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Early Life and Background

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Early Life and Background [14] Henri Fayol was born on the 29 July 1841, in Istanbul. His father was an engineer and the whole family relocated to France in 1847.  Afte r studying in an academy in Saint-Etienne, Fayol became a French mining engineer and he went on to develop one of the most important concepts in modern management. In 1888, Fayol was promoted to managing director of the mining company where he worked.  Under his watch, the struggling company prospered and became one of the most successful steel and iron manufacturers in France.  Fayol spent thirty years working in this position, earning huge respect and admiration. He died at 84 years old on November 19, 1925.
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Authority

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Authority [2] Managers must possess the authority to give orders, and recognize that with authority comes responsibility. As well as rank, Fayol argues that a manager's intelligence, experience and values should command respect. We see this principle everywhere in today’s world with the use of job titles such as CEO and COO etc. This helps employees understand their position in the hierarchy who they should report to in this line of command. Furthermore, just like Fayol stated, these roles come with certain authorities and responsibilities such as decision-making, conflict resolution, performance appraisals and enforcing company rules and policies. Kishi
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Stability of Tenure of Personnel

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Stability of Tenure of Personnel [11] Henri Fayol's principle, "Stability of Tenure of Personnel," advocates for keeping employees in an organisation for extended periods. This principle emphasises numerous advantages:  - Long-tenured employees accrue expertise and specialised knowledge which benefit  company operations and growth. - It reduces costs associated with turnover, such as hiring and training expenses.  - Employees feeling secure in their positions are more motivated, leading to higher job   satisfaction and morale. - Reduced turnover enhances team cohesion, which, in the long term, improves efficiency  and productivity. Fayol warned that constant personnel turnover disrupts organisational  functioning, hinders productivity, and incurs additional costs. However, modern workplaces require a balance between stability and adaptability to accommodate changing business needs and technological advancements. While Fayol's principle remains rele...
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