BUSI 321 GOLDEN CHAPTER 2

INDUSTRIAL REVOLUTION & CAPTAINS OF INDUSTRY►Power►Transportation►Communication►Rockefeller (oil)►Duke (tobacco)►Carnegie (steel)►Vanderbilt (steamships and

railroads)

BUSI 321 GOLDEN CHAPTER 2

SCIENTIFIC MANAGEMENT►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

HENRY FAYOL

►1900/1940►Tasks/Functions of

Management:

BUSI 321 GOLDEN CHAPTER 2

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

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

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

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

THEORY 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

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