Classical Management Theories - 1568 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†¦While the differences between these two management theories are extensive, there are also some notable comparisons. Scientific Management and Human Relations both sought to improve productivity; Scientific Management by minimizing wasted movements, and Human Relations by developing good working relationships. Both these theories did provide some worthy results; Taylors Pig Iron Experiment, after many trials, succeeded in a productivity increase of 200% (Wrege and Perroni, 1974), while the Hawthorne Experiments saw a 112% increase in output by workers, which became known as the Hawthorne Effect. An important similarity that can be found between these two theories is their approach to control their teams. A Scientific Management based approach would see a manager avoid contact with their workers and treat them as economically motivated automatons. (Rose, 2005) On the other hand a Human Relations approach to the situation would see a manager try to understand any problems of the worker and encourage them to work through motivation. (Bartol, Martin, Tein and Matthews, 2001) Why these may seem like contrasts between the theories, what should be noted is the desire of both approaches to control their t eams; one by avoiding human relationships and one through human relationships. (Rose, 2005) Scientific Management is often condemned for engaging a rigid and generalised approach, as it applied the sameShow 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 on increasing worker productivity. Developed by Frederick Taylor, the classical theo ry 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 MoreThe Classical Theory Of Management2103 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 notRead MoreClassical Management Theory Essay2093 Words   |  9 PagesClassical Management Theory Early Management Theories Early Theories of Organizations emerged mainly for military and Catholic Church. The metaphor of the machine was dominant, where organizations are viewed as machines. Therefore, the organizational application was, since workers behave predictably (as machines do rarely deviate from the norm), management knows what to expect, and workers operating outside expectations are replaced. Classical Management Theories There are three well-established

Mary Wollstonecraft Shelley s Frankenstein - 915 Words

Frankenstein By: Mary Wollstonecraft Shelley The fictional story of Frankenstein written by Mary Wollstonecraft Shelley in 1816 was adapted into a graphic novel in 2008 to reimagine this literary masterpiece to appease the modern reader s of the world. The story of the novel follows an explorer from europe towards the arctic circle to discover a great discovery to become famous. As they reach the arctic, they meet Victor Frankenstein stuck on a piece of floating ice. After saving him Mr. Frankenstein tells the explorer his story of how he created a â€Å"monster† from nothing but parts of corpses to create life, and with this creation of artificial life he grew horrified of what he had done and runs in fear of his creation, because of this the creature did not learn of how to be â€Å"human† and became hateful and evil from his experiences which in turn he killed Victor’s younger brother then chose to ask Victor to create him a wife to have a family and learn how to love but after a long and tedious task Vi ctor destroys the female and the creature kills Victor s new wife which lead him to the arctic in search for the monster.â€Å"Dr.† Victor Frankenstein is guilty of multiple charges of murder, and desecration of bodies of the passed, reasonable doubt and â€Å"child† abandonment and other crimes that would take too much of the court s time to list. The hubris of Victor Frankenstein led him to do inhuman acts to accomplish his goals. The actions took towards his goals were grave robbing,Show MoreRelatedTeagan Mcguire. Mrs. Massey. English 3/ 1 Period. 10 April2017.1378 Words   |  6 Pages2017 Mary Shelley Mary Shelley is a great famous writer that many people look up to. Her writing touched many people across the world and is still touching people today. Most people know of her through the great work of Frankenstein, Mary Shelley was a great woman that inspired many in today’s society and whose success as a young writer is unprecedented. Mary Shelley was born August 30, 1797 Somers Town, London, United Kingdom (Johnson). Her mother died ten days after her birth. Mary neverRead MoreMary Shelley: Her life influence in Frankenstein. Mary Shelleys life hardships show up subtley throughout her novel Frankenstein.1243 Words   |  5 PagesMary Wollstonecraft Shelley endured many hardships during her life. Some of these included her mother dieing during childbirth, her loathing stepmother, and later in life, the death of her beloved husband. Although she maintained a strong relationship with her