Fayolism was a theory of management that analyzed and synthesized the role of management in organizations, developed around 1900 by the French management theorist Henri Fayol (1841–1925). It was through Fayol's work as a philosopher of administration that he contributed most widely to the theory and practice of organizational management. Fayol developed theory of management. According to him managerial excellence is a technically ability and can be acquired. He developed theories and principles of management which are universally accepted and make him unrealistic. He was pioneer of the formal education in management. Fayol’s principles of management meet the requirements of modern management.
14 principles; Management; foylism; administrative theory; today’s impact; business.