Principles of Management • Class 12 Business Studies • NCERT • CBSE
Fayol's 14 Principles: Division of work, Authority and Responsibility, Discipline, Unity of Command, Unity of Direction, Subordination of Individual Interest, Remuneration, Centralisation, Scalar Chain, Order, Equity, Stability of Tenure, Initiative, Esprit de Corps. Taylor's Scientific Management: Science not rule of thumb, Harmony not discord, Cooperation, Maximum output, Development of each worker.
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