They all contributed significantly to the development of classical organization theory. Taylor’s scientific management approach The scientific management approach developed by Taylor is based on the concept of planning of work to achieve efficiency, standardization, specialization and simplification. Acknowledging that the approach to increased productivity was through mutual trust between management and workers, Taylor suggested that, to increase this level of trust, • the advantages of productivity improvement should go to workers, • physical stress and anxiety should be eliminated as much as possible, • capabilities of workers should be developed through training, and • the traditional ‘boss’ concept should be eliminated.
Considering the organization as a segment of broader society, Weber (1947) based the concept of the formal organization on the following principles: • Structure In the organization, positions should be arranged in a hierarchy, each with a particular, established amount of responsibility and authority. • Specialization Tasks should be distinguished on a functional basis, and then separated according to specialization, each having a separate chain of command. • Predictability and stability The organization should operate according to a system of procedures consisting of formal rules and regulations. • Rationality Recruitment and selection of personnel should be impartial. • Democracy Responsibility and authority should be recognized by designations and not by persons.
The Business plan on Plan financial management approaches
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective The candidate will demonstrate the ability to plan financial management approaches. Assessment description In response to the scenario ...
