What is Administrative Theory (Fayol’s 14 Principles) | From A Business Professor

When we talk about the foundations of management, one of the most influential thinkers is Henri Fayol, a French mining engineer and manager. In the early 20th century, he developed what is known as the Administrative Theory, which introduced a set of principles to guide managers in running organizations effectively. So, what is administrative theory? What are Fayol’s 14 principles of management? And why do they still matter today? In this video, I will discuss these questions with you.