Principles of Management

Henri Fayol's techniques of management, known as the "14 Principles of Management", include division of work, authority, discipline, unity of command, unity of direction, subordination of individual interest to the general interest, remuneration, centralization, scalar chain, order, equity, stability of tenure. Getting Maximum Results with Minimum Efforts - The main objective of management is to secure maximum outputs with minimum efforts & resources. Management is basically concerned with thinking & utilizing human, material & financial resources in such a manner that would result in best combination. Adherence to these policies will supplement their education, capability and perception of managerial conditions and circumstances. Optimum utilisation of resources and efficient management: Both material and human resources are obtainable with the firm are restricted.