The POSDCORB formula (Planning, Organizing, Staffing, Directing, Coordinating, Reporting, and Budgeting) was developed by Luther Gulick and Lyndall Urwick in 1937 as a framework for public administration. While Henry Fayol developed management principles, the specific POSDCORB acronym and formulation came from Gulick and Urwick's work with the Brownlow Committee.