Table of contentsThe principle of scientific management: maximizing prosperity Fordism: the mass production system and the economic boomConclusionBibliographyFord's theory of Fordism and Taylor's scientific management are discussed in this essay from the point of view of their usefulness. for today's managers. I will separately examine how organizations implement aspects and elements of these theories on a daily basis. I will then evaluate the effectiveness of these theories in the 21st century. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayThe Principle of Scientific Management: Maximizing Prosperity Frederick Winslow Taylor was an engineer by training. He joined the Midvale Steel Works as a laborer and quickly worked his way up to foreman and later chief engineer. He was then employed at the Bethlehem Steel Works, then became a consultant and devoted himself to the propagation of his ideas. Taylor was the founder of the idea called scientific management, which he described as follows: “The principle of management should be to secure the maximum prosperity of every employee. For the employer, maximum prosperity means not only large short-term profits, but also the development of all aspects of the business towards a state of permanent prosperity. For employees, “maximum prosperity” means not only immediate higher wages, but also personal development so that they can effectively perform the highest work for which their natural abilities suit them. To understand Taylorism and the principle of scientific management, you need to know What prosperity is, prosperity is defined as “a condition of success, fulfillment or prosperity, particularly on the financial level; chance'. Taylor believes that all elements of management and workers in an organization must work together to effectively achieve maximum prosperity. Taylor set out to find the solution and originally thought it could be achieved by a systematic study describing the best way to do a given job, and then by a systematic study of managing in the most efficient way. effective in controlling workers. Taylor's main idea was to reduce costs and increase production. Taylor made a huge impression on business and industry in America where it was clear that any incompetent man could be installed elsewhere to use his abilities instead of being fired. Taylor's theory of scientific management is still present today and is constantly used by businesses and businesses. responsible for the organization. Each manager in today's organizations will implement his or her own management ideas, but will still need to use elements of proven theories, and Taylor's is one of the most successful theories. McDonald's is an example of a 21st century company that uses elements of scientific management theory. McDonalds has adapted a standardized process that allows any employee to do the task of preparing a hamburger. This standardization of how to prepare the hamburger has proven to be very effective for McDonalds, as it means that any employee within the franchise can take on the role of preparing the hamburger if the designated employee is concerned. Furthermore, another example of McDonalds implementing scientific management theory within its organization is rewarding its employees for achieving their goals. McDonalds has a service rewards program that celebrates andrewards employees who achieve key milestones. Taylor said a non-incentivized salary system would not encourage employees to go above and beyond in their work, because no matter how much they do, they are still paid the same as their colleagues who do their bare minimum. , McDonald's establishes competitive salary and promotion programs, hard work, dedication, motivation and results are recognized and rewarded at McDonald's. The way employees are rewarded varies from a simple kudos from their management team to a company-wide praise for receiving employee of the month. Finally, scientific training is one of the most important principles of Scientific Management. Taylor says companies need to train their employees scientifically and not let them train themselves on the job. This element of Taylor's theory can be seen within McDonald's management, they invest £43 million in training and development each year and are consistently recognized as an effective training program by experts. Employees are trained from the start and training begins on the first shift. Employees must take 3 tests in the first month. High-quality testing and work therefore creates efficient, high-quality food production. From this example we can see that scientific management is a theory that is still used today in one of the largest organizations in the world. Fordism: mass production system and economic boom Henry Ford was the founder of Ford Motor Company, a young Ford showed an Interest in mechanics, at the age of 12 he spent the majority of his time in a workshop a self-assembled mechanic, at age 15 he had assembled his first working steam engine. He then apprenticed to a mechanic in Detroit where he learned more of the trade. After completing his apprenticeship, he spent a year installing and repairing Westinghouse steam engines. In 1891 he was employed as an engineer at the Edison Illuminating Company, 2 years later he became chief engineer. Here he would form a relationship with Thomas Edison, who would remain Henry Ford's mentor and friend throughout his life. Ford completed his first Ford car, the Quadricycle, in 1896. He then had to resign from the Edison Illuminating Company and continued building cars for a few years. However, in 1901 he founded his second company, The Henry Ford Company, which later became the Cadillac Automobile Company. On June 16, 1903, Ford and 12 others invested $28,000, the equivalent of $830,000 today, and formed the Ford Motor Company. In 1919, he bought out the shareholders to have full autonomy of the company. Henry Ford created Fordism. Fordism is a term used to describe, firstly, the system of mass production or, secondly, the post-war economic boom and the associated political and social order in advanced capitalism. It refers to an economic lifestyle developed around the mass production of consumer goods using assembly line technology. Fordism is “the eponymous manufacturing system designed to produce standardized, low-cost goods and offer its workers wages decent enough to purchase them.” The success of Fordism stems from three major principles set out by Ford: Product standardization (nothing is done by hand, but everything is made by machines controlled by unskilled workers) The use of assembly lines, which use special tools and/or equipment to allow unskilled workers to contribute to the finished product. Workers receive wages "