Muckrakers and Their Major Investigations

Essay about Classical Management Theories - 1523 Words

Successful management requires an understanding of the fundamental concepts of effective management techniques and principles. In order to gain such insight, and manage effectively and efficiently, managers must develop an awareness of past management principles, models and theories. From the turn of the 20th Century, the need for a formal management theory was growing evident; organisations required a system to guide managers in an attempt to improve productivity and efficiency of workers. This urgency for a theory saw the development of six major management approaches, the focus of this essay will be on two of the classical management theories; the scientific management theory and the human relations movement. The contributions of both†¦show more content†¦(Mohanty and Sethi, 1996) The underlying assumption of the Scientific Management Theory, according to Dwyer (2005) is that Human nature is machine-like and thoroughly rational, motivated by simple, uncomplicated economical needs. In 1924, a series of studies were conducted in an attempt to determine the effect that lighting had on the productivity of a worker. These studies were later known as the Hawthorne Studies. The studies, which were fronted by Elton Mayo, provided new insights into individual and group behaviour, and found that social norms or group standards were the major determinants of workers behaviour. (Robbins et al., 2006). It is from the Hawthorne Studies that the Human Relations Movement stemmed, and this theory holds a philosophy that a managers concern for workers will lead to their increased satisfaction and improved performance. (Dwyer, 2005) The names associated with this movement include; Dale Carnegie, Abraham Maslow and Douglas McGregor. The main characteristics of the Human Relations Movement included; a scientific approach to the analysis of human behaviour, concern for the well-being of workers, attention to interpersonal relationships, and a view of the worker as a significant v ariable. (Mohanty and Sethi, 1996) The Human Relations Movement contradicted many of the major suppositions of the Scientific Management Theory. Scientific Management focused on the use of exactShow MoreRelatedClassical Theory And Classical Management Theory1454 Words   |  6 PagesClassical Management Theory originated in the late 19th century however it became widely popular in the first half of the 20th century. During this period, business and organizations were trying to solve issues such as reducing costs, worker relations, and increase productivity and efficiency. Additionally, many businesses and organization found themselves trying to deal with employees who did not speak English. You can say this theory came about as a means to try and find the â€Å"best† solution orRead MoreClassical Management Theory And The Classical Theory1503 Words   |  7 PagesThe Classical Management Theory entered the business world in the early nineteenth century, with an emphasis o n increasing worker productivity. Developed by Frederick Taylor, the classical theory of management advocated a scientific study of tasks and the workers responsible for them. It was the foundation of many modern management theories and it aimed to improve operations within an organization. The Classical Management Theory was broken into three schools of thinking: Scientific management, whichRead MoreClassical Management Theories1568 Words   |  7 PagesSuccessful management requires an understanding of the fundamental concepts of effective management techniques and principles. In order to gain such insight, and manage effectively and efficiently, managers must develop an awareness of past management principles, models and theories. From the turn of the 20th Century, the need for a formal management theory was growing evident; organisations required a system to guide managers in an attempt to improve productivity and efficiency of workers. ThisRead MoreThe Classical Theory Of Mana gement2103 Words   |  9 PagesThe Classical Theory of Management During the 1700’s -1800’s a systematic thought process for an established American government battled between Jeffersonianism and Hamiltonianism. The Jeffersonian argued a weak federal government and strong state and local governments, on the grounds that lower-level government will be more responsive than the national government to the popular will. The Jeffersonian also argued that the American economy should rely more on agriculture than on industry and seesRead MoreThe Classical Theory Of Management Theory1588 Words   |  7 Pages The Classical Management theory entered the business world in the early nineteenth century, with a goal on increasing worker productivity. Developed by Frederick Taylor, the classical theory of management advocated a scientific study of jobs and the workers in charge for them. It was the foundation of modern management theories and it aimed to improve operations within an organization. (Robbins Cutler, 2014). The Classical Management T heory was broken into three categories: Scientific ManagementRead MoreClassical