Critically discuss the extent to which Fayol's classic analysis of the Essay

Critically discuss the extent to which Fayol's classic analysis of the management function has largely been made redundant by - Essay Example With the advent of globalization and continuous advancement in technology, it can be viewed that the way business operated decades ago has radically changed. Many critics around the world are developing new theories that are providing much better ways than the theories that were propounded by managerial theorist in the past. It is believed that today’s managerial theories comparatively provide much detailed analysis and suggestions that can help a business in present highly competitive world. Among all Fayolism is a management theory that was developed by the famous French management theorist Henri Fayol. It is believed that though the theorist work as a guideline for administrators the theory contributed and highlights the practises that would be implemented while managing an organization (Wren, & et. al., 2002). The major purpose of this essay is to discuss the extent to which Fayol’s classic analysis of the management function has largely been made redundant by the m ore recent empirical studies of what managers actually do, such as that favoured by Mintzberg. Discussion Management theories are considered to be a vital part of every business association in today’s competitive commercial environment that serve as a road map and standards for accomplishing their broad objectives. It not only provides a blueprint on how business should be operated but also helps in proper management of resources and in formation of measurable aims and objectives for the business organisation. Henri Fayol is considered to be a pioneer in the field of management theories. With Fayol’s work viz. General and Industrial Management, Fayol was considered amongst the best management theorist in the past. However, with the passing time it can be viewed that many experts were largely convinced with the theory propagated by Fayol while some criticised it on certain ground. Among them the contemporary theory propagated by Henry Mintzberg has been largely been com pared with Fayol’s management theory which has resulted in raising question regarding the applicability and acceptability of Fayol’s classic analysis of the management function. The Different Perspectives on Management Taken by Fayol and Mintzberg Description on Fayol’s Work Henri Fayol generally known as the father of administrative management is considered to be amongst the first management theorist that provided business organizations standard way of managing their business effectively that would help them to achieve their goals and objectives smoothly. According to Fayol, all industrial organization consists of six different group of activities including technical which mainly focused on production, manufacture and adaption; commercial which consists of buying, selling and exchanging; financial which concentrated on searching for chances that would help in optimum utilization of resources; security which mainly focused on protecting property and persons; acc ounting which main task was to maintain stock captivating, balance sheets and cost statistics and managerial