Accounting technicians scheme west africa
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- Coordinating
- Authority and responsibility
- Unity of command
- Remuneration
- The Hierarchy
| of management. Fayol stated that there were five fundamental functions for all managerial activity: (a) Planning: Examining the future and developing a plan of action. b) Organizing: Creating a structure of both people and materials to achieve the plans. c) Commanding: Maintaining appropriate activities among the personnel and setting a good exampled) Coordinating: Unifying and harmonizing organizational varieties. e) Controlling: Seeing that the required activities are accomplished inline with the established plans. Fayol’s Principles of Management are (a) Division of labour The more people specialize, the more efficiently they can perform their work. b) Authority and responsibility Managers need to be able to give orders so they can get things done. While their formal authority gives them the right to command, managers will not always compel obedience unless they have personal authority such as intelligence) as well. c) Discipline: Members in an organization need to respect the rules and agreements that govern the organization. To Fayol, discipline will result from good leadership, fair agreements, and judiciously enforced penalties for infractions at all level of the organization. e) Unity of command Each employee must receive his or her instructions about a particular operation from only one superior. Fayol believed that if an employee was responsible to more than one superior, conflict in instructions and confusion of authority would result. f) Subordination of individual interest to the common good: In any undertaking, the interests of employees should not take precedence over the interests of the organization as a whole. g) Remuneration: Compensation for work done should be fair to both employees and employers. h) Centralization: Decreasing the role of subordinates in decision-making is centralization increasing their role is decentralization. Fayol believed that managers should retain final responsibility but also need to give their subordinates enough authority to do their jobs properly. The problem is to find the balance between centralization and decentralization in each case. i) The Hierarchy This is the line of authority in an organization. It is often represented by the neat boxes and lines of the organization chart. It runs in order of rank from top management to the lowest level of the enterprise. j) Download 3.37 Mb. Share with your friends:
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