Management Theory1529 Words   |  7 PagesClassical management theory, for all it’s rationality and potential to improve efficiency, dehumanised the practice of management (Inkson Kolb, 2001). Choosing either bureaucracy or scientific management, discuss this quote and argue whether modern business’ continues to dehumanise. People’s conception of the nature of work and the social relationships between individuals in various levels in organizations changed, brought by the industrial revolution of the late 1800s. Classical managementRead MoreThe Classical Theory Of Management Essay3683 Words   |  15 Pages1 ï  ¶ Classical theory: The Organizations use quality administration frameworks to enhance the effectiveness of their procedures and systems, which can help build peacefulness. Complete Quality Management frameworks utilize a mixture of apparatuses and speculations to enable workers, construct a group climate and concentrate on the voice of the client to convey quality items on time to the customers which can make better and proper formula of work. There is some categorize of classical theory suchRead MoreTheories of Classical Management563 Words   |  2 PagesThe classical approach were established and carried out in the early 1900centyry. Group of technician, manager and scientist came up with idea in order to reduce industrial dispute. They are Frederick Taylor-the theory of scientific management, Max Weber- theory of bureaucracy, and Henri Fayol – theory of classical management. Most of them theories were based on the principal for a comprehensive theory of management. Now I am going to discuss about perspective view of each theories. Frederick TaylorRead MoreClassical Theory : Theory Of Management Essay9754 Words   |  40 Pages1: Classical Theory: The traditional point of view underscores managing work and the need to run company beneficially. The viewpoint is called established in light of the fact the first works and commitments that include the canter of cutting edge administration hypothesis. There are three types of management in classical theory Scientific management, Administrative management and Bureaucratic management. Scientific management: †¢ Scientific Management, called Taylorism, it is a theory of managementRead MoreClassical Theory And Scientific Management Theory1767 Words   |  8 Pagescentury, classical management theory was proposed. This classical management theory maintains labours’ high level specialization, centralized decision making, as well as maximize profit. (www.businessdictioary.com ) The main two thoughts of classical theory are bureaucracy and scientific management. Nowadays some people argue that the classical management theory is no longer suitable for modern world and they are outmoded because of the business environment has changed. This management theory is not

Ethics and Compliance Free Essays

Ethics and Compliance Fabian Marrero, Kevin Martinez FIN/370 March 9, 2013 Norberto Molina Perez Ethics and Compliance In this paper we will as a team: Assess the role of ethics and compliance in your organization’s financial environment. Describe procedures your organization has in place to ensure ethical behavior. Explain how financial markets work in the United States. We will write a custom essay sample on Ethics and Compliance or any similar topic only for you Order Now Identify processes the organization uses to comply with SEC regulations. Evaluate your organization’s financial performance during the past 2 years, using financial ratios. Calculate the ratios for each year: Current, Debt, Return on equity Discuss the trend for each ratio and what it tells you about the organization’s financial health. The business code and ethics code at the company Lowe’s stores begins with the board of director’s right through to the newest of workers. The requirement to read and follow the code of conduct is vital for all who are associated or represented by the company. Compliance with governmental regulations involving ethics is valued by Lowe’s and held strong. The application of ethics financially, under section B of the code of conducts states: â€Å"employees and members of their immediate families should not have any financial interest, direct or indirect, in any organization that is or is seeking to be a supplier of merchandise or other property or services to the company† (Lowe’s, 2012). Areas of importance that are also covered in the codes pertaining to financial concerns are â€Å"payments to governmental officials or other persons, the importance of accurate books and records along with adhering to internal controls to financial reporting, protection, and proper use of company assets, public company reporting, and insider trading according to the code of conduct. † (Lowe’s, 2012). The possession of information or knowledge of a transaction or attempted transaction must be informed to the employee’s direct supervisor. There is a strong encouragement towards employees to utilize the business’s open door policy or simply by using the website at www. ethicspoint. com (Lowe’s, 2012). Any situations involving any executive officers such as principal executive officers, financial