Principles of Management as laid down by F.W. Taylor are:
Division of Work : Division of work refers to dividing the work into compact jobs and allocating these compact jobs to different individuals.
Authority and Responsibility : According to this principle, there should be a proper balance between authority and responsibility.
• Authority is the right to give orders to subordinates and responsibility is the duty, which a subordinate is expected to perform by virtue of his position in organisation. Authority and responsibility go hand in hand.
Discipline : Discipline refers to obedience to rules and regulations of the organisation, which is necessary for systematic working of the organisation.
Unity of Command : According to this principle, each subordinate should receive orders and be accountable to one and only one superior.
Unity of Direction : Unity of Direction implies that there should be one head and one plan for group of activities having same objectives.
Subordination of Individual Interest to General Interest: According to this principle, interest of the organisation as a w hole must prevail over the interest of the individuals or employees.
Remuneration of Employees : According to this principle, overall pay and compensation should be fair to both employees and organisation.
• The remuneration should be just and fair to everybody.
• It should provide satisfaction to both employees and organisation.
Centralization and Decentralization : According to this principle, there should be proper balance between centralization and decentralization in the organisation. Centralization refers to concentration of authority at the top level, whereas decentralization refers to evenly distribution of authority at all levels of management.
Scalar Chain: Scalar chain is the chain of superiors ranging from the highest authority to the lowest level in the organisation.
Order: According to this principle, there should be a place for everything and every one.
• If there is a fixed place for everything and it is present there, then there w ill be no obstruction in work.
• It will lead to increased productivity and efficiency.
Equity : According to this principle, there should not be any discrimination among the employees on the basis of religion, language, caste, sex, belief or nationality.
Stability of Personnel: According to this principle, there should be proper efforts to achieve stability and continuity’ of tenure of personnel.
Initiative : According to this principle, workers should be encouraged and given an opportunity to take some “initiative in making and executing the plans.
EspiritvDe Corps : According to this principle, management should take reasonable steps to develop a sense of belongingness and feeling of team spirit among employees.