father, it did not cover-up the absence of a strong maternal figure. Mary Shelley s novel Frankenstein, was influenced by the pain she encountered in her life. Mary Wollstonecraft Godwin was born on August 30, 1797 to the couple of Mary WollstonecraftRead MoreMary Shelley1066 Words   |  5 PagesMary Shelley was born on August 30, 1797, becoming a distinguished, though often neglected, literary figure during the Romanticism Era. Mary was the only child of Mary Wollstonecraft, a famous feminist, but after her birth, Wollstonecraft passed away (Harris). Similar to Mary’s book Frankenstein, both her and Victor’s mothers die when they are at a very young age. Mary’s father was William Godwin, an English philosopher who also wrote novels that would inspire Mary in the late years of her life (Holmes)Read MoreMary Shelley ´s Frankenstein; Or, the Modern Prometheus, an Analysis of the Subtitle1219 Words   |  5 Pagesof creation.† (Shelley 37). Ab initio Victor Frankenstein, the main protagonist, is being put on a level with Prometheus through the subtitle. An indication that Mary Shelley did indeed have the myth in mind as she wrote the novel, is not only her subtitle, but moreover the parallels between the Prometheus myth and Frankenstein, which are undeniable. The title itself gives a lot away of the story which follows. It links the modern world with the ancient Greek myth. Victor Frankenstein â€Å"steals† theRead MoreMary Shelleys Life Of Literature Essay1407 Words   |  6 Pageson (SparkNote on Frankenstein). This famous quote said by Frankenstein, in Mary Shelleys Frankenstein, which leaves a lasting impression on the reader was intended by Shelley. Literature was a major part of Mary Wollstonecraft Shelleys childhood and adulthood. Mary Shelleys parents brought literature to her from the day she was born. Mary Wollstonecraft Godwin, as she was named at birth, was born to two intellectual rebels of their day, William Godwin and Mary Wollstonecraft, on August 30th,Read MoreAnalysis Of Mary Shelley s Frankenstein 1527 Words   |  7 PagesShelley s narrative is seen to symbolize romantic fears, offering a tale of certain demise, one that gives technology negative connotations in the form of the creature whom is represented as an outcast of society. To emphasise this, the sublime settings in the text, provide a space where the marginalised can be heard, however, for in contrast to the power of beauty which works to contain and maintain social distinctions, the sublime in Frankenstein opens the way for the excluded to challenge theRead MoreFrankenstein : The Cunning Mind Behind Dr. Frankenstein1776 Words   |  8 PagesMary Shelley was an essayist, biographer, short story writer, and novelist. (Mary Shelley - Bi ography.) She composed the widely known novel Frankenstein, after a restless night of her imagination plaguing her. Although, at first people only knew Mary for Frankenstein and her efforts to distribute her departed husband s works. Soon during the 1970’s her other novels were given recognition. Mary Shelley has an extensive list of novels, other than Frankenstein, some of which are mildly popular, ValpergaRead MoreAnalysis Of Mary Shelley s Frankenstein 1306 Words   |  6 Pagestragedy. Mary Shelley has been surrounded by death her entire life and she felt like a monster, such as the one in her novel Frankenstein. She felt responsible for the tragedy around her. Deaths around Mary Shelley In London, England, Mary Shelley was born Mary Wollstonecraft Godwin on August 30, 1797, and her parents were of high status at that time. Her father was William Godwin, a famous philosopher and an author best known for his books Caleb Williams and Political Justice. Her mother Mary WollstonecraftRead MoreFrankenstein : The Cunning Mind Behind Dr. Frankenstein1763 Words   |  8 Pagesyears, people have thought of Frankenstein as the monster, though the idea could be easily understood, Frankenstein is truly the doctor. The cunning mind behind Dr. Frankenstein and his gruesome monster is an author known by the name of Mary Shelley. Mary Shelley faced many despair filled moments throughout her life, events including, miscarriages, suicides, and affairs. These events marked the beginning of Frankenstein and with it a new era of writing. Mary Shelley was an essayist, biographer, shortRead MoreAnalysis Of The Poem Deja Williams 2890 Words   |  12 PagesDeja Williams  †¢ Introduction ​Mary Wollstonecraft was born April 27, 1759, in London. She was the second child and eldest daughter of Elizabeth Dixon, who hailed from Ballyshannon, Ireland. Mary’s father, Edward John Wollstonecraft, was a handkerchief weaver. He decided to become a gentleman farmer after he got an inheritance from his father, a master weaver and residential real estate developer, but farming was a bust. The family moved seven times in ten years as their finances deteriorated. Edward

Gamestop Analysis Free Essays