officers, are concern given charge to the general counsel and chief compliance officer. Zero tolerance is given for any retaliation towards any individual that goes against the reporting of any violations of the conduct codes. The ability of the exchange of previously issued financial assets from individuals to businesses is the main purpose of the financial markets in the U. S. The actual structure brings borrowers, investors, and intermediaries that put together the financial institutions and markets that put both together as a whole. Finance companies, insurance, investment companies, investment banks, are some of the organizations that can compromise the marketplace. The majority of the time individuals deal with commercial banks on a daily basis. The recession of 2008 what greatly due to some non bank intermediaries that made a great number of citizens remove their funds from financial marketplaces. Securities play a significant role in the marketplace in addition to these organizations. These markets are made up of primary and secondary markets. The primary markets are made up of new securities so firms may utilize them to raise capital to assist with financing. The transference of previously issued securities that investors move within each other is secondary markets. Securities can consist of common stock, preferred stock, equity, and debt securities. Finally, financial markets provide the money necessary by companies and individuals and create links between investors and corporations. Because of the stock market crash of 1929 the U. S. Securities and Exchange Commission was created. S. E. C. mission is to regain the confidence in investors in capital market by issuing information that is reliable with honest and clear rules. Under this commission any publically traded entity must disclose their financial information by law. This allows the investor the information necessary about selling, buying or even holding a specific security. Under the SEC regulations, publically traded organizations must disclose their financial information. This information provides investors common knowledge about buying, selling or holding a particular security. Last but not least, â€Å"the S. E. C. s primary responsibilities are to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation† (U. S. Securities and Exchange Commission, 2012). Lowe’s has been a publicly held company since October 10, 1961. Lowe’s list’s on the New York Stock Exchange with shares trading under the symbol LOW. The New York Stock Exchange is the largest financial industry brands in the world. Membership with the NYSE has made one regarded as a valuable property since 1868. In April 2006, the NYSE went both electronic and public that the exchange was a membership-only organizationâ €  (New York Stock Exchange, 2012). Since Lowe’s is a publically traded entity, it must file reports with the Securities and Exchange Commission. Some important documents such as, Annual reports, quarterly, current and any other reports necessary for the S. E. C. to properly evaluate the business and its use for investors. Financial reports must have accuracy and be in full compliance with the regulations of the SEC. Finance statements together with the independent registered accounting firm by the name of â€Å"Deloitte and Touche LLP† show that this practice â€Å"acknowledges adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934† (Lowe’s 2012). This basically means that this firm is agreeing to give their full assurance to the company that their finance reporting will be reliable and will present accurate financial statements for publishing. Reports to the SEC are as follows: Balance sheets, consolidated statements, statements of cash flows, notes to consolidated financial statements, statements of earnings. Serious violations from organizations of misleading information, fraudulent accounting practices, and even insider trading can cause SEC to use civil enforcement against a business for security law violation. EDGAR (Electronic Data Gathering, Analysis, and Retrieval system) is a automated collection and validation system that by law is required to file forms. â€Å"The primary purpose of EDGAR is to increase the efficiency and fairness of the securities market for the benefit of investors, corporations, and the economy by accelerating the receipt, acceptance, dissemination, and analysis of time-sensitive corporate information filed with the agency† according to the (U. S. Securities and Exchange Commission, 2012). Historical ratios in comparison to a business’s current period ratios to determine if a firm’s financial status is growing or in deterioration. Ratios illustrate a company’s performance and current ratios permit a company’s liquidity by putting in comparison current assets and current liabilities. Measurement of debt ratio shows the amount of assets financed by borrowing. The rate of return earned by common shareholders’ in the firm is known as return on equity, and finally accounts receivable turnover ratio shows the amount of times that it rolls over throughout the year. Throughout 2010 the economy was demonstrating sings of recuperation, but increasing rates of unemployment were visible in the home improvement industry. A decline in the value of property, tight credit for consumers, and disposable income was slow to grow. Illustrations below show the continued growth in the business. Growth and stability and above all, growth in the long run show that Lowe’s has expectations to maintain a flow of cash throughout the next few years. Financial Performance of Lowe’s: Current Ratio | Debt Ratio | 2010 | 2010 | 3005000 = 2. 