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Scholars Journal of Economics, Business and Management | Volume-5 | Issue-09
Principles of Management: Their Relevance and Applicability in the Management of Current and Future Organisations
Lawrence Poperwi
Published: Sept. 30, 2018 | 193 249
DOI: 10.36347/sjebm.2018.v05i09.001
Pages: 808-812
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Abstract
The article reviewed Henri Fayol’s 14 principles of management namely division of work, authority and responsibility, discipline, unity of command, unity of direction, subordination of individual interest to general interest, remuneration of personnel, centralisation, scalar chain, order, equity, stability of tenure of personnel, initiative and esprit de corps. The article presented the importance of the principles of management. It was highlighted that the principles of management have distinctive features or characteristics which a manager should take note of when applying the principles in a variety of situations. It was clear that most of the principles of management are relevant today and in future organisations. Although the principles of management may need adaptation in certain situations they remain the foundation of management theory and practice.