This code is indispensable. Be it a case of commerce, industry, politics, religion, war or philanthropy in every concern there is a management functi… - Henri Fayol

The meaning that I have given to the word administration and which has been generally adopted, broadens considerably the field of administrative science. It embraces not only the public service but enterprises of every size and description, of every form and every purpose. All undertakings require planning, organization, command, co-ordination and control, and in order to function properly, all must observe the same general principles. We are no longer confronted with several administrative sciences but with one alone, which can be applied equally well to public and to private affairs and whose principal elements are today summarized in what we term the Administrative Theory.

Management plays a very important part in the government of undertakings: of all undertakings, large or small, industrial, commercial, political, religious or other. I intend to set forth my ideas here on the way in which that part should be played.

# satisfying shareholders and employees; labor and management.