Abstract
Early last century, for industrially‐developing economies, Fayol offered 14 principles of management aimed to help managers ascertain what to do to manage more effectively. Currently, service‐based and high‐tech industries are becoming dominant in some economies, such as the United States. Many organizations in these industries interpret the principles quite differently from the way they were interpreted in Fayol’s time. The differences and the cultural challenges managers face in implementing this new framework are presented.
Subject
Management Science and Operations Research,General Business, Management and Accounting
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