Final answer:
Frederick Taylor and Henri Fayol were the first pioneers of the serious study of management, both contributing foundational practices to the field.
Step-by-step explanation:
The first pioneers of the serious study of management are Frederick Taylor and Henri Fayol. Frederick W. Taylor, known for his significant contributions to the practice of scientific management, advocated the idea that the scientific study of production processes could improve efficiency by eliminating unnecessary steps and wasted motions. Henri Fayol, another prominent figure, developed theories on the administrative management approach which complemented the ideas of Taylor. These management professionals are renowned for creating the foundational practices in the field of modern management.