Exhibit A.2 lists Fayols 14 principles of management, first published in 1916. Are they as useful today
Question:
Exhibit A.2 lists Fayol’s 14 principles of management, first published in 1916. Are they as useful today as they were then? Why or why not? When are they most, and least, useful?
Transcribed Image Text:
EXHIBIT A.2 Fayol's 14 Principles of Management 1. Division of work-divide work into specialized tasks and assign responsibilities to specific individuals. 2. Authority-delegate authority along with responsibility. 3. Discipline-make expectations clear and punish violations. 4. 5. 6. Unity of command-each employee should be assigned to only one supervisor. Unity of direction-employees' efforts should be focused on achieving organizational objectives. Subordination of individual interest to the general interest-the general interest must predominate. 7. Remuneration-systematically reward efforts that support the organization's direction. 8. Centralization-determine the relative importance of superior and subordinate roles. 9. Scalar chain-keep communications within the chain of command. 10. Order-order jobs and material so they support the organization's direction. 11. Equity-fair discipline and order enhance employee commitment. 12. Stability and tenure of personnel-promote employee loyalty and longevity. 13. Initiative-encourage employees to act on their own in support of the organization's direction. 14. Esprit de corps-promote a unity of interests between employees and management.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Fayols 14 principles of management published in 1916 have been influential in shaping management pra...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Management Leading And Collaborating In A Competitive World
ISBN: 9781265051303
15th International Edition
Authors: Thomas S Bateman, Scott A Snell, Robert Konopaske
Question Posted:
Students also viewed these Business questions
-
Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
-
Q1. You have identified a market opportunity for home media players that would cater for older members of the population. Many older people have difficulty in understanding the operating principles...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Value Mapping Use the attached information to map the current state map and future state map. Jack's Taxes Jack is a CPA and maintains a practice in personal, self-employed and small business income...
-
A tidal wave or tsunami is usually the result of an earthquake in the Pacific Rim, often 1000 or more miles from Hawaii. Tsunamis are rare but dangerous. Many tsunamis are small and do little damage....
-
To emphasize the role of control and monitoring systems suitable for specific situations and locations in the firms international operations.
-
Describe the difference between the proportion of false-positives and the false-positive rate.
-
Faune Furniture Co. consists of two divisions, Bedroom Division and Dining Room Division. The results of operations for the most recent quarter are: (a) Determine the company's sales mix. (b)...
-
Problem 10-11 (Algo) Direct Materials and Direct Labor Variances; Computations from Incomplete Data (LO10-1, LO10-2) Sharp Company manufactures a product for which the following standards have been...
-
What are the main differences between the macroenvironment and the competitive environment? What current examples come to mind?
-
1. See the nearby figure showing primary and secondary connections. Working on your own, write down all of your primary contactsindividuals you know personally who can support you in attaining your...
-
A zero coupon bond with a par value of $100 matures in five years. (a) What is the price of the bond if the yield to maturity is 5 per cent? (b) What is the price of the bond if the yield to maturity...
-
The adjusted trial balance columns of a worksheet for Levitt Corporation are shown below. The worksheet is prepared for the year ended December 31, Complete the worksheet by (a) entering the adjusted...
-
Derive the commutator $\left[Q_{i}, Q_{j} ight]=i \epsilon_{i j k} Q_{k}$ for the charge defined in Eq. (33.4). Use the charge (33.4) to write the commutator, displaying explicit matrix indices...
-
Verify that the potential $V(\pi, \sigma)$ can be written as Eq. (33.11), and that if $\epsilon=0$ and the symmetry is implemented in the Wigner mode the masses for the $\pi$ and $\sigma$ fields are...
-
Figure 5.7 shows a number of yield curves at various points in time. Go to www.treasury.gov, and in the Resource Center at the top of the page click on Data and Charts Center. Find the Treasury yield...
-
The number of vacation days used by a sample of 20 employees in a recent year In Exercises 2326, use technology to draw a box-and-whisker plot that represents the data set. 3 9 2 17 5 3 2 2 6 4 0 10...
-
Coreys Campus Store has $ 4,000 of inventory on hand at the beginning of the month. During the month, the company buys $ 41,000 of merchandise and sells merchandise that had cost $ 30,000. At the end...
-
[a] Two foam blocks, each with a charge of 19 micro coulombs (1 C = 10-6 C), are both held in place 19 cm apart in the east-west direction. A foam ball with a charge 49 C is placed 55 cm north of the...
-
For each of the following independent statements, indicate whether the transaction will increase (+), decrease (), or have no effect (NE) on the basis of a shareholders stock in an S corporation. a....
-
Sheila Jackson is a 50% shareholder in Washington, Inc., an S corporation. This year, Jacksons share of the Washington loss is $100,000. Jackson has income from several other sources. Identify at...
-
TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for the year totaling $400,000 (of which $200,000 is PII). Expenditures directly connected to the production of the...
-
Los siguientes datos corresponden a las operaciones de Turk Company el ao pasado: Ventas $ 900 000 Utilidad operativa neta $ 36 000 Margen de contribucin $ 150 000 Activos operativos promedio $ 180...
-
Problem 16-16 Tax Shields (LO2) River Cruises is all-equity-financed with 53,000 shares. It now proposes to issue $280,000 of debt at an interest rate of 12% and to use the proceeds to repurchase...
-
In a process costing system, companies use predetermined overhead rates to apply overhead
Study smarter with the SolutionInn App