemporary, Frederick Winslow Taylor, he is widely acknowledged as a founder of modern management methods.

[ralfdecosta]

I want to know that which principles of management are followed in vishal mega mart and in which manner? Iwant it in detail for my business studies project. Please help me out.

[saikrishna]

I want your help please send me .. i want to make a project on the topuc principle of managment used in vishal mega mart please send me the project

[ravishankar]

I want to know how fourteen principles of fayol are applied in VISHAL megamart ,please help me