Administrative Theory of Management

The video discusses Henri Fayol's contributions to management, focusing on his book 'The 14 Principles of Management' and the development of administrative management theory. This theory emphasizes the universal functions of managers across different types of organizations, such as non-profits, for-profits, and government entities. It also highlights the creation of work groups and functional departments, like marketing and human resources, using a top-down approach to enhance organizational efficiency.

What is considered a universal theory of management according to the text?

What approach does administrative management theory use to create organizational efficiency?