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In 1890, the Sherman Antitrust Act
Sherman Antitrust Act was named after the U.S. Senator John Sherman of Ohio, a specialist of regulation on commerce. The Sherman Antitrust Act was the first legislation in the United States Congress to eliminate interference with trade and economic competition by removing concentrations of power.
(“Sherman,” 2014) -
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The Managment Theories and Laws
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General and Industrial Management
Henri Fayol’s General and Industrial Management first appearance was traced back to 1900, when he delivered a speech at a mining conference. By 1925, 15,000 copies of Fayol’s General and Industrial Management were printed.
(“Fayol,” 2003) -
US Steel Corporation
US Steel Corporation was the first billion-dollar corporation created by joining together eight main competitors in the industry. Created by Andrew Carnegie this company would help lead America into a new age.
(“Black,” 2010) -
Ford Motor Company
Henry Ford’s first car was assembled at the Mack Avenue plant in July 1903. By 1908, the Model T was introduced. Ford begin to developed new mass-production methods in order to satisfy customer demand for the Model T.
(“Ford,” 2014) -
Work, Wages and Profits
Gantt would further develop scientific management for the common good of both worker and employer. For his work in his field, the American Society of Mechanical Engineers and the Institute of Management jointly established the annual award of the Henry Laurence Gantt Gold Medal for distinguished achievement in industrial management in 1929. The first award was made, posthumously, to Gantt himself.
(“Gantt,” 2006) -
The fragmention of Standard Oil Company and Trust
The Ohio Supreme Court ordered the Standard Oil Company and Trust to be dissolved in 1892, but it continued to operate from its new headquarters in New York and later New Jersey. However, thanks to Ida Tarbell’s History of the Standard Oil Company (1904), the U.S. government brought an antitrust suit against the Standard Oil Company and Trust. The Standard Oil Company and Trust would be broken up in 1911.
(“Standard,” 2014) -
The Principles of Scientific Management
Taylor’s theory was about having the management of a factory find the best approach for the worker to do the job, give incentives for good performance, and to have proper tools and training for their workers. Taylor was notorious for using a stopwatch to monitor the workers; by stopping unnecessary motion, the worker, became far more productive
(“Taylorism,” 2014) -
The Psychology of Management
When Lillian Gilbreth got her Ph.D. from Brown University in 1915, her dissertation, “The Psychology of Management,” became a classic in its field. Later in 1919, the whole family became test subjects for efficiency studies, including her husband and dozen children. The family's unusual lifestyle and research methods became famous books, with one entitled Cheaper by the Dozen (1949).
(“Walling,” 2004) -
Creative Experience (1924)
Mary Parker Follett’s Creative Experience (1924) challenged the biggest management theory of its day, the Scientific Management theory. Follett’s work would have a direct impact on creation of the human relations school, and influence management thinking today.
(“Follett,” 2006) -
The Hawthorne Studies
A series of research studies was funded by the Western Electric Company at its Hawthorne plant in Chicago from 1924 to 1932. Theses series of research studies would discover the Hawthorne effect, defined as the tendency under conditions of observation for worker productivity to steadily increase.
(“Ballantyne,” 2001) -
national labor relations act of 1935 (wagner act)
The National Labor Relations Act of 1935 was named after Robert Ferdinand Wagner I. The Act’s was created to help give people “the right to self-organization, to form, join, or assist labor organizations, to bargain collectively through representatives of their own choosing, and to engage in concerted activities for the purpose of collective bargaining or other mutual aid and protection.”
(“National,” 2009) -
Fair Labor Standards Act of 1938
The Fair labor standards act of 1938 was created to protect workers by prohibiting child labor, creating a minimum wage, and overtime pay requirements. (Cheeseman, 2012, p.755) -
Food, Drug and Cosmetic Act
The Food, Drug, and Cosmetic Act regulates testing, manufacture, distribution, and sale of foods, dugs, cosmetics, and medicinal products.
(Cheeseman, 2012, p.727) -
The Theory of Social and Economic Organization
The Theory of Social and Economic Organization by Weber max outlined the ‘structure of authority’ around seven points. These points may lack to today’s standards; however, these seven points were a starting point.
(“Weber,” 2003) -
The Human Side of Enterprise
Douglas McGregor devised an idea called Theory X and Theory Y in his 1960 book The Human Side of Enterprise. His idea would form a distinction between management styles and become a subsequent writing subject. (“Mcgregor,” 2003) -
Title VII of the Civil Rights Act of 1964
Title VII prohibits discrimination in hiring, decisions regarding promotion or demotion, payment of compensation and fringe benefits, availability of job training and apprenticeship opportunities, referral systems for employment, decisions regarding dismissal, work rules, and any other "term, condition, or privilege" of employment.
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Berkshire Hathaway
Warren Buffett took control of the textile manufacturer Berkshire Hathaway Inc. in 1965. Berkshire Hathaway’s stock averages would rise about 28 percent annually in the 1990s, the major stock average in this time was about 11 percent. Berkshire Hathaway Inc. would make Warren Buffett one of the wealthiest people in the world.
(“Warren,” 2014) -
Clean Air Act
The national ambient air quality standards was established by the clean air act of 1977, which limit the amounts of pollutants an industrial or commercial facility can discharge into the atmosphere.
(Gates & Blauvelt, 2011, p.231-32) -
Environmental Protection Agency
The EPA is a powerful agency with rule-making powers to adopt regulations to advance the laws that it is empowered to administer. The adjudicative powers the EPA has is to hold hearing, make decisions, and order remedies for violations of federal environmental laws. Also, the EPA can initiate judicial proceedings in court against suspected violators.
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Consumer Product Safety Commission (CPSC)
The Consumer Product Safety Commission has powers to (1) adopt rules and regulations to interpret and enforce the CPSA, (2) conduct research on the safety of consumer products, and (3) collect data regarding injuries caused by consumer products.
(Cheeseman, 2012, p.729) -
Clean Water Act
The Clean Water Act’s purpose is to make every water body in the United States "fishable and swimmable." In its longer term, the Act seeks to restore and maintain the chemical, physical, and biological integrity of the nation's water.
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Apple Inc. (Apple)
Apple Inc. manufactures, designs, and markets a many products and services. Some of the notable products include the Mac, iPhone, and iPad. This distinguished company is usually on the cutting edge and is driving the industry forward.
(“Apple,” 2014) -
In Search of Excellence
Thomas J. Peters and Robert H. Waterman’s In Search of Excellence is a popular management book of recent times. By simplifying management into key points with advice from the best companies in the world, In Search of Excellence gave new heart to American businesses. (Waterman, 2009) -
Microsoft Corporation
Microsoft Corporation develops, license, and supports software and hardware products and services. This company is one of the few to be compared to Steve Job’s Apple Inc. success. Microsoft Corporation is pushing forward a new age in technology and service.
(“Microsoft,” 2014) -
Dodd-Frank Wall Street Reform and Consumer Protection Act
This Act gives the federal government new powers to help regulate lending and finance. The goal of this Act is to make credit terms easier and clearer for consumers to understand, to extinguish abusive credit practices by lenders, and to inform consumers about the risks of credit pracitces.
(Cheeseman, 2012, p.725)
