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Period: to
Management
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The Assembly Line
Henry Ford successfuly lowered the price of Model T to 825 dollars. It was such revolutionary that over 10,000 cars were sold, thanks to the birth of the assembly line which changed the landscape of production line. -
Taylorism: Scientific Management
- Achieve maximum job fragmentation to minimize skill requirements and job learning time.
- Separates execution of work from work-planning
- Separates direct labor from indirect labor
- Replaces rule of thumb productivity estimates with precise measurements, 5.Introduces time and motion study for optimum job performance, cost accounting, tool and work station design
- Makes possible payment-by-result method of wage determination
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Fayol's Principles
Henri Fayol came up with 14 principles to increase the effectiveness and efficiency of management process. Though he came up with the principles in the early 20th century, It is still considered to be a very powerful tool in management practices -
Prophet of Management
Mary Parker Follett has been called the woman who invented management. Her early influence on modern management theory has been so pervasive. The principles are
1. Conflict resolution through integration 2. Genuine power is not "coercive but coactive 3. True leaders create group power, rather than expressing personal power -
Bureaucratic Theory
Max Weber said that bureaucracy is the most efficient form of organization. The organization has a well-defined line of authority. It has clear rules and regulations which are strictly followed. Three types of power in an organization are as follows:
1. Traditional Power
2. Charistmatic Power
3. Bureaucratic Power or Legal Power
Madison, H. (n.d.). Management theories & concepts at the workplace. Retrieved from http://smallbusiness.chron.com/management-theories-concepts-workplace-17693.html -
The Hawthorne Studies
Elton Mayo becomes the first person to realize that there is also behavioural management and that there are not only physical hazards in the work place but also psychological factors as well -
Organization Development
Social scientist Kurt Lewin launches the Research Center for Group Dynamics at MIT. His theory was that learning and organization is best done when there is a conflict between different experiences in the work place and a set of goal to strive. -
Socio-technical Systems Theory
A group of researchers from London's Tavistock Institute of Human Relations, led by Eric Trist, studied a South Yorkshire coal mine in 1949. They realized that both technical aspects and social aspects to designing a job occupation. These were the results. Environment subsystem, social subsystem, technical subsystem and organizational design. -
Hierarchy of Needs
Maslow's hierarchy of needs theory is published in his book Motivation and Personality. This describes that employees should be motivated and become leaders and not be passive. -
Leadership Management
Drucker writes "The Practice of Management and introduces the 5 basic roles of managers. He says Organization structure must be delegated to make it a goal of the business world for five, then, fifteen years hence. -
Organization Development
Integrated approach, known as Organization Develeopment: the systematic application of behavioural science knowledge at various levels(group, intergroup, and total organization) to bring about planned change. -
Theory X and Theory Y
Douglas McGregor's Theory X and Theory Y principles influence the design and implementation of personnel policies and practices. -
Contingency Theory
Fiedlers theory is the earliest and most extensively researched. Fiedler’s approach departs from trait and behavioral models by asserting that group performance is contingent on the leader’s psychological orientation and on three contextual variables: group atmosphere, task structure, and leader’s power position. -
Management Grid
- Robert Blake and Jane Mouton develop a management model that conceptualizes management styles and relations.
- Their Grid uses two axes. "Concern for people" is plotted using the vertical axis and "Concern for task" is along the horizontal axis.
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Motivational Theory
Frederick Herzberg who is regarded as one of the great original thinkers in management and motivational theory came up with surveying system that is face-to-face than written questionaires. The absense of any serious challenge to Herzberg's theory continues to validate it. -
Model of National Culture
Hofstede developed the Model of National Culture. It takes a close look at 5 different aspects along which national cultures can be measured. -
Performance Technology
Engineering Worthy Performance. It describes the behavioural -engeering model, which becomes the bible of performance technology. The accomplishment specification is the only logical way to define performance requirements. -
Excellence
Tom Peters made a presentation that leads to "In Search of Excellence." which led to the birth of management guru business -
Five Forces
Michael Porter created ways to determine the competitive intensity. The five forces include supplier power, competitive rivalry, threat of substitution, buyer power, and threat of new entry. It is about what managers need to think ahead of possibilities and potentials. -
Supply Chain Management
The combination of art and science that goes into improving the way company finds the raw components it needs to make a product or service and deliver it to customers. Thomas, W. (n.d.). Supply chain management definition and solutions. Retrieved from http://www.cio.com/article/40940/Supply_Chain_Management_Definition_and_Solutions?page=6&taxonomyId=3207 -
Six Sigma
A set of strategies, techniques, and tools for process improvement. It was developed by Motorola. It became more known when Jack Welch made it central to his successful business strategy at General Electric in 1995. -
Chaos Theory
Chaos Theory sees that occasions are hardly ever controlled. As the title indicates, it's a theory that there are unmanageable factors which will is likely to be hard to master the implementation. -
Learning Organization
Peter Senge popularized the "Learning Organization" in the Fifth Discipline: The Art and Practice of the learning organization. He describes the organization as an organism with the capacity to enhance its capabilities and shape its own future. -
Ethics
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 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. His answer was "The fundamental difference is that I consider our workers an asset, not an expense." -
SWOT Analysis
SWOT Analysis is an important tool which allows managers to find what companies' strengths, weaknesses, opportunites and threats are.
