Fayol argued that specialization leads to efficiency. B. Authority and Responsibility: The right to give orders must come with the responsibility for the consequences. C. Discipline: Obedience and respect for agreements. D. Unity of Command: An employee should receive orders from one superior only. (This is a favorite topic for examiners to ask case studies about). E. Unity of Direction: One head and one plan for a group of activities having the same objective. F. Subordination of Individual Interest to General Interest: The organization’s interests must supersede individual interests. G. Remuneration: Should be fair and provide satisfaction to both employees and the organization. H. Centralization and Decentralization: The balance of power in decision-making. I. Scalar Chain: The chain of command from top to bottom. J. Order: A place for everything and everything in its place. K. Equity: Kindness and justice in dealing with employees. L. Stability of Tenure: Employees should not be moved from their positions frequently. M. Initiative: Encouraging employees to originate and carry out plans. N. Esprit de Corps: Promoting team spirit.
Based on the popular Poonam Gandhi (VK Publications) textbook for Class 12 Business Studies, Chapter 2 covers Principles of Management poonam gandhi bst class 12 pdf chapter 2
Before dissecting Chapter 2, it is essential to understand why students specifically search for the Poonam Gandhi textbook. Fayol argued that specialization leads to efficiency