Henri Fayol is considered the father of modern management. In 1916, he wrote a book outlining 14 principles of management that are still widely used today. The principles include division of work, authority and responsibility, discipline, unity of command, subordination of individual interests, remuneration, centralization, scalar chain, order, equity, stability of tenure, initiative, and esprit de corps. The document provides definitions and explanations of each of Fayol's 14 principles of management.