There are a lot of companies worth investing in around the country and the world. An investor cannot simply put his money into a company without doing some research beforehand. Using ratios, balance sheets, income sheets, and other financial information, a potential investor has a lot of resources to use to ensure a good investment is made. We will write a custom essay sample on Gamestop Analysis or any similar topic only for you Order Now Considering the financials of each company can be reviewed from year to year, a potential investor is able to research trends from year to year of whatever company they might want to invest in. Based on my general knowledge of the gaming industry, I would consider investing in GameStop because gaming seems to be a booming industry. With all of the commercials on television for new releases, new consoles being developed every couple of years, and even competition gaming it seems that this industry is going to continue to climb. Since GameStop specializes in this industry and no other, I would consider it a safe investment even without doing any research on the company. GameStop is a small retailer that specializes in video game hardware and software. The company also runs Kongregate, which is an online browser based game website allowing players to play smaller games. Kongregate makes its money using micro transactions, which are smaller transactions within the games. GameStop sells new and used hardware and software games on console, and also sells new computer based games as well. GameStop has over 6,500 actual locations spread throughout multiple countries along with a website through which more business is conducted. It is a leader in the gaming industry and is ranked 262 on the Fortune 500 list. Its main competitors are retail giants such as Wal-Mart and Best Buy who sell the same blockbuster titles as well. A horizontal analysis of the company shows the following for three years ending January 2011. GameStop Income Statement Year Ending200920102011 Sales100%100%100% Cost of Sales74. 2%73. 2%73. 2% Gross Profit25. 8%26. 8%26. 8% Operating Expenses7. 7%7. 4%7. 4% Income before tax7. 2%6. 5%6. 6% Income taxes2. 7%2. 4%2. 3% Net income4. 5%4. 1%4. 3% The horizontal analysis is important when researching any company because it compares the company’s numbers side by side for two or more financial periods. Basically, you can look over multiple years once the analysis is put together and see where the company has improved and declined, and whether or not the profits have gone up or down from year to year. In the example of GameStop, we can see that gross profit increased slightly from 2009 into 2010 and stayed at the same number going into 2011. The horizontal analysis is the quickest way to look at the trends from year to year when you want to see a high level overview of a company, and deciding whether it warrants more research or not. Over the past few years GameStop has shown a small drop in their net income, which would indicate the trouble the economy has been having over those years. The cost of goods did decrease while gross profits increased each year, which means they were able to acquire goods for less and sell for more. This shows that their pre-owned game sales likely increased due to the economy. Operating costs did drop slightly going into 2010 and maintained the same cost going into 2011, which means they did not put much more into their operations, but it also means they were probably unable to find a way to cut costs. This can be difficult if they rent because some places have a fixed amount of rent while others may rise and lower depending on realty in the various areas. The current ratio for GameStop year ending 2010 was 1. 28 whereas the year ending 2011 dropped to 1. 23. This seems to indicate that that the company’s ability to pay all of its short term liabilities fell slightly. This could indicate a drop in assets or even that the company reinvested in expanding its operations. Because the ratio dropped over the course of the two years does not necessarily mean that the company is not still in good standing, there are many things that could affect the ratio. From the balance sheets, it looks like the assets did not increase as much as the current liabilities, meaning operations could have been expanded while sales fell, or even that business slowed down and operational expenses could have increased. Overall, GameStop’s assets did increase from 2010 into 2011 while the liabilities decreased slightly. The quick ratio showed a slight decrease from 0. 5 in 2010 to 0. 51 in 2011. This appears to be mainly caused by a rise in inventory that was not able to be sold by the end of the year. At the year end of 2010 the company’s inventory was marked at 1,052. 6 million dollars, and at year end in 2011 it was marked at 1,257. 5 million dollars. Sales of new hardware fell from 2010 into 2011 because no new systems were released. The sales declined from 20 09 into 2011 by 140. 