GMGT 2060 Lecture Notes - Lecture 2: Bounded Rationality, Mary Parker Follett, Materialism

83 views4 pages

Document Summary

Management can 1) maximize profitability and productivity or 2) achieve balance among multiple stakeholders. Women were only paid 60% of mens(cid:1685) salaries. Until recently most companies were owned by families. Division of labour or specialization allowed for corporations to grow ex. Citizens in the usa believed corporations might threaten their freedoms until the 14th amendment. An emphasis on organizing: the (cid:1688)classical(cid:1689) era (1910-1930: frederick taylor is the (cid:1684)father of scientific management(cid:1685) Micro approach, scientific management focuses on defining and maximizing the productivity of individual jobs: ex. Using different shovels for different materials: gantt chart is a bar graph that managers use to schedule and allocate resources for a production job. It identifies various stages of work that need to be completed, sets deadlines for each stage and monitors the process: time and motion studies use stopwatches and ergonomic principles to design jobs to maximize productivity.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers