The Management Movement

Theory Y

Assumes that people find satisfaction in their work.

Theory Z

A business management theory that integrates Japanese and American business practices

Industrial Revolution

A period of major industrialization that took place during the late 18th and 19th century.

Total Quality Management (TQM)

A system of management based on involving all employees in a constant process of improving quality and productivity by improving how they work.

Theory X

Assumes that people are basically lazy and will avoid working if they can.

Trust

Combining dozens of companies owned.

Scientific Management

Increase productivity and make work easier by carefully studying work procedures in determining the best methods for performing particular tasks.

Heirarchy of Needs

Maslow's grouping and ordering of physical, security, social, and self-fulfillment needs.

Decentralization

Process by which decisions are made by managers at various levels within an organization

Centralization

Refers to the concentration of power among a few key decision makers.

Monopoly

When one party maintains total control over a type of industry.