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Fayol Henri

Definition of "Fayol, henri"

French industrialist whose thesis is that all business activities revolve around six areas: technical (production), commercial (buying and selling), financing (capital employment), accounting (financial record keeping), managerial (planning, organizing, directing, coordinating, controlling), and security (protection of property against loss and the physical safety of individuals). Fayol's view of security has become the risk management of modern business.

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