Frederick Taylors Management Theory Essay Example | Topics and Well Written Essays - 750 words

Frederick Taylors Management Theory - Essay Example This research is being carried out to look at the various criticism against the theory and concludes by a reflection on this theory and how it has impacted the field of management. This was among the first management theories that started the era of modern management. In the late nineteenth and early twentieth century, Taylor was decrying the awkward, inefficient or ill-directed movements of men at the place of work as a national loss. Taylor sought consistently to overthrow the â€Å"rule of the thumb† and replace this with actual timed observations leading what he termed as the one best practice. He advocated for the application of the scientific method in the management of workers because it improved productivity to a large extent. The scientific method he proposed called for the optimization of the way tasks were performed and the simplification of these tasks so that all workers could be trained to perform their specialized sequence of motions in the one â€Å"best† way. Taylor while working in the steel industry made some observations purposely operating below their capacity. This he termed as soldiering. Taylor saw this aspect as a result o f the following three causes: (1) The workers had a near universal belief that if they became more productive in their work, fewer of them would be required to perform jobs and therefore jobs would be eliminated; (2) The non-incentive wage systems encourage low productivity among the employees, if the employee will receive the same pay regardless of how much is produced. He observed that employees take great care not to work at a faster pace because of the fear that the pace will set a new standard; (3) workers are seen to waste much of their effort through the reliance on rule of the thumb methods instead of optimal work methods that could be determined by scientific study of the involved task.

International Business & Strategy Essay Example | Topics and Well Written Essays - 3000 words - 1

International Business & Strategy - Essay Example When starting a banking business, the investor should consider various factors related to the environment where the business is to be established. Factors such as political, economic, social, technological and legal aspects of a country have direct and indirect effects on the performance of the business. Denmark is the smallest Scandinavian country in the Northern Europe (The Local DK, 2014). It has a pollution of about 5,613,706 million people, and 93% of the populace are Danes while immigrants account for 7% (Pakarinen, 2012). There is no bureaucracy and bribery in Denmark hence this offers a stable business environment. It has good ethical framework and inflation policies (The Local DK, 2014). The country is politically stable (Pakarinen, 2012). Therefore, because government initiatives and fast growing economy it becomes apparent that opening a business provides the best chance for companies such as BBVA retail banking to enjoy government support. Small and medium enterprises SMEs) are the main forms of business characteristics in Denmark. It is active in foreign trade and supports liberal trade policy. It has a mixed economy. It has a relatively high-income rate, Gross National Income (GNI) per capita stands at $61,110 and has a budget surplus (The Local, DK, 2014). Therefore, such stable nation with a fast-growing economy has a high potential for running a business. The Danish economy is one of the most prosperous and stable across the entire world with studies suggesting that by 2017 it will be worth $353.1 billion with a Compound Annual Growth Rate (CAGR) of 1.9%. The Foreign direct investments account for about 2.5% of the GDP (The Local, DK, 2014). The government policies protect financial institutions such as ensuring careful lending, minimizing the aftermath of financial crisis through increasing government spending, tax cut, infrastructure