chapter 2: 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.

Trust

A giant industrial monopoly

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.

Hierarchy of needs

Grouping and ordering of physical, security, socila, status, and self-fulfillment needs.

Centralization

The concentration of power among a few key people.

Decentralization

The process by which decisions are made by managers at various levels within the organization.

Scientific management

To increase productivity and make work easier by carefully studying work procedures and determining the best methods for performing particular tasks

Monopoly

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