20-06-2015, 06:42 PM
Taylor's scientific management applied on amul
How Taylor principals applied/followed by on Amul
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taylor principle which has applied on amul
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Taylor's scientific management applied on amul
How Taylor principals applied/followed by on Amul
17-03-2017, 10:58 AM
In economics, a Taylor rule is a reduced-form approximation of the central bank's nominal interest rate responsiveness to changes in inflation, output, or other economic conditions. In particular, the standard describes how, for each one percent increase in inflation, the central bank tends to raise the nominal interest rate by more than one percentage point. This aspect of the rule is often called the Taylor principle. It should be noted that, while such rules may serve as concise and descriptive representations of central bank policy and are not explicitly outlawed by central banks in setting nominal rates.
The Principles of Scientific Management
1: Fundamentals of Scientific Management
Taylor argued that the management principle should be to ensure maximum prosperity for the employer, coupled with maximum prosperity for each employee. He argued that the most important object of both employee and management should be the training and development of each individual in the establishment, so that he can perform the highest class of work for which his natural abilities correspond to him. Taylor demonstrated that maximum prosperity can only exist as a result of maximum productivity for both the shop and the individual and rejected the idea that the fundamental interests of employees and employers are necessarily antagonistic.
2: The principles of scientific management
Taylor explained his principles of scientific management. He begins by describing what he considered to be the best management system then in use, the "initiative and incentive" system. In this system, management gives incentives for a better job, and the workers do their best. The way of payment is practically the whole system, in contrast to the scientific management.
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