Business Management, Chapter 2
Theory X
Assumes that people are basically lazy and will avoid working if they can.
Theory Y
Assumed that people find satisfaction in their work and will work productively if put in the right environment.
Hierarchy of Needs
Is Maslow's grouping and ordering of physical, security, social, status and self fulfillment needs.
Theory Z
Is a business management theory that integrates Japanese and American business practices.
Trust
Is a giant industrial monopoly.
Total Quality Management
Is a system of management based on involving all employees in a constant process of improving quality and productivity by improving how they work.
Decentralization
Is the process by which decisions are made by managers at various levels within an organization.
Monopoly
Occurs when one party maintains total control over a type of industry.
Centralization
Refers to the concentration of power among a few key decision makers
Scientific Management
Seeks to increase productivity and make work easier by carefully studying work procedures and determining the best methods for performing particular tasks.