History of Business

In: Business and Management

Submitted By matthewl
Words 1474
Pages 6
History of Management

• People have been working with other people since the beginning of time. As a result of this, there are several theories in the study of management.

• The main schools of management thought include:

1. Classical Management (developing universal principles for use in management situations) 2. Behavioural Management (human needs, workgroup, societal factors) 3. Quantitative Management (using math techniques to solve problems) 4. Modern Approach to Management (systems, contingency plans)

1. Classical Management Approach • Classic management approaches include scientific management, administrative principles and bureaucratic organizations. • The basic assumption of classical management approaches is that people are rational. This theory assumes that people will rationally consider the opportunities available to them and do whatever is necessary to maximize their economic gain. • Frederick Taylor is known as the “Father of Scientific Management” He advocated the four principles of scientific management: a. Develop a science for every job, including rules of motion, standardized work implements, and proper working conditions. b. Carefully select workers with the right abilities for the job c. Carefully train workers and provide proper incentives d. Support workers by carefully planning their work and by smoothing the way as they go about their jobs

• Frank and Lillian Gilbreth expanded on scientific management and produced motion study ' the science of reducing a job or task to its basic physical motions. Wasted motions are eliminated to improve performance. (Bricklayers, UPS) \

The first person to come up with administrative principles based on classical management was Henri Fayol.

• Fayol was a French executive who…...

Similar Documents

History

...well established company with global operations. Furthermore, it has a stable revenue history that has had an extraordinary amount of consecutive growth. Additionally, Hertz has built a great deal of brand equity worldwide; especially in regards to the airport services they provide. All of this makes Hertz an ideal candidate for a leveraged buyout. The interesting aspect to this case is how the dual-track process was structured. Ford must have known that their subsidiary would have been a prime target for a leveraged buyout and gained enough confidence to put the pressure of the IPO option as an incentive for potential investors to move quickly. However, even if no investors emerged to acquire Hertz, it is also reasonable to suspect that Hertz would have fared well in the IPO. Yet, in the event that Hertz was sold through an IPO, there is a substantial amount of risk involved. Ford would have been subjected to whatever the market deemed the appropriate price for the stock was. Therefore, from their perspective, they had to juggle potential LBO offers with their prediction of what the company would have commanded in the marketplace. Hertz was a prime buyout target for a LBO because the company meets many of the classic criteria for a successful LBO target. It has an extremely strong brand name which consumer markets all over the world have come to know. It was actually listed among Business Week’s top 100 most valuable brands in 2005. Additionally it is one of the top three......

Words: 2173 - Pages: 9

History

...Background/History of Starbucks Coffee Starbucks Coffee is an American global coffee company and coffeehouse chain that based in Seattle, Washington, U.S.A... Starbucks Coffee is the largest coffeehouse company in the world, with 20,890 stores in 62 countries. Starbucks Coffee started in 1971 by three partners: English teacher, Jerry Baldwin; History teacher, Zev Seigl and writer, Gordon Bowker. The three partners were inspired to sell a high quality of coffee beans and equipment by coffee roasting entrepreneur, Alfred Peet after he taught them about his style of roasting beans. The original of Starbucks Coffee’s logo was fashioned after a 15th century Norse woodcut, the image of a mythical two-tailed mermaid siren. The siren, as you may recall from Greek mythology. It was an alluring and irresistible female figure, typically as half fish / half woman (the mermaid variety). ------------------------------------------------- Figure 1: Original brown logo, used from 1971–1987. Figure 2: Green logo used from 1992–2011, still being used as a secondary logo. Figure 3: Redesigned logo used from 2011–present. Mission Statement of Starbucks Coffee Our mission: To inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time. Here are the principles of how they live that every day: 1) Our coffee: It has always been and will always be about quality. They are passionate about ethically sourcing the finest coffee beans, roasting......

Words: 1185 - Pages: 5

A Business Concept That Has Changed History

...Scott A. Victor Student ID: AC1305363 EN120 – English Composition 1 Assignment 06 08/31/2013 A Special or Unusual Person Abraham Lincoln is perhaps the nation's ideal self made man. His struggle to prevail humble beginnings, achieve the apex of success, and by establishing the abolition of slavery, which remains one of the most cherished themes within the Lincoln legend and, indeed, within all of American history. Lincoln himself nurtured this tradition of humble origins to steady his own rise from obscurity to distinction. Throughout his life, Lincoln dispraised his own parentage and childhood rather than embracing them (McAfee, W 2004). In fact, Lincoln self consciously grounded his entire political career within the context of a personal triumph over inherited adversity (Winkle, K .J. 2001). During his very first campaign for public office, he declared, "I was born and have ever remained in the most humble walks of life" (Burlingame, M 1997). Thirty years later, Lincoln was still sounding the theme of his own humble beginnings. Running for president in 1860, he noted that both his parents had came from "undistinguished families" (Winkle, K .J. 2001). He described his youth as physically hard and culturally unrewarding. The biography Lincoln authorized for his presidential campaign pictures his family as poor and uneducated, and concluded that it would be difficult to conceive of more unpromising circumstances than those under which he was introduced into......

