There isn't a single, universally agreed-upon number of management principles. However, a well-known answer comes from Henri Fayol, who identified 14 principles of management.
Fayol's 14 Principles of Management
Fayol's work, which helped establish Administrative Theory, outlines a top-down approach to organizational management. These principles aim to optimize employee performance and business efficiency. His book highlighted these principles.
Here are Fayol's 14 principles:
- Division of Work: Specializing tasks to improve efficiency.
- Authority: Managers have the right to give orders.
- Discipline: Employees must obey rules.
- Unity of Command: Each employee reports to only one manager.
- Unity of Direction: One plan for a group of activities with the same objective.
- Subordination of Individual Interest: The interests of the organization come before individual interests.
- Remuneration: Fair payment for work done.
- Centralization: Degree to which authority is concentrated.
- Scalar Chain: Line of authority from top to bottom.
- Order: A place for everything and everything in its place.
- Equity: Fairness and justice for all employees.
- Stability of Tenure of Personnel: Minimizing employee turnover.
- Initiative: Encouraging employees to take initiative.
- Esprit de Corps: Promoting team spirit and unity.
While Fayol's 14 principles are influential, other management theories exist, each potentially offering its own set of principles or guidelines. The best approach depends on the specific organization, its goals, and its context.
