Fayol's Theory of Management
Fayol's Theory of Management Fayol wrote that all activities of business enterprises could be divided into six groups: technical, commercial, financial, accounting, security and administrative or managerial. Fayol's primary focus, of course, was on this last managerial activity because he felt managerial skills had been the most neglected aspect of business operations. He defined management in terms of five functions: planning, organising, commanding, coordinating anc controlling. On the basis of his own experience in the field, Fayol set fourteen principles of management. These are as follows : 1. Division of work- Man acquires greater skill when he specializes in single operation. Division of work makes it possible to specialize in a single thing rather than doing everything by oneself. According to Fayol the principle of division of work should be applied to all kinds of work-technical as well managerial 2. Authority and Responsibility--Respon...