Abstract：Management field has made great progress in theoretical construction and academic arguments, ever since the year of 1911. During the last decades, various kinds of theoretical perspectives and schools came to birth. However, in celebration of the 100th birthday (1916~2016) of general management theory, this article focuses on its birth, development, modern value and implications for future study. Based on the review of Fayol thoughts, the article comments the ideas and opinions of management process school, which was built by Fayol. In the end, the article illustrates the theoretical implications of general management theory for Chinese indigenous theory building research, and makes several prospects for future study.