-
The Industrial Revolution refers to the period during which a country develops an industrial economy. -
These captains of industry included John D. Rockefeller, James Duke and Andrew Carnegie -
A monopoly occurs when one party maintains total control over a type of industry. -
Congress passed the Interstate Commerce Act, the first major piece of regulatory of legislation. -
This act made it illegal for companies to create monopolies. -
Maslow's hierarchy of needs has important implications for business managers. -
Abraham had important ideas about management. He developed a theory of motivation. His ideas had a significant impact on management. -
Researchers began to look at the relationship between working conditions and productivity. -
Professor Douglas McGregor identified 2 types of management styles. THeory X- assumes that people are basically lazy and will avoid working if they can. Theory Y- assumes that people find satisfaction in their work. -
William Ouchi was a management researcher who developed Theory Z. Theory Z incorporates the Japanese emphasis on collective decision making.