Explain 14 principles of management by Fayol.

Henery Fayol (1841-1925) was a french mining engineer. He developed a general theory of business administration. He proposed the five primary functions of management: planning, organizing, controlling, directing, and coordination.

• Fayol's 14 principles of management

1. Division of work: in the management process produces increased and improved performance
2. Authority and responsibility: authority refers to the power to give the commands to the subordinates and responsibilities refers to be responsible for the effects of decision taken or activities performed by a manager
3. Discipline: is necessary for smooth functioning of a business
4. Unity of command: every employee should receive commands from only one superior
5. Unity of direction:complete congruence between individual and organizational goals
6. Subordination of individual interest to general interest
7. Remuneration: should be fair and with no discrimination
8. Centralization: concentration of decision making power at the top level management
9. Scalar chain: communication should pass through proper channel. 
10. Order: right place for everything and for every man
11. Equity: all persons in the organization should be treated equally and there should not be nay discrimination on the basis of caste, creed, color and sex.
12. Stability of tenure of personnel
13. Initiative: employees should be given freedom to do something new
14. Espirit de' corps: team spirit, motto of divide and rule should be avoided and verbal communication should be used to remove misunderstanding