Fayolism is the principle formulated by Henri Fayol.
Explanation:
Henri Fayol is the founder of the management school. The five points that Fayol described are planning , then organising, then co - ordination , then commanding and after that controlling. In his administrative theory he described division of work as well as division of labor, authority - the manager must have the power to give orders, another factor was discipline -employee shall always maintain the discipline in an organisation and follow all the orders that are given by the manager.
The main aim of the organisation shall be to earn profit. There shall be a cordial relationship between the manager and the employee.
