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Agrarian Society
A society in which most people were farmers and had no need for managers. Also, focused on getting food on the table and staying financially well. -
Industral Revolution
The change from an agrarian to handicraft society and when managers became a major job in the economy. -
Scientific Management
Developed by Fredrick Taylor, put the managers in charge of the employees, how much employees are paid is determined by their productivity, and each task was broken down into specific parts. -
Sherman Anti-Trust Act
It was passed to prevent monopolies (businesses that control all of one type of commerce usually run by one leader) from using their power to gain an advantage in any type of commerce. -
Maslow's Hierarchy of Needs
Abraham Maslow hypothesized that people are motivated by five needs: Physiological, Safety, Love and Belonging, Esteem, and Self-actualization. -
Theory X and Theory Y
They were hypothesized by Douglas McGregor. Theory X says that employees are unmotivated, lazy, are motivated by money, not creative, and avoid responsibility. Theory Y says that employees are motivated, hardworking, creative, and seek responsibility. -
Theory Z
Theory Z is a management style based on the balancing act of work-life and home life. Often means managers worry about home life as well as work-life because the employee's home life directly affects their work-life specific their productivity. -
Contingency Management Theory
Austrian psychologist Fred Edward Fiedler first introduced the theory in 1964. This theory's base premise is there's no one best way to run a business. The reason for that is there are lots of internal and external factors that affect how a business should be run. This allows for changes in how a business is run in order to reach a goal based on the current situation. -
Learning Management System
(LMS) is a software application that tracks can track anything (depending on who made the software) from deliveries, company spending, client spending (revenue), to employee productivity and training quality and then adapts to increase productivity and to give employees better training. -
Laissez-Faire Management becomes Popular in U.S
Its creation is credited to Kurt Lewin, an American-German psychologist during the 1930s. Laissez-Faire loosely translates to "Leave it". This management style is based on the trust between a manager and his employees. Usually, Mangers let employees use creativity, experience, and resources to reach company goals. Also, managers don't get involved too much with their employee's work but will give guidance from time to time. Also, managers will take responsibility for employees from time to time.
