Equity
According to this principle, there should not be any discrimination amongst employees based on religion, caste, language, or nationality. Equity ensures coordinated relations between superiors and subordinates. It leads to the smooth and successful working of the enterprise. It improves satisfaction and motivation of the employee, creating relation between manager and employees.
For example, workers doing similar jobs in the same organization should be paid same wages irrespective of their sex, caste, religion and language.
14 Principles of Management by Henri Fayol
Principles of Management are like a guidebook for leaders to run a company well. They help managers make plans, organize tasks, and motivate teams, and, they serve as frameworks for managers to deal with the difficulties of leading people and achieving goals within an organization.
Principles of Management cover a diverse range of concepts and practices that aim to optimize resources, encourage innovations, and improve performance. They provide managers with a systematic approach to decision-making, problem-solving, and achieving results in a dynamic business environment.
Table of Content
- What are the Principles of Management?
- Who was Henri Fayol ?
- Principles of Management by Henri Fayol
- 1. Division of Work
- 2. Authority and Responsibility
- 3. Discipline
- 4. Unity of Command
- 5. Unity of Direction
- 6. Subordination of Individual Interest to General Interest
- 7. Remuneration of Employees
- 8. Centralization and Decentralization
- 9. Scalar Chain
- 10. Order
- 11. Equity
- 12. Stability of Personnel
- 13. Initiative
- 14. Esprit De Corps
- Difference between Principles of Management and Techniques of Management
- Henry Fayol’s Principle of Management – FAQs