According to Henri Fayol, the Five Rules of Management Are

question 18

Multiple Choice

According to Henri Fayol, the five rules of management are:

• A) centralisation, stability, initiative, communication and espirit de corps.
• B) authority, responsibility, discipline, remuneration and initiative.
• C) prediction, hypothesis, observation, experimentation and verification.
• D) foresight, organisation, command, coordination and control.
• E) standardisation, centralisation, negative entropy, communication and homeostasis.

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Definitions:

Profit Margin

A financial metric used to assess a company's profitability by comparing net income to sales.

Fair Market Value

An estimate of the market value of a property or asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller.

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Orally Agree

To come to a mutual decision or arrangement through spoken words rather than written documents.