Henry Fayol's Principles Of Management

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determine why managers are really needed in organisations. One of the very first and probably one of the most quoted classical writers is Henry Fayol. He basically tried to analyse activities within industrial organisations into 6 groups: technical – production, manufacture, etc.; commercial – buying, selling; financial raising and using capital; security – protection of property and people; accounting- stocktaking, balance sheets, statistics; and last but not least managerial.
By tackling the task of analysing managerial activity, he divided managerial activity into 5 elements of management. They basically represent the answer to the question „What has a manager to do?“ They are defined as: to forecast and plan, to organise, to command, to co-ordinate, and to control.
Fayol describes these elements as follows: to forecast and plan- examining the future, setting up objectives and developing a plan of necessary actions that must be undertaken in order to achieve these goals. To ...

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