Henry Fayol, a French Industrialist gave a very influential contribution to the management business manages under his 14 Principles of Management. Fayol became Director of a mining  company in 1888 and developed these Principles with his experience of taking a company from difficult times to profit earning.

When he retired, Fayol gave these 14 Principles and prescribed that every manager should follow these principles in order to run the company smoothly. Here they are:

Fayol's Principles of Management

1. Division of Work: The workers/employees will be more effective if they are given a limited set of activities. Work overload will make them exhaust and reduce their functionality.
2. Authority: Managers should be given some sort of authority over their work units so that they can take decisions at their end too. However, along with the authority comes responsibility also.
3. Discipline: The work units and personnel should obey the rules and regulations of the company in order to achieve the organizational goals and run the company smoothly. The workers can be penalize if found violating the norms.
4. Unity of Command: All the managers should lead their own departments and that their work units should receive orders from their respective managers only. It would be very effective if the Directors and Departmental Heads should contact with the Team members only and not the individual team members.
5. Unity of Direction: Each department and team should have their unique plan and should have only one manager/boss for better coordination.
6. Subordination of Individual Interest over general interest: Individual interest of employees should not be taken over the general interest of the company. The company interest is supreme and should not be compromised for the interest of individual.
7. Remuneration: Workers and employees should be paid fairly to avoid dissatisfaction of services.
8. Centralization: Centralization means involvement in the Decision Making activities of the company and effective planning. Fayol has proposed that the structure of the organization should be either centralized or decentralized depending on the conditions and the Decision Making activities should be limited to the directors and the departmental heads only.
9. Scalar Chain: Hierarchy is necessary in every organization and that it is required for Unity of Command and Unity of Direction.Organization in proper hierarchy ensures proper flow of authority, plans and policies.
10. Order: Here comes the Organizing Function of Management which ensures that the personnel and resources should be available in the right place when required. 
11. Equity: Managers should treat their work units with kindness and that the operations should be unbiased and fair.
12. Stability of Tenure of Personnel: The management should ensure that the tenure of the employees in the company should be long enough and that the turnover rate should be low. This include motivational activities and proper Remuneration of services.
13. Initiative: Employees should be allowed to create plans on their own to achieve their goals and targets effectively. Planning here means short term plans required to carry out a specific task. This generates confidence in the employees and encourages them to work hard.
14. Esprit de Corps: There should be harmony and kindness between the departments in the organization.