Scientific Management - Taylorism Essay - 990 Words

‘Scientific Management’ is a managerial development theory that was proposed by Frederick Winslow Taylor in the 1880s. It was designed to apply scientific methods to the management of work organisations in order to improve economic efficiency and labour productivity. This theory is also well known as ‘Taylorism’ and has had a significant impact in the history of organisational management. Scientific management has had many benefits in the work organisation such as the division between workers and managers, increased efficiency in production and task specialisation. To some extent, this idea may still be relevant in some organisations but it is evident that the problems associated with this theory has led to the downfall of scientific†¦show more content†¦As a result of gender division, it was evident that there was a significant difference in wages for women and men. Men typically received a higher wage than women which unquestionably became an issu e as men were less likely to experience changes in their assigned jobs, whereas women were more susceptible to these changes. Furthermore, not only are women’s wages lower than men’s, this often ends in a gender clash as it leads to women feeling unmotivated and not up to standard. Not only has scientific management created a negative gender division in work organisations, it has also created a less encouraging environment for workers. Although the principles of Taylorism have had a positive outcome on efficiency of production and productivity of workers, it has negatively impacted the workers as it has decreased job satisfaction thus increasing the repetitive nature of the workload. As workers are only required to specialise in one specific task, workers quickly become dissatisfied as the fundamental job requirements such as variety of skill, significance of tasks, independence and criticism are all missing. According to Gronroos (1994), it is due to the introduction of new technology in the work organisation that prevents workers from experiencing considerable job satisfaction. This also results in a poor relationship betweenShow MoreRelatedScientific Management, Or Taylorism, Is A Theory Of Management1929 Words   |  8 PagesScientific Management, or Taylo rism, is a theory of management by F. W. Taylor that analysed how the highest economic efficiency, especially labour productivity, can be achieved, hence the greatest prosperity for both employers and employees. The four principles that he brought forward are the replacement of the ‘rule of thumb’ work method with a scientific way to study work, matching and training the most suitable person to do each particular job scientifically instead of leaving the workers toRead MoreThe Advantages Of Taylorism ( Scientific Management )1747 Words   |  7 Pagesand disadvantages of Taylorism (Scientific Management) In the late 19th century, Frederick Winslow Taylor, a mechanical engineer, created the theory of scientific management (or Taylorism). Scientific management intends to achieve efficiency by increasing worker productivity, predictability by standardising and dividing up tasks and control by creating a hierarchical working environment (Huczynski Buchanan, 2013). This essay will argue that the only real advantage of Taylorism is that it has beenRead MoreTaylorism and Scientific Management1910 Words   |  8 Pagesï » ¿For centuries, scholars, philosophers, and lay-persons alike have been concerned about the issue of management. This includes management of processes, people, things, events, and societies all with the focus of the basic motivations that drive individuals to become most productive. Of course, outside of Maslows Hierarchy, we know that compensation has historical been a great motivator, but in the modern age, there are more complex motivators that focus more on individua l actualization. As longRead MoreA Scientific Management, Taylorism, And Management1405 Words   |  6 Pages F.W Taylor introduced a scientific management, Taylorism, in the early 20th century to solve the problem of inefficiency. The aim of Taylorism is to maixmise productivity and minimise waste of resources using specialisation of labour. There are three main components of Taylorism and it will be discussed in detail in the later paragraphs. Firstly, according to Rose, M. (1978), Taylor believes that the root of inefficiency is the slacking and soldiering of workers. And irrational and incompetentRead MoreTaylorism Is A Scientific Management System1480 Words   |  6 PagesTaylorism is a scientific management system that was developed by Fredrick Taylor in the 1880s. Taylorism works in a method based on F. Taylor’s scientific study of accomplishing different tasks instead of empirical methods or methods inspired by past experience and knowledge. Taylorism also tends to scientifically train and help develop employees’ skills instead of letting them train themselves during their time in the workplace. Another principle of Taylorism is that it gives comprehensive andRead MoreTaylorism or Scientific Management Principles at Ford Motors Company1835 Words   |  8 Pageswith the role of Taylorism or scientific management in a specific organization. The primary focus will be to critically discuss how the vario us methods of scientific management are applicable to the chosen organization, which in this case will be Ford Motors. The essay will describe F.W. Taylors early work life and techniques of scientific management and its success. It will then go on to discuss the production methods at Ford Motors prior and post the application of the management principles alongRead MoreTaylorism, Scientific Management, Is a Theory of