Words: 945 - Pages: 4

Business History

...The Rise of Market Society in Europe and the Industrial Revolutions in Britain MGMT 1030 Schulich School of Business The Three Industrial Revolutions-General Features 1)First Industrial Revolution (1760s to 1840s) ➢ Led by Britain, with the United States, France, and Germany following several decades later ➢ Marked by increases in agricultural productivity, the development of new transportation methods such as canals, the rise of urban society, and the growth of the factory system ➢ Typical new products were steam engines and factory-produced items such as cotton textiles and ironware 2)Second Industrial Revolution (1840s to 1940s) ➢ Led by the United States, Britain, and Germany ➢ Marked by communication and transportation revolutions, the development of the telegraph, railroads, and the internal combustion engine, and the development of the modern corporate structure ➢ Typical new products were steel, chemicals, and a wide array of consumer goods such as automobiles and home appliances 3)Third Industrial Revolution (1950s to present) ➢ Led by the United States and Japan ➢ Marked by the rise of the service economy, international financial and trade transactions, and the introduction of the computer ➢ Typical new products were consumer electronics and a wide array of pharmaceuticals The Pre-Market Economy to 1700 1)Economic Society in the European Middle Ages A)The Manorial......

Words: 988 - Pages: 4

History

...societies that are among us.     As mentioned, I have Norwegian and Swedish in me from my father’s side, and from my mother’s side I have English, Irish, and Dutch in me. Chapter One: Family History My journey started at a hospital named Emanuel in Portland Oregon, at 9:30 in the morning. About a 45 minute drive outside of Portland, is a smaller city Beaverton, where I lived until I was about 11 years old, which is why I think I will always consider Oregon home. From Oregon, my family and I moved to sin city! Yep, that is right, at 11 years old I found myself living in Las Vegas Nevada. The dream of living in Las Vegas was short lived, after a year and a half of living in Nevada, my dad accepted a job a little closer to home, Washington. Port Orchard, Washington I thought my parents were joking with my brother and I, when they told us we were not only moving, but that we were moving to a small town called Port Orchard. In the nine years that my family has lived here in Washington, a lot has changed. My father who had spent almost 15 years in the call center management business, decided to go back to school, and continue his education. He is now finishing up with his Paralegal Degree, and will be graduating next year from TCC. My mother spent most of her career in the Mortgage Loan business. Growing up, my parents worked 50+ hour work weeks, so my brother and I spent a lot of time after school, with our Norwegian grandmother, who single handedly had a huge influence......

Words: 1899 - Pages: 8

The History of the Music Business: Literature Review of Readings

...The History of the Music Business: Literature review of readings The landscape of the music business has been shaped by influential minds in music history. From as early as the 1940s to the 21st century, artists such as Nirvana and managers such as Peter Grant have made major decisions that would shape their careers and subsequently the future of the music business (Goldberg, 2008; Welch, 2003). In this literature review, the events and decisions that helped shaped the future will be examined and explored in the text to understand their impact on the music business. Ahmet was one of the influential people in the early stages of the music industry (Greenfield, 2011). When he met all the guys with independent record companies and decided they were ‘a bunch of third-rate crooks’, he like Rothchild jumped on the opportunity to get into the record business and eventually finding Atlantic records with Herb (Greenfield, 2011: 40; Goodman, 1997). But not all independent record labels were third rate crooks, Morris Levy, started from an independent record company, Roulette and was an important figure in the early stages of the music business (Dannen, 1990). He was described as the octopus of the music industry with his influences and connections, especially with the mafia who were heavily influential in many parts of the States. This would set the precedent for the future rap industry in which the themes of alcohol, stripper, violence and drugs are common and run by gangsters....

