The given statement is correct. Henri Fayol's principles of management are still relevant today and are widely used in organizations. These principles include division of work, authority and responsibility, discipline, unity of command, unity of direction, subordination of individual interest to the general interest, remuneration, centralization, scalar chain, order, equity, stability of tenure of personnel, initiative, and esprit de corps. These principles provide a framework for effective management and can help organizations achieve their goals and objectives.