Business Management: Chapter 2
Theory X
business management theory that assumes people are basically lazy and will avoid working if they can
Theory Y
business management theory that assumes people find satisfaction in their work
Theory Z
business management theory that integrates Japanese and American practices
Scientific Management
seeks to increase productivity and make work easier by carefully studying work procedures and determining the best methods for performing particular tasks
Hierarchy of Needs
Maslow's grouping and ordering of physical, security, social, and self-fulfillment needs
total quality management (TQM)
a system of management based on involving all employees in a constant proccess on improving quality and productivity by improving how they work
Trust
giant industrial monopoly
Monopoly
occurs when one party maintains total control over a type of industry
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