Words: 1018 - Pages: 5

History

...Gonzalez 1 Rachel Gonzalez AP U.S. History Mr. Cranston 20 March 2015 Chapters 12 and 13 Essay Assignment Major themes of history evolve as time progresses. From the eighteenth and nineteenth centuries, to the late nineteenth and early twentieth centuries, massive shifts occur. Regarding work, exchange, and technology; America in the World; politics and power; as well as ideas, beliefs, and culture, the evolution between the centuries have changed the significant themes throughout the United States. Work, exchange, and technology play a huge role in Americans lives throughout each century. People rarely used money; services and products were paid for mostly through trades and barters. Home and work were not separated; they were the same place. Nobody stuck to a schedule; things were done as needed. Skills were acquired through apprenticeship. An apprenticeship lasted from three to seven years. Apprentices lived with their masters during this time period, while trading knowledge for labor. However, women were not allowed to have such apprenticeships. Women gained knowledge of domestic skills through their mother, as it was assumed that the women would marry. Some women would work respectably as: servants, laundresses, seamstresses, cooks, and food vendors—or not respected as prostitutes. Men directed the lives of family members and apprentices: deciding occupations for sons, marriages for daughters, etc. Women (the wives) were responsible for: food,......

Words: 3448 - Pages: 14

History

...Part1: Reading Comprehension and Translation History of Halloween Halloween falls on October 31st each year in North America and other parts of the world. What do you know about Halloween? Do you celebrate it in your country? Here is a little history about it …………………………………………………………………………………………………………………………………………………………………………………………………………………………………… Like many other holidays, Halloween has evolved and changed throughout history. Over 2,000 years ago people called the Celts lived in what is now Ireland, the UK, and parts of Northern France. November 1 was their New Year's Day. They believed that the night before the New Year (October 31) was a time when the living and the dead came together. ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… Like the Celts, the Europeans of that time also believed that the spirits of the dead would visit the earth on Halloween. They worried that evil spirits would cause problems or hurt them. So on that night people wore costumes that looked like ghosts or other evil creatures. They thought if they dressed like that, the spirits would think they were also dead and not harm them. ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… The tradition of Halloween was carried to America by the immigrating Europeans. Some of the traditions changed a little,......

Words: 467 - Pages: 2

History

...Columbia: Coffee is King The Social, Cultural, and Political Implications of the Coffee Economy Aurelia Moore Columbia College September 26, 2015 Introduction The cultivation and exportation of what is regarded as the finest coffee in the world, transformed the beautiful country of Colombia. At present, coffee cultivation is one of rural Columbia’s largest sources of employment (Coffee in Columbia, 2013). From a social standpoint, the coffee industry helps to foster positive social change through the creation of healthy economies, communities, and resources for those working in the industry, including health care and education. Culturally speaking, the art of coffee cultivation has a lengthy history in Columbia and is a way of life in much of the rural, mountainous country. Despite the earthquakes and other natural disasters which have impacted the region, the coffee growing community is typically inclined to band to together to rebuild if and when needed, in order to return as quickly as possible to their known way of life. Politically speaking, coffee is a huge economic driver for the country. Social Implications Beyond the natural emphasis on coffee generated profits, Columbia’s coffee export industry has long endeavored to create positive social change and impact. In existence since 1927, the Columbian Coffee Growers Federation (FNC) is charged with representing and defending the coffee grower’s interests and to promote social agendas desired by the......

Words: 1046 - Pages: 5

History

...Name: Professor: Course: Date: Sir Winston Churchill Introduction Being a high profile personality is at times beneficial to an individual not only during the person’s lifetime but also after his death. It is always good to realize that anything that an individual does always affect people around either positively or negatively and having a positive impact is always the best thing and does last for ages even after death. In stands that in the society there are people of higher ranks than others either in politics, workplace, business and many others. Often when these people quite a career that was known of them or even die they will leave a legacy behind for either the right or bad things they did while on serving in their area of influence. Doing good things to others while holding such positions is something that everyone longs for but that has never been the case for many. The many politicians and other professions in various high posts in the society have had always had their reputations to build; however, not everyone will always have the heart to help others in the society, not even those people he leads. Some will be selfish and will only be interested in being financially stable from illegal sources such as soliciting taxpayer’s money(if he is a politician) while some will be bad enough to take even away people’s lives for selfish gains. All these are traits that describe those people around us especially the high profile personalities. But there lived this man,......

Words: 2840 - Pages: 12

Why We Should Study Business?Including Its Success, Failure, History and Principels.

