History of business Assignment Example | Topics and Well Written Essays - 250 words

History of business - Assignment Example orkers in most cases remained unmotivated; he also noted that most of the workers who were coerced to perform repetitive tasks usually worked at a slow rate; he called this behavior ‘soldering’. Taylor argued that all tasks that an employee was assigned could be organized in such a way that the productivity of the worker would increase and that his scientific theory of management was more effective than the usual ‘initiative and incentive’ method, which was based on increasing productivity by placing responsibility on the worker to figure how to do it. In order to establish the best possible way to carry out a job, Taylor carried out some experiments, which he labeled time studies or as time and motion studies. In these studies, he used a stopwatch to time a worker’s motions in order to determine the most effective way to carry out a job based on the way that took the least time. He was an American businessman who founded the standard oil firm that led in America’s oil industry. He contributed a lot to the oil and petroleum industry. He operated the oil firm until 1870 when he retired. He was a Scottish American businessman who contributed a lot the growth and expansion of the steel industry in the U.S during the 19th century. In addition, he was a renowned philanthropist in that he utilized his wealth to help