Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.
The relevance of Taylor and Fayol’s contribution in the contemporary business environment are:
a. Both Fayol and Taylor focused on maximising the efficiency.
b. Both suggested division of work and specialization.
c. The principles of both of them are used as a basis for research in the field of management studies.
d. Both insisted on cooperation among the managers and workers.
e. Both gave more importance to organizational interest over the individual’s interest.