...Department: B.B.A Course: Introduction to Business Course Code: BUS 101 “Asssignment on” Why we should study business?including its success,failure,history and principels. Assignment No: 01 Prepared for: Farhana Nusrat Rumman Prepared by: Md. Mahadi Hasan Shawon ID: 2016-1-10-323 Submission Date: Why we should study Business: The study of business will help us to increase our skills,sharpen our knowledge and understand the business and economic links among nations.There are some other reasons for which we study business: 1.Increasing dependence on others: Over the years,people have become more and more dependent on others.The knowledge of business is increasing the understanding of mutual dependence through business system.For example-you drive a car that is manufactured in Japan. 2. International opportunities: In the 21st century,it has become indispensable for every one especially individuals educated in business to take exiting opportunities that will exit around the world.By studing business they can know how to start,operate,and sustain business successfully in the competitive world. 3.Improving standard of living: Standard of living indicate measure of how well a person or family is doing in terms of satisfying needs and wants with goods and service.This is possible through their knowledge of business.so we must study business to develop our standard of living. 4.preventing misconceptions: Understanding business also prevents us accepting......

Words: 1717 - Pages: 7

History

...bronze types which were already invented in East Asia. The mirror image of each letter, rather than entire words or sentences was carved in relief on a small block. Each letter, which are easily movable were put together to form words; lines of type were formed by the blank space left after each word; and lines of type were brought together to make up a page. Letters could be arranged into any format, because of which, a countless variety of texts could be printed by reusing and resetting the type (Kreis, 2011). Gutenberg got the idea of making printing press from existing technologies: textile, papermaking, and wine presses. However, he introduced an idea of molding and casting of movable metal type, which is a remarkable work in the history. He used the idea of presses used for making wine and cheese, and modified the existing ones to make a press for transferring the image from type to the papers. An operator is needed to use the lever to increase and decrease the pressure of the block against the paper to get the image of what is on the type. It was also necessary to develop suitable inks for printing with the new printing press. By that time, there were only water-based inks used for hand lettering and for block printing, which do not stick on metal type. Thus, a viscous oil based ink that sticks on the metal type was required for the new machine. Gutenberg not only designed a movable type printing press, but he also invented suitable kind of oil-based ink for the......

Words: 2525 - Pages: 11

Business Concept That Changed History

...A business concept that has changed history Over the last 40 yrs there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the last forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. Department stores were identified by the products they sold. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items. Local specialty stores were replaced by the supermarket. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores as owners were unable to compete with the bigger chains that offered consumers a wide variety of products. Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for consumers to shop. For example, stores such as Wal-Mart and Target...

Words: 728 - Pages: 3

Business History

...new clients begins in September of each year due to scheduled school openings as well as the end of summer vacation. Recently I have accepted a client of Ghanaian background and have discovered in the process a possible potential for expanding my business to cater to a growing population of families with Ghanaian background in my neighborhood, but in doing so I have resolved the need to provide an adequate day care service for the said community. I have also found it difficult to communicate effectively with my new clientele, which poses as a barrier towards my business as I am unable to secure more clients from the said community due to the said limitation/consequence. In an effort to expand my business services to cater to both U.S. Nationals as well as residents with Ghanaian background, I am requesting to hire one (1) temporary foreign worker whose native skills, language and cultural background will allow me to potentially secure more clients from the aforementioned community. With that being said, I too would be able to learn from interaction with my foreign worker the many needs, cultural diversity, customs and traditions that cater specifically to this community and eventually incorporate the items I learn into my business as I continue to grow. This request is only for a one-time occurrence for a temporary worker in such a way that the person I am requesting temporary work permit for will be able to establish and create a positive rapport and trust with me and my......

Words: 325 - Pages: 2

History

...United States was within the power of the federal government, and further that the state of Maryland could not constitutionally tax a legitimate operation of the federal government. The Second Bank of the United States was a private concern, but acted to control the currency of the United States. This function brought it into frequent conflict with state and local banks, particularly in the South and West. Those other institutions often issued large amounts of paper money and followed liberal loan policies; such practices were frowned upon by the conservative directors of the Second Bank of the United States. O-Grab-Me- Known in North American folklore as the “Ograbme” (embargo spelled backwards) the snapping turtle earned a place in the history of our southern neighbors, becoming a feature in political cartoons commenting on the 1807 Jeffersonian embargo act which banned trade between the United States and other nations. New Orleans 1815: The Battle of New Orleans was fought December 23, 1814-January 8, 1815, during the War of 1812 (1812-1815). Before peace was concluded in December 1814, the British launched an effort to seize a portion of southern Louisiana, including the prized city of New Orleans. The renowned Battle of New Orleans occurred on January 8, 1815, several weeks after the Treaty of Ghent was signed. However, the treaty had provided that the hostilities were to continue until both sides ratified the agreement; that did not occur until February 1815.......

Words: 5803 - Pages: 24