Henri Fayol proposed 14 principles of management that are still relevant today. Some of the key principles include division of work, where specialization allows employees to gain expertise; unity of command, where each employee has one clear reporting manager; and initiative, where managers should allow employees to show initiative. Peter Drucker later expanded on this work by proposing management by objectives, where managers set clear objectives across key areas like marketing, innovation, and productivity. Objectives should be specific, measurable, achievable, realistic and time-bound. Together, Fayol and Drucker laid important groundwork for modern management practices.

1. Henri Fayol’s 14 Principles Of Management

18. Peter Drucker’s Management By Objectives