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Frederick Taylor decides to time each and every worker at the Midvale Steel Company. He also starts making decisions off true performance rather than natural experience.
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Henri Fayol was one of the most influential contributors to modern concepts of management, having proposed that there are five primary functions of management: Planning, Organization, Commanding, Coordinating, Control
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In the early 20th century, people like Ordway Tead, Walter Scott and J. Mooney applied the principles of psychology to management.
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Created a production line that made cars faster than ever before. It also was the cheapest way to make cars. Its was created with the thought of having employees do the same job on each car which made them very productive.
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The Harvard Business School offered the first Master of Business Administration degree (MBA) in 1921.
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The behavioral sciences played a strong role in helping to understand the needs of workers and how the needs of the organization and its workers could be better aligned.
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Elton Mayo becomes the first to question the behavioral assumptions of scientific management. The studies concluded that human factors were often more important than physical conditions in motivating employees to greater productivity.
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Establishes a minimum wage for employees and a limited amount of hours worked each week.
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Weber focused on dividing organizations into hierarchies, establishing strong lines of authority and control. He suggested organizations develop comprehensive and detailed standard operating procedures for all routinized tasks.
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To give a name to his theory that 80% of the problems are caused by 20% of the operations. By focusing on the few vital operations first, a large number of the operational problems would be resolved.
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Kurt Lewin is best known for his work in the field of organization development and the study of group dynamics. His research discovered that learning is best facilitated when there is a conflict between immediate concrete experience and detached analysis within the individual.
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Maslow's management theory is illustrated by a pyramid, divided horizontally into 5 sections, each one representing one of the basic human needs that motivate our actions. The needs are, from most basic (base of the pyramid) to most fully realized (top of the pyramid) physiological, safety, social, ego and self-actualization needs. As lower level needs are met, the employee grows freer to focus on the higher motivational levels, such as pursuing status, recognition and excellence, as well as sel
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Companies were no longer allowed to pay women lower wages for the same jobs as men.
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A theory of motivation that focuses on people’s perceptions of the fairness of their work outcomes relative to their work inputs.
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Prevent discrimination between whites and blacks.
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A theory that has managers focus on identifying the types of goals that are most effective in producing high levels of motivation and performance and explaining why goals have these effects.
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Gilbert wrote that accomplishment specification is the only logical way to define performance requirements. Accomplishments are the best starting points for developing performance standards.
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The internet revolutionizes the business world by transforming communication abilities, information access and how we conduct business. It immediately expands the market into a global market.
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On December 11, 1995 a fire burned most of Malden Mills to the ground and put 3,000 people out of work. Most of the 3,000 thought they were out of work permanently. CEO Aaron Feuerstein says, “This is not the end” — he spent millions keeping all 3,000 employees on the payroll with full benefits for 3 months until he could get another factory up and running. Why? He answers, “The fundamental difference is that I consider our workers an asset, not an expense.”
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The act requires the CEO and CFO to assume responsibility for a company’s financial statements and significantly increases the requirements for the internal controls managers use.