2 million dollars, which would account for the company’s quick ratio declining between the two years. GameStop’s gross profit for new hardware actually increased by 7. % going into 2011 which would indicate that there were drops in the cost of the new hardware. There was actually an increase in the fiscal year of 2011 of 4. 4%, which would indicate that even with the lower numbers the company actually did better for the previous year. The cash to current liabilities ratio also dropped slightly from 0. 55 in 2010 to 0. 41 in 2011, which simply indicates a small drop in liquid assets that GameStop has available. After looking at the balance sheet between 2010 and 2011, the company had a significantly smaller amount of cash on hand which can explain the drop. This does not mean that GameStop is doing any worse as there are several explanations for this. If a company has too much cash on hand, it can mean that they are not expanding their business or trying to reinvest in the company to try to earn more revenue. Most companies will not keep a lot of cash on hand, so the cash to current liabilities ratio should not be given too much weight when considering an investment. After looking through the company’s financials, it seems that all of the numbers here are essentially straight forward. I do not see anything outside of normal reporting and a typical year that would cause the numbers o be either inflated or deflated within the year end reports. The company’s assets barely rose between 2010 and 2011 and there was almost an equal fall on the liabilities which helped keep the company somewhat balanced. Based on the most recent numbers, it seems that GameStop had less assets on hand that could be considered liquid. This is likely due to the increased inventory on hand that was not sold during the fiscal year. Even though the company technically had more assets, less of it was considered liquid because it was in inventory, less current assets, a drop in intangible assets, and a rise in current liabilities. GameStop went from 1,655. 7 million in 2010 up to 1,747. 8 million in 2011. The factor that made up the bulk of this difference was accounts payable, which indicates that there were probably loans taken out to cover the expansion of the company. Since the only real direct competitors of GameStop are giant retailers like Best Buy and Wal-Mart, they probably have more liquid assets available. GameStop does not have much in the way of liquid assets because they are still working on expanding even more. Between 2010 and 2011, total store numbers increased from 6,450 to 6,670. This is why cash and liquid assets are lower in 2011, because the company has been expanding and working on building more revenue up. It seems that GameStop is continuing to reinvest in itself by expanding and making the company available to more consumers. I think that GameStop would be a good company to invest in, and I would personally make some sort of investment if I had the resources to do so. From what I can gather by looking at the balance sheet, sales have steadily increased over the past few years and the company has been expanding. Since GameStop is working toward expanding and improving its business, it is a safe assumption that revenue should increase in the future, especially when new consoles are eventually introduced into the market from Microsoft and Sony. The only risk that I see with GameStop is that their liquid assets seem to be decreasing from year to year, at least in the past few years. This is probably mostly due to an increase in buildings, property, fixtures, and the hiring of new employees to work in the new locations. If they keep expanding and the profit margin keeps shrinking it will come to the point where the company starts losing money. I would really suggest waiting at least a quarter to see if trends improve and advising to invest if the profit did increase over that quarter. Doing the research on a company you are considering investing in is completely worth the time required to do a thorough analysis of the company. Once the research has been completed, you will be able to make a fair analysis of the company simply utilizing information available provided by whatever company you are investigating. By running a horizontal and ratio comparison, a company’s financial portfolio becomes almost transparent and trends, profits, losses, and expansion can all be seen at the top level view. References: GameStop. (2011) About GameStop. In News from GameStop. Retrieved November 1, 2012, from http://news. gamestop. com/about_us Gamestop. (2011) Annual Reports. In GameStop Corporate Information. Retrieved November 1, 2012, from http://phx. corporate-ir. net/phoenix. zhtml? c=130125p=irol-reportsannual Walther. (2012). Principles of Accounting: Volume IÂ  (1st ed. ). San Diego, CA: Bridgepoint Education, Inc How to cite Gamestop Analysis, Essay examples