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industrial revolution
The Industrial Revolution refers to the period during which a country develops an industrial economy. -
captains of industry
These captains of industry included John D. Rockefeller, James Duke and Andrew Carnegie -
creation of monopolies
A monopoly occurs when one party maintains total control over a type of industry. -
The Interstate Commerce Act
Congress passed the Interstate Commerce Act, the first major piece of regulatory of legislation. -
The Sherman Act
This act made it illegal for companies to create monopolies. -
Applying Maslow's Theory to Management
Maslow's hierarchy of needs has important implications for business managers. -
Abraham H. Maslow and the Hierarchy of Needs
Abraham had important ideas about management. He developed a theory of motivation. His ideas had a significant impact on management. -
The Hawthorne Studies of Productivity
Researchers began to look at the relationship between working conditions and productivity. -
Theory X and Theory Y
Professor Douglas McGregor identified 2 types of management styles. THeory X- assumes that people are basically lazy and will avoid working if they can. Theory Y- assumes that people find satisfaction in their work. -
Theory Z
William Ouchi was a management researcher who developed Theory Z. Theory Z incorporates the Japanese emphasis on collective decision making.