Development of accounting discipline 1.3 An accountant s job profile: functions of accounting 1.4 Utility of accounting 1.5 Types of accounting 1.5.1 Financial accounting 1.5.2 Management accounting 1.5.3 Cost accounting 1.5.4 Distinction between financial and management accounting 1.6 1.7 Keywords 1.8 Self assessment questions 1.9 1.0 Summary References/suggested readings OBJECTIVES After going through this lesson‚ you will be able to·
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Max Weber and Frederick Taylor Weber’s Bureaucratic Theory – the essence of the modern traditionally managed organization. Bureaucracies are arrangements of formal positions. Each position is defined by its specialized duties for which employees are selected on the basis of their technical expertise. Positions are divided (division of labor) into line (positions directly involved in production of goods or services) and staff (positions which advise line and engage
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MANAGEMENT THOUGHTS AND THEORIES The industrial revolution‚ which began in Europe in mid-1700s‚ was the starting point for the development of management concepts and theories. PRECLASSICAL CONTRIBUTORS TO MANAGENENT THOUGHT Name Period Contribution Robert Owen 1771- 1858 Proposed legislative reforms to improve working conditions of labor Charles Babbage 1792-1871 Advocated the concept of division of labor’; devised a profit-sharing plan which led to the modern-day Scanlon Plan Andrew
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According to Henry Fayol‚ “To manage is to forecast‚ to plan‚ to organize‚ to command‚ to co-ordinate and to control”. Introduction to Taylor and Scientific Management: Fredrick Winslow Taylor was born on March 20‚ 1856 in Philadelphia. He was the founder of the Scientific Management. He was an American Mechanical Engineer who sought to improve industrial efficiency. He became an apprentice mechanist in 1874‚ learning factory conditions at the grass root level. In 1883‚ he attained a degree in
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EVOLUTION OF MANAGEMENT THOUGHTS & DIFFERENT APPROACHES TO MANAGEMENT: Management in all business areas and organizational activities is the act of getting people together to accomplish desired goals and objectives efficiently and effectively. Management comprises planning‚ organizing‚ staffing‚ leading or directing and controlling an organization (a group of one or more people or entities) or efforts for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation
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Life of Frederick Winslow Taylor Frederick Winslow Taylor was an important figure the Progressive Era because of his life changing actions. He deserves a place in history because he helped alter the way American workers get the job accomplished. He developed scientific managements to help increase work production and to work more effectively on working grounds. Without his wise lessons‚ it would have taken a toll on American workers and decrease manufacturing. Motivation Before Frederick Winslow
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EVOLUTION OF MANAGEMENT THOUGHTS What is Management? Management is defined as the social process of planning‚ organizing‚ staffing‚ directing‚ co-coordinating and controlling for the determination and achievement of organizational objectives in a dynamic environment. Though management as a science is of a recent origin‚ the art of management existed as old as human society. In the ancient age‚ management study could not be developed‚ because of low esteem to the business prevailing
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theoretical perspectives of management theorists Henri Fayol‚ Frederick Winslow Taylor‚ and Max Weber. Each of the three theorists had a unique view on public administration and policy. This assignment will briefly show the back ground and basic concept of each theory. Then the assignment will delve into each of the theories to determine how each theory stacks up against one another when they are laid side by side. The development of Taylor’s theory of scientific management began with his first encounter
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Evolution of Management Thoughts (Managerial Function) Management is studied in business academics since earlier times and it is considered as an integral part to understand business operations. People have been changing and redesigning organizations for centuries. Though the 20th century is noticeable in history as an ’Era of scientific management’‚ still it does not indicate that management tactics were not used in yester years. Many studies indicated that Management theory evolved with "scientific"
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development of production‚ it was necessary for America to have a breakthrough on the management. Then Frederick Taylor appeared‚ he was “the one who suddenly appear to reverse the situation at the crucial moment‚ and he was the key person to form a thought”. What is scientific management? Scientific management is also called classical management theory‚ traditional management theory. Taylor summarized the scientific management as: Science‚ rather than solely on work experience; harmony‚ rather than the
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