Taylorism which is also known as scientific management was a theory of management that describes and integrates actions. The main goal of Taylorism is to provide the way of bettering the economy, especially in the field labor production. It was involved several steps of involving, resource allocation and development. It becomes Taylorism due to the name of Frederick W. Taylor in way back 20th century.
In Taylorism every task is divided into its component motions, and every motion is further divided into other motions. After this every motion is analyzed for max output.
Any critical theory of business management usually comes to from the functional units of an organization. The centralized mentality picks max efficiency, supervision and integration would result from a perfect command chain. These help to deconcentrate the model.
Structural functionalism is a combine theory of society and business management. Business is like a big picture which comes from the small pieces of organizations. Each of these small organizations, someone can call them departments which have a particular function. The task of the general manager is to bring all the departments in the main picture of the organizational process.
Like Taylorism is the classical model of Gulickism, known as Luther Gulick, after the famous Taylor Gulick's model, like Taylorism. It also seeks the method of breaking down the nature of the labor. The 4 steps of Gulickism define how it is done. At the First step, the task is defined briefly. At the 2nd step, administrator is placed for supervision. At the third step, all the inputs are analyzed in clearly manner, how the resources and the materials will be utilized and how they will become the effective assets of the organization.
At the final step, the employer and supervisor of floor are combined into the whole command structure. In here authority and the structure are key elements.
- Debt ratios
- Liquidity ratios
- Profitability ratios
- Asset management ratios
- Cash Flow Indicator Ratios
- Market value ratios
- Financial analysis
- Business Terms
- Financial education
- International Financial Reporting Standards (EU)
- IFRS Interpretations (EU)
- Financial software
Most WantedFinancial Terms
- Most Important Financial Ratios
- Debt-to-Equity Ratio
- Financial Leverage
- Current Ratio
- Interest Coverage Ratio (ICR)
- Solvency Ratio
- Break-even Point
- Debt Service Coverage Ratio
- Receivable Turnover Ratio
- Return On Capital Employed (ROCE)
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