6 activities of industry

 Technical
 Commercial
 Financial
 Security
 Accounting
 Managerial (Planning, organizing, command, coordination, and control)

5 managerial activities or functions

Planning: look ahead and chart a course
Organization: select and arrange people in the best way possible
Command: oversee, lead, and stay out of details
Coordination: harmonize and facilitate
Control: ensure compliance on accounting, finance, technical, and quality control

14 principles of management
1. Division of work: task specialization to increase productivity
2. Authority & responsibility: the right to give orders and exact obedience
3. Discipline: obedience, application, energy of the individual and warnings, fines, and
suspensions for enforcement
4. Unity of command: an employee should receive orders from one supervisor only
5. Unity of direction: one head and one plan for a group of activities having the same direction
6. Subordination of individual interest to general interest: the interests of any one employee or
group of employees should not take precedence over the interests of the organization as a
whole
7. Remuneration: pay should be fair and should reward well-directed effort
8. Centralization: establish the most effective balance between centralization and
decentralization
9. Scalar chain: must follow the ‘chain of superiors’ up to communicate across
10. Order: ‘the right man in the right place’ to form and effective social order
11. Equity: ‘desire for equity and equality of treatment’ of employees, a combination of
‘kindliness and justice’
12. Stability of tenure and personnel: management should provide orderly personnel planning
and ensure that replacements are available to fill vacancies
13. Initiative: should encourage and inspire the initiative of employees
14. Esprit de corps: seek to establish unity and harmony