The first rule of management is that successful management is all about managing oneself rather than managing others. Also see: Principles of... View Article
Frederick Taylor is called the father of scientific management because it was his idea that plant managers should find scientific ways to get the... View Article
Taylor’s scientific management is criticised due to the overly mechanised way of treating workers, which led to the exploitation of the... View Article
Advantages of scientific management are as follows: Enhanced production: Due to harmonious relationship between management and workers, there... View Article
Limitations of scientific management are as follows: Exploitative devices: The benefits of increased productivity were not shared with the... View Article
Rule of thumb refers to the decisions taken by the manager based on his personal judgements. Taylor suggested that managers should not take any... View Article
The 14 principles of management as proposed by Henri Fayol are as follows: Division of work Authority and responsibility Discipline Unity... View Article
Henri Fayol was a French mining engineer and director of mines who developed a management system known as Fayolism or the 14 principles of... View Article
The elements of scientific management by F.W. Taylor consisted of the following elements: Work Study Standardisation of tools and equipment... View Article
Scientific management according to Taylor was the application of scientific approach for making management decisions while discarding all other... View Article
The following reforms were introduced during the liberalisation phase: Industrial licensing was abolished in most of the industries. Public... View Article
India was under a severe Balance of Payments (BoP) deficit in 1991 and also witnessed high fiscal deficit, foreign exchange reserves became... View Article
The objectives of liberalisation are: To increase foreign investment, competitiveness in industrial production and technological advancements.... View Article
Economic reforms of 1991 were possible due to prime minister P.V. Narasimha Rao and Finance Minister Manmohan Singh. Also read: MCQs on... View Article
