1. BUSI 321GOLDENCHAPTER 2 INDUSTRIAL REVOLUTION & CAPTAINS OF INDUSTRY ►Power ►Transportation ►Communication ►Rockefeller (oil) ►Duke (tobacco) ►Carnegie (steel) ►Vanderbilt (steamships and railroads)

2. BUSI 321GOLDENCHAPTER 2 SCIENTIFIC MANAGEMENT ►Frederick Taylor ►Soldiering ►Scientifically study work methods and establishing standards ►Design jobs ►Selection and progressive development of employees ►Bring together employees and designed jobs ►Division of work resulting in interdependence between management and workers

3. BUSI 321GOLDENCHAPTER 2 HENRY FAYOL ►1900/1940 ►Tasks/Functions of Management:

4. BUSI 321GOLDENCHAPTER 2 HISTORICAL ESSENTIALS ►Period of solidification: Around 1920-1930 management recognized as a discipline. ►The Human Relations Thrust: 1929- 1932: Emphasis on understanding employees and their needs. ►Hawthorne Studies: Experiments with interesting and unexpected results.

5. BUSI 321GOLDENCHAPTER 2 CHANGING STYLES: Lincoln Electric ►Advisory Board of Employees ►Piece-rate ►Employee ownership of stock ►Bonuses, vacations, suggestion system, life insurance, pension, etc.

6. BUSI 321GOLDENCHAPTER 2 CHANGING STYLES ►Bottom-Up: Delegation of authority to solicit participation from employees. ►Process Approach: P, O, S, L, C! ►Systems Approach: “Integrated Whole.” ►Contingency Approach: Theorizes that different situations and conditions require different management approaches.

7. BUSI 321GOLDENCHAPTER 2 MANAGEMENT THEORY JUNGLE ►Term developed referring to the division of thought that resulted from the multiple approaches to studying the management process.

8. BUSI 321GOLDENCHAPTER 2 THEORY Z ►Integrates/meshes American and Japanese management practices. ►“best of both worlds” ►Combine American emphasis on individual responsibility with Japanese emphasis on collective decision making, slow evaluation and promotion, and holistic concern for employees.

9. BUSI 321GOLDENCHAPTER 2 SEARCH FOR EXCELLENCE! ►Bias for action ►Close to customer ►Autonomy and entrepreneurship ►Productivity through people ►Hands on; value driven ►Stick to the knitting ►Simple form; lean staff ►Simultaneous loose-tight properties