37 times | 13936000 = 42. 2% | 13936000 | 33005000 | | | 2011 | 2011 | 33699000 = 2. 16 times | 15587000 = 46. 3% | 15587000 | 33699000 | Return on Equity | 2010 | | 1783000 x 4815 x __1__4818 3300500 1-0. 42 | 36. 53 x 0. 0015 x 1. 72 = 9. 4% | | 2011 | | 2010000 x __50208__ x ___1___50208 33699000 1-0. 463 | 40. 03 x 0. 0015 x 1. 86 = 11. 2% | Accounts Receivable Turnover Ratio 2010 | 2011 | 32250000___ = 0. 42 days | 34790000___ = 0. 49 days | 208000/365 days | 193000/365 days | | | To finalize the company we have chosen continues to follow its ethical behavior tradition within the home improvement world. The business will keep with updating codes of ethics as the demand for the best environment for customers is what they strive for. SEC assures that Lowe’s continues to follow old and new regulations always. The financial performance is visible proof of their continued effort for improvement. With the information given we can clearly see that Lowe’s will keep in the home improvement industry as one of the major players in the years to follow. References Lowe’s. (2012). Investor Relations. Retrieved from http://phx. corporate-ir. net/phoenix. zhtml? c=95223p=irol-IRHome Lowe’s. (2012). Lowe’s 10-k annual report. Retrieved http://phx. corporate-ir. net/phoenix. zhtml? c=95223p=irol-reportsannual New York Stock Exchange. (2012). History. Retrieved from http://nyse. nyx. com/history U. S. Securities and Exchange Commission. (2012). What we do. Retrieved from http://www. sec. gov/about/whatwedo. shtml How to cite Ethics and Compliance, Papers

In this study, I investigate the affects that runn Essay Example For Students

In this study, I investigate the affects that runn Essay ing has on reducing the risk of some healthproblems. I am doing this because I run about 40 to 60 miles per week, and my family has a history of health problems. For instance, my grandfather suffered a heart attack, and he also hadcancer when he was about the age of 50. Furthermore, my grandfather, on my dads side of thefamily, has also had triple bi-pass heart surgery from a heart attack he has had recently. Here, I present information from some sources that talk about the affects that runninghas on reducing health risks. My sources agree that running, and some other aerobic exercises,reduce the risk of: Diabetes, diverticular disease, heart decease, several types of cancer, andeven common sicknesses like a cold. One source agrees that running reduces the risk of diabetes. Jim Harmon writes, inSports Illustrated, about Bruce Leonard, a marathoner with a masters degree in public health. Bruce Leonard went to study the Zuni Indian tribe. This tribe has had a bad history of diabetesuntil they started to run. Leonard said, After the Zuni tribe started running, many Zuni were ableto reduce or eliminate their diabetes medication.(5) My research also reveled that diverticular disease can be reduced in men that run. Forinstance, Marty Munson and Teresa Yeykal writes in the article Outrun trouble which says, guyswho racked up the most ours doing vigorous exercise reduced their risks of diverticul ar deceaseby a third.(38) They also say its good advice to make your lifestyle to consume high fiber.(38)I found that running can also reduce the risk of heart disease. The article Run for your life talksabout Mitchell H. Whaley, the director of adult physical fitness program at Ball State University. Heanalyzed data collected from a group of men, which included runners. Mitchell Whaley found thatindividuals with low aerobic capacity have a higher risk of developing premature coronary arterydecease that those who were more fit.(47) The article also talks about Martha L. Slattery, Ph.D.,from the University of Utah Medical School. Maria Slattery also found that running is a goodpreventive measure for heart disease. She says, The greatest increase in protection was betweenthose men who were sedentary and those who had some activity.(48)Another source I found says that running can help prevent many types of cancer. In thearticle Running for your life, Doctor Leonard Cohen talks about ho w running helps reduce colon,breast, cervical, uterine, and ovarian cancer. Cohen says A growing body of evidence suggestthat physical activity reduces the risk of cancer, particularly colon and breast cancer.(23)Overall, my sources state that even though running isnt a cure, it is definitely apreventive measure for many health problems. They all agree that running can do no harm, andthere are many positive aspects. After doing this research, I am going to continue running or atleast some king of aerobic exercise, hoping that it will prevent me from following in mygrandparents footsteps.