Management Methodology That Emphasizes on Maximising Work Efficiency.2200 Words   |  9 PagesIntroduction Taylorism, additionally known as Scientific Management, is a theory of management methodology that emphasizes on maximising work efficiency. Developed and named after an American industrial engineer, Frederick Winslow Taylor. Through thorough use of a stopwatch and a clipboard, Taylor put all his research and outcomes into a book called the Principles of Scientific Management, which was later published in 1911. In the monograph Taylor’s notion was to mend the economical proficiencyRead MoreHuman Relations Theories : Scientific Management And Taylorism And Human Relation Theories2542 Words   |  11 Pages Introduction The never-ending discussion about the superiority of one out of two different managerial approaches – Scientific Management and Taylorism and Human Relation Theories - took its place since the beginning of 20th century. One of the most well-known Human Relations Theories is on employee empowerment. However, pinning down an actual definition on term of empowerment due to its wide scope is highly problematic (Woodside, Martin; 2007). Some authors view it as giving authority and decision-makingRead MoreDespite Many Criticisms, and a Wealth of Newer Theories on the Topic of Managing People, Taylorism (I.E. Scientific Management) Is Alive and Well in the 21st Century.2422 Words   |  10 Pagesof newer theories on the topic of managing people, Taylorism (i.e. Scientific Management) is alive and well in the 21st century. The purpose of this essay is to show that Taylorism (Scientific Management) is still alive and well in the world today despite the many criticism and newer theories of management. The essay will be structured into four main headings. In the first section we will be looking and the definition if Taylorism and how Taylorism is implemented in the 21st century. In the secondRead MoreAnalysis Of Ford And Taylorism Theory973 Words   |  4 PagesExecutive Summary Ford and Taylorism theory has been there for many decades. It has its own advantage and disadvantage. However, we can still absorb from the theory and many of the methods are still practiced in this era. In this activity 1, we are going to summarize the ideas of Ford and Taylorism and discuss if the concept it accepted in many countries. Secondly, in the second activity, we are going to review about globalisation by Thomas Friedman. We will mention about the risk of living in

Hca/250 Change and Innovation Paper Free Essays

Change and Innovation Paper HCA/250 Change and Innovation Change and Innovation In today’s economy we have experienced numerous amounts of change especially within the workplace. Some of these changes consist of new technology, procedures, as well as equipment, which can cause a lot of misunderstandings amongst present employees. According to the scenario given; a major health care organization has decided to use electronic medical records (EMRs). We will write a custom essay sample on Hca/250 Change and Innovation Paper or any similar topic only for you Order Now The employees in this organization are resistant to change, specifically changes that have to deal with technology. There are several ways that an employer can resolve situations like these and convert it into a positive that will benefit the facility. Within the workplace it may be difficult for employees to adapt change due to being confined to their usual agenda. Also most may find it highly difficult to manage the adjustment in using electronic medical records (EMRs), because that’s training that present and future employees would have to complete in order to be certified to use this new technology. Also acknowledge that many of these facilities today rarely offer on-the-job training, which is time that employees have to appoint in order to be up to date with their place of employment which many may not have. Therefore, giving us an understanding why employees would be resistant toward the technical changes within the workplace. Being that I am a recreational manager at my current place of employment I too have to deal with the questions and concerns of current employees who may have an issue with certain changes. Some strategies that I consider helpful is to start by finding out their reason for not wanting to confine to the new changes and hopefully see if there is a reasonable conclusion that can possibly resolve the situation at hand. Also, stating the present reason(s) for the change, Change and Innovation giving the employee an explanation on how it will benefit the facility as well as themselves. After doing so if their still in disagreement I’d still encourage them to perform their duties to their fullest potential. It is not guaranteed that an employer can please all of its workers, but make it to where they at least feel comfortable performing their duties in that particular work environment. So it is good to follow through with the innovation plans, so that employees are aware of their new goals and how to manage their performance for the better good of the company. So why are some employees resistant toward organizational change? There can be multiple reasons for this. Many may disagree with certain changes that are being made, time management may cause conflict to a lot of schedules, due to the fact that many of us do inquire a second job, or it can just be that they may not like the new ideas of change for their own personal reasons. It is understandable that employees may have issues with certain adjustments especially if it’s going to affect other things they may have going on. For example, at my place of employment we had recently made the decision to keep our