Elements Of Business Environment - Class 12 Page 3

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Project TWO: PRINCIPLES OF MANAGEMENT.
The students are required to visit any one of the following:
1) A departmental store.
2) An Industrial unit.
3) A fast food outlet.
4) Any other organization approved by the teacher.
They are required to observe the application of the general Principles of management
Advocated by Fayol.Fayol’s principles
1. Division of work.
2. Unity of command.
3. Unity of direction.
4. Scalar chain
5. Espirit de corpse
6. Fair remuneration to all.7. Order.
8. Equity.
9. Discipline
10. Subordination of individual interest to general interest.
11. Initiative.
12. Centralization and decentralization.
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