Chris Randert, the CEO of Randert Printing Company, remarked in a recent speech that specialization of labor will be necessary for his company's success. Which of Henry Fayol's principles of management was he referring to?

A) Unity of command
B) Division of Work
C) Unity of direction
D) Scalar chain
E) Authority

Henry Fayol

A French engineer and management theorist best known for developing a general theory of business administration and identifying 14 principles of management.

Specialization of Labor

The division of work into specific tasks, with each worker focusing on a particular task to increase efficiency and expertise.

Principles of Management

These are fundamental guidelines that outline effective management practices to run organizations efficiently and achieve organizational goals.