General administrative theory, also known as Fayolism, was developed at around the turn of the twentieth century by Frenchman Henri Fayol. His fourteen Principles of Management and five further Elements of Management are still influential to this day.
The main advantage of Fayol's system is that it works! It's odd to think that when Fayol first published his ideas, they caused quite some controversy, yet concepts like planning ahead, letting your employees know where they stand within the company, and nurturing an amenable working environment were not considered important, if they had been considered at all.
The disadvantages lay in the interpretation of Fayol's administration theory. One manager's idea of a good workplace will differ to another's, while planning can at times overtake the idea of consolidation as good business practice - if Fayol's ideas are taken to an extreme, planning can soon become seen as 'acceptable' risk-taking, and the state of the economy in the aftermath of the financial crisis tells you where that can lead.
To learn more about the pros and cons of general adminstration theory in detail, go to ukessays.com/essays/management or smallbusiness.chron.com, or read another Blurtit user's opinion at What Is The Advantage And Disadvantage Of Fayol Theory Of Administrative Management ?
You could also watch this You Tube film on Fayol's ideas: