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Discuss the Relevance of Taylor and Fayol’S Contribution in the Contemporary Business Environment. - Business Studies

Answer in Brief

Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.

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Solution

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.

Concept: Fayol’s Principles of Management
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APPEARS IN

NCERT Class 12 Business Studies Part 1 - Principles and Functions of Management
Chapter 2 Principles of Management
Long Answer | Q 6 | Page 66
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