facility open later on the weekends because we realized we make more profit mainly on the weekends. Whereas making such change has affected some of our employees being that some of them work second jobs strictly on the weekends aside from this one, along with others who have children and are not able to find child care that could keep their children until eleven o’clock. So it has created a lot of conflict for some of our employees where we had to come to an agreement on how we could work around their second job schedules and their availability. Having to adjust to certain employees’ availability is where Human Resources can play a role in adapting and managing change. They have the ability to set forth ideas and solutions on how to keep the necessary change in progress Change and Innovation as well as assisting their workers with managing their work schedules and extras that may hinder them from fully achieving the necessary changes within the work environment. Giving another example from my place of work, we have recently got the approval to expand our facility so we can add more amenities for our customers’ enjoyment. Therefore, Human Resources have aken it upon themselves to hire flex time workers in order to cover the shifts that our regular workers cannot. However, it all works out for the better good of our facility by increasing the success from the management of innovation and change. Reference 1. http://smallbusiness. chron. com/innovation-change-business 2. http://www. leadership-and-motivation-training. com/strategies-for-managing-change 3. Coulter, M. , DeCenzo, D. , Robbins, S. (2011). Fundamentals of Management: Essential Conc epts and Applications. Seventh Edition. Pearson Education. Published: Prentice Hall. How to cite Hca/250 Change and Innovation Paper, Papers

Financial Management of Corporate Governance - MyAssignmenthelp.com

Question: Discuss about the Financial Management of Corporate Governance. Answer: 718 Geelong Street, Melbourne, VIC 3000 15 January 2018 Christopher Sampson Managing Director, Beachlife Ltd Level 7, 927 William Street, Brisbane QLD-4000 Dear Christopher Sampson Relevant email was transmitted on 13 November 2017, which indicated the problems faced by Beachlife Limited in forming their annual report. The email sent to Magenta and Associates mainly addressed the accounting issues faced by the management of Beachlife Limited. Nevertheless, in response to the email the following letter is being outlined, which directs all the relevant problems and accounting issues faced by the organization. The measures and standards needed for comprehending the accounting issues adequately discussed in the letter, which could allow the board to correctly prepare its financial report. On behalf of Magenta and Associates I wholeheartedly thank you for providing us with an opportunity to help with your accounting issues. Rest assured the measures and adjustment that is needed for nullifying the accounting issue are adequately depicted in the letter. Furthermore, adequate references and sources are provided with the advice that is given for contemplating the accou nting issue. Beachlife Limited is a public limited company, who needs to follow all the relevant AASB standard and regulations laid in Corporation Act 2001. The clauses and sections need to be maintained by the organization while preparing the annual report, as it might help in depicting their actual financial position. Regulations such as section 292, section 296, and section 334 are mainly used in drafting the annual report (Aasb.gov.au 2018). Organizations use the detected regulations to formulate their annual report according to the standard maintained by the AASB and IAS. Lastly, it could be said that the advice provided in Beachlife Limited is compliant with AASB standard, which could allow the organization to complete their annual report. The measures are provided for issues regarding the warranty expense and future loss that will be incurred by the organization. Identifying the overall measures needed to solve the accounting issue regarding infringement claim: The first accounting issue addressed in the email was regarding problems relating to patent case, where the company needs to pay compensation to the accuser. However, the problems in recording of loss that will be incurred by the company due to the infringement patent act is adequately solved. Beachlife Limited could use contingency liability in their annual report to record the overall loss, which will incur in immediate future. The measure taken with contingency liability section is mainly addressed in AASB 137 paragraph 10 (Aasb.gov.au 2018). The treatment of contingency liability mentioned under paragraph 10 addressed that any kind of loss, which will incur in future due to past actions needs to be recorded in contingency liability section. This section directly addresses the accounting issue of recording any kind of future losses incurred by the organization in future. The contingency liability section mainly comes under balance sheet section of the organization under the liabil ity section. Therefore, the board could use the contingency liability section mentioned in AASB 137 for addressing the accounting issue faced by Beachlife limited (Adhariani, Sciulli and Clift 2017). Particulars Value Probability 1st chance $ 50,000,000 60% 2nd chance $ 30,000,000 40% 3rd chance $ 87,000,000 30% The above table mainly identifies the overall probability and chance of loss occurrence from the court ruling against Beachlife limited. There are 3 probabilities with different percentage, where the company could incur loss. The highest probability is 60%, where the company will incur loss of $ 