The fourteen management principles of Henri Fayol were examined in this study: division of labor, authority and responsibility, discipline, unity of command, unity of directions, subordination of individual interests to the general interest, remuneration, centralization, scalar chain, orders, equity, tenure stability, initiative, and esprit de corps. The primary goal of this research is to see if private banks in Bangladesh follow these principles. The essential data was gathered using both primary and secondary sources. The data was analyzed using descriptive statistics and a student t-test. It was underscored that management principles have specific attributes or characteristics that a manager should be aware of while using them in a range of settings to ensure seamless banking operations. It was also clear that the vast majority of the principles are applied, and that they are all statistically significant at a level of significance of 1%. In this study, it was also revealed that management was more concerned with controlling organizational disciplines than imposing remuneration and equity principles on their operations.The paper also makes some recommendations on how to properly implement these principles as well as research areas for the future.
Keywords: Henri Fayol,14thPrinciples, Management, PCBs, Implications.
31-Aug-2024
