Fayol Crip Sheet.docx

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Department
Management
Course
MGM400H5
Professor
Multiple Professors
Semester
Fall

Description
FayolFayol suggests that all activities to which industrial undertakings give rise can be divded into the following groups1 Technical activities production manufacture adaptation2 Commercial activities buying selling exchange3 Financial activities search for and optimum use of capital4 Security activities protection of property and persons5 Accounting activities stocktaking balance sheet costs statistics6 Managerial activities planning organization command coordination controlManagerial activities are specially emphasized as being universal to organizations Definition of management as comprising 5 elements1 to forecast and planthe problems of planning which management must overcome aremaking sure that the objectives of each part of the organization are securely welded together unityusing both short and longterm forecasting continuitybeing able to adapt the plan in the light of changing circumstances flexibilityattempting accurately to predict courses of action precision2 to organizemust be unity of command and direction clear defn of responsibilities and precise decision making backed up by an efficient system AKA organize structure to achieve goals set in 13 to commandorganization must be put in motion4 to coordinatemaking sure one departments efforts are co
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