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Management 101: Business History
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Management 101: Business History
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25 Questions

1. Father of Scientific Management. Studied individual tasks to make them more efficient. Used a stop watch to measure time it takes to complete a task.

2. Congress established a national banking system.

3. Control all aspects of an industry from raw materials to retail.

4. President. Standard oil - american tobacco - us steel.

5. 1929 stock market crashed

6. GM - Ford - and Chrysler dominated the market. GM=50% share

7. Income people could do with as the pleased.

8. Inflation continued in the absence of robust economic growth.

9. Few companies combines forces to control production of sale of a product.

10. Reduction in diversification. Reduction in layers of management.

11. Business - not independent trade unions should look after the best interest of the workers.

12. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.

13. Developed the assembly line. Anti Union. Model T.

14. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.

15. Provided national advertising and mass production

16. President;FDIC;Closed all banks on first day in office;only president to serve four terms.

17. Most women were stalled at middle management levels.

18. Sought to break up the control of big business to create more opportunities.

19. Worked divided by specific tasks. i.e. accounting - production - ect.

20. Formalized business practices by standardized management practices.

21. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.

22. Business leaders sought to achieve cooperation among business - labor and government.

23. Defense department became a significant source for scientific and engineering. Led by private firms and university.

24. Dominated the retail industry by mail order only selling.

25. Alliance among public agencies - private firms and trade associations to handle international competitions.

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