50,000,000, which needs to be listed in the contingency liability section. The other probability is also an option, where the company could incur different amounts of loss. However, the highest chance of probability occurrence needs to be taken into consideration, as there is highest likelihood the loss, which might incur by the organisation (Ball, Tyler and Wells 2015). In addition, the contingency liability section of Beachlife limited should include $ 50,000,000 for the probable loss, which might incur from infringement patent case. Consequently, the board of Beachlife limited could utilise the information related to AASB 137 paragraph 10 for addressing their accounting issue. This could eventually help in formulating the correct annual report, which represents actual financial position of the organisation. For any further queries on contingency liability section and related standard please feel free to contact Magenta and Associates. Therefore, the board could utilise contingency liability section of AASB and increase their liability section in balance sheet by $ 50,000,000. Identifying the measures used in solving the issue regarding warranty and sale record: The second issue that is faced by the organization is problems related to warranty expenses and record of sales in the current fiscal year. The main issue is regarding listing of warranty expense in the annual report, which is needed to be provided by the company in the current fiscal year and extends to next fiscal year. Relevant provision needs to be conducted by the company to depict their actual financial position in the annual report. According to AASB 137, the expenses that will be conducted in future by the actions taken in past needs to be enlisted under contingency liability section. Moreover, under AASB 137 Paragraph 14(a), the overall expenses that needs to be conducted by the company in near future must be enlisted under contingency liability section of the balance sheet (Aasb.gov.au 2018). Furthermore, the board could utilize the measure conducted by AASB for enlisting he warranty expense that needs to be incurred by the company (Hudson 2016). The problems related to rec oding of sales in annual report also needs to be addressed, where AASB 118 paragraph 9 could be utilized. According to AASB 118 paragraph 9, companies need to recognize their sales conducted during the fiscal year in the annual report (Aasb. Gov. au 2018). The happening of sales conducted in December 2017 needs to be immortalized in the current financial year, which could assist in drafting actual financial position of Beachlife limited. The relevant revenue recognition method is mainly enlisted in AASB 118 paragraph 9, which directly help in stating the actual financial position of the organization. In addition, AASB 118 also states that credit sales are entered during the occurrence regardless of the actual payment conducted by the customer (Jones 2017). Hence, the board of Beachlife limited could enlist the sales figure of $180,000 in the revenue section under the provision of AASB 118 paragraph 9. On the other hand, the contingency liability section of the company under the provision of AASB 137 paragraph 14 (a) could allow the expenses of $15,000 as warranty expense in their yearly report. These above depicted measures for the accounting issue could eventually allow Beachlife limited to accurately develop the yearly report and portray their real financial situation. All the relevant information is divulged in the missive, which could permit the board of Beachlife limited to solve the accounting issue faced in preparing their yearly report. The standards presented by Magenta and Associates adequately comply with all the AASB standard and is accepted by accounting board. The board could utilise the information for nullifying the accounting issues and present accurate financial position in their annual report. Hence, all the accounting issues listed the email sent on 13 November 2017 is adequately addressed. I also guarantee you that any kind of further details needed by the board of Beachlife limited can be provided by Magenta and Associates. We are looking forward for future communication between our administration. Regards Lisa Magenta Manager Magenta and Associates 718 Geelong Street, Melbourne, VIC 3000 Reference: AASB, C.A.S., 2014. Business Combinations.Disclosure,66, p.77. Aasb.gov.au. (2018). [online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB137_07-04_COMPoct10_01-11.pdf [Accessed 16 Jan. 2018]. Aasb.gov.au. (2018). [online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB118_07-04_COMPoct10_01-11.pdf [Accessed 16 Jan. 2018]. Adhariani, D., Sciulli, N. and Clift, R., 2017. Quantitative Optimisation Model, Results and Discussion. InFinancial Management and Corporate Governance from the Feminist Ethics of Care Perspective(pp. 209-284). Springer International Publishing. Ball, F., Tyler, J. and Wells, P., 2015. Is audit quality impacted by auditor relationships?.Journal of Contemporary Accounting Economics,11(2), pp.166-181. Hoyle, J.B., Schaefer, T. and Doupnik, T., 2015.Advanced accounting. McGraw Hill. Hudson, M., 2016. No setting off unfair preferences.Australian Restructuring Insolvency Turnaround Association Journal,28(3), p.34. Jones, D., 2017. Tax and accounting income-Worlds apart?.Taxation in Australia,52(1), p.14. Loyeung, A. and Matolcsy, Z., 2015. CFO's accounting talent, compensation and turnover.Accounting Finance,55(4), pp.1105-1134. Richardson, G., Richardson, G., Taylor, G., Taylor, G., Lanis, R. and Lanis, R., 2016. Women on the board of directors and corporate tax aggressiveness in Australia: An empirical analysis.Accounting Research Journal,29(3), pp.313-331.