The first writer to formally introduce the concept of management and its principles was Henry Fayol. Generations have benefited from the deep insight and expert knowledge of its management elements and principles. However, rapid social, political, technological and economic developments have sparked a debate in intellectual circles concerned with management over the applicability of his theory in the present times and many have begun to declare his theory as outdated and outdated. This report focuses primarily on this ongoing debate. While shedding light on the life of this great engineer-manager, it would provide an overview of his management theories and the historical evolution of management as a social science. Finally, apart from the challenges facing management in the 21st century, this report would also attempt to argue for the applicability of its theory in today's times. Henry Fayol, the man considered the true father of strategic management, was born in 1841 in Constantinople (today Istanbul, Türkiye). His father was an engineer overseeing military projects under an agreement between France and Turkey. After his retirement, he returned to France with his family and settled in La Voulte where Henry received his primary education. He then entered the Polytechnic School of Valence and graduated from the Imperial High School in 1860. Following in his father's footsteps, he was admitted at the age of seventeen to the National School of Mines in Saint Etienne to become a mining engineer. After graduating in 1860, he began his professional career in the Commentry coalfield in central France, and worked there as an engineer for six consecutive years. Due to his technical experience...... middle of paper ...... many current leading organizations. The principles of fairness, initiative and fair remuneration are still revered by modern management. Additionally, the scalar chain principle can purge modern management of the ills created by lack of effective communication. Henry Fayol's contribution to modern management cannot be undermined. His management theory lays the foundation of administrative management and provides a thorough and competent insight into the art of management. Current conditions do not suggest that his theory has become completely odious. Most of his theory is still applicable, including his five elements of management. As it is said that nothing is permanent except change, his management theory can always be applied to modern management by incorporating minor changes in accordance with today's needs..