How Relevant Is Principle Of Management To Managers?
Relevance of Fayol's principles of management to managers of today. Aleast relevance of 5 of his principles to managers
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The principles of Management by Henri Foyl are extremely relevant to managers of today. Following is their point-wise explanation:
Division of work: Is extremely important since old time. It allows an individual to pursue a set of skills so that these skills become his speciality. This is extremely important today especially in functional organizations. Like we have HR specialists, financial analysts etc
Discipline: Without discipline organizations of today will not be able to achieve their goals and objectives
Remuneration: This is very important and the various theories of motivation are a result of this principle. It is crucial to pay back the employees financially and non-financially so that he is compensated for his work.
Division of work: Is extremely important since old time. It allows an individual to pursue a set of skills so that these skills become his speciality. This is extremely important today especially in functional organizations. Like we have HR specialists, financial analysts etc
Discipline: Without discipline organizations of today will not be able to achieve their goals and objectives
Remuneration: This is very important and the various theories of motivation are a result of this principle. It is crucial to pay back the employees financially and non-financially so that he is compensated for his work.
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