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INDUSTRIAL REVOLUTION & CAPTAINS OF INDUSTRY

INDUSTRIAL REVOLUTION & CAPTAINS OF INDUSTRY. Power Transportation Communication Rockefeller (oil) Duke (tobacco) Carnegie (steel) Vanderbilt (steamships and railroads). SCIENTIFIC MANAGEMENT. FREDDY!. Frederick Taylor Soldiering

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INDUSTRIAL REVOLUTION & CAPTAINS OF INDUSTRY

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  1. INDUSTRIAL REVOLUTION & CAPTAINS OF INDUSTRY • Power • Transportation • Communication • Rockefeller (oil) • Duke (tobacco) • Carnegie (steel) • Vanderbilt (steamships and railroads) BUSI 321 GOLDEN CHAPTER 2

  2. SCIENTIFIC MANAGEMENT FREDDY! • Frederick Taylor • Soldiering • Scientifically study work methods and establishing standards • Design jobs • Selection and progressive development of employees • Bring together employees and designed jobs • Division of work resulting in interdependence between management and workers BUSI 321 GOLDEN CHAPTER 2

  3. HENRY FAYOL • 1900/1940 • Tasks/Functions of Management: P O S L C !!! BUSI 321 GOLDEN CHAPTER 2

  4. HISTORICAL ESSENTIALS • Period of solidification: Around 1920-1930 management recognized as a discipline. • The Human Relations Thrust: 1929-1932: Emphasis on understanding employees and their needs. • Hawthorne Studies: Experiments with interesting and unexpected results. BUSI 321 GOLDEN CHAPTER 2

  5. CHANGING STYLES: Lincoln Electric • Advisory Board of Employees • Piece-rate • Employee ownership of stock • Bonuses, vacations, suggestion system, life insurance, pension, etc. BUSI 321 GOLDEN CHAPTER 2

  6. CHANGING STYLES • Bottom-Up: Delegation of authority to solicit participation from employees. • Process Approach: P, O, S, L, C! • Systems Approach: “Integrated Whole.” • Contingency Approach: Theorizes that different situations and conditions require different management approaches. BUSI 321 GOLDEN CHAPTER 2

  7. MANAGEMENT THEORY JUNGLE • Term developed referring to the division of thought that resulted from the multiple approaches to studying the management process. BUSI 321 GOLDEN CHAPTER 2

  8. THEORY Z Z • Integrates/meshes American and Japanese management practices. • “best of both worlds” • Combine American emphasis on individual responsibility with Japanese emphasis on collective decision making, slow evaluation and promotion, and holistic concern for employees. BUSI 321 GOLDEN CHAPTER 2

  9. SEARCH FOR EXCELLENCE! • Bias for action • Close to customer • Autonomy and entrepreneurship • Productivity through people • Hands on; value driven • Stick to the knitting • Simple form; lean staff • Simultaneous loose-tight properties BUSI 321 GOLDEN CHAPTER 2

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