Question

Define Henry Fayol's administrative theory of management.

Answer 1

Henry Fayol (1841-1925) was a French mining engineer who turned a leading industrialist and a successful manager. He started his career as a mining engineer in a French mining company and rose to the position of the Chief Managing Director. After conducting many experiments and observations in organization, Fayol proposed 14 principles of management which are explained in his famous book 'General and Industrial Administration'. Due to his contribution in development of managerial thoughts he is called as 'Father of Modern Management'. Fayol suggested 14 principles of management. These statements serve as a guideline for decision-making and management actions.