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End of Agricultural Era
Farmers decreased as mass production and major companies increased. -
Start of the Industrial Revolution
Industrialization marked a shift to powered, special-purpose machinery, factories and mass production. -
Interstate Commerce Act
United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. -
Sherman Anti-Trust Act
The first Federal act that outlawed monopolistic business practices. -
Monopolies
The exclusive possession or control of the supply of or trade in a commodity or service -
Fredrick W. Taylor
Father of Scientific Management and efficient workflow. -
Scientific Management
Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency, especially labor productivity. -
Hawthorne Studies of Productivity
The Hawthorne studies were part of a refocus on managerial strategy incorporating the socio-psychological aspects of human behavior in organizations. -
Maslow's Hierarchy of Needs
Maslow's hierarchy of needs is a motivational theory in psychology comprising a five-tier model of human needs, often depicted as hierarchical levels within a pyramid. -
Centralization
The concentration of control of an activity or organization under a single authority. Decentralization would be the opposite. -
Total Quality Management
A system of management based on the principle that every staff member must be committed to maintaining high standards of work in every aspect of a company's operations. Including Deming's 14 points. -
Theory Y
Theory Y managers assume employees are internally motivated, enjoy their job, and work to better themselves without a direct reward in return. -
Theory X
This management style assumes that the typical worker has little ambition, avoids responsibility, and is individual-goal oriented. -
Theory Z
An approach to management based upon a combination of American and Japanese management philosophies and characterized by, among other things, long-term job security, consensual decision making, slow evaluation and promotion procedures, and individual responsibility within a group context.