Henry Fayol and Modern Management Theory

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Role of Industrial Activities:

According to Fayol, industrial activities can be divided into:

1. Technical (Production)

2. Commercial (Trading)

3. Financial (Optimal capitalization)

4. Security (Protection of company's personnel and assets)

5. Accounting (Statistics)

6. Managerial (Planning, Organizing, Command, Coordination, and Control)

Fayol's Diagram of Industrial Activities:

Henry Fayol and Modern Management Theory

Additional Readings:

1. Functions of a Business Manager
2. Henry Fayol and Modern Management Theory
3. Modern Management Thoughts and McKinsey's 7-S framework
4. Industrial Planning
5. Management and Setting of Objectives
6. Principals of Organization
7. Matrix Organizations
8. Functions of the Human Resources and Accounting within an Organization
9. Differentiation between Motivation and Satisfaction
10. Barriers to Good Communication
11. Requirements of Effective Controls
12. Formal and Informal Organizations
13. Bonded Rationality

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