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14 Principles of Management

Definition: 14 Principles of Management is a set of general management principles as summarized by Henri Fayol in 1916:
1. Division of Work
2. Authority
3. Discipline
4. Unity of Command
5. Unity of Direction
6. Subordination of Individual Interest
7. Remuneration
8. Centralization (or Decentralization)
9. Scalar Chain (Line of Authority)
10. Order
11. Equity
12. Stability of Tenure of Personnel
13. Initiative
14. Team Spirit (Esprit de Corps)

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