International Trade and Finance Speech Essay Example for Free

International Trade and Finance Speech Essay This speech delivered by the Speaker of the House to a group of reporters surrounding the topics of international trade, foreign exchange rates, import surplus and how they each impact different constituencies. It will also explain why the government would not be able to restrict importation of goods from China, or if wanted to impose tariffs. The Economy and international Trade The United States was once the highest exporter in all the world. Today, the United States has a negative balance of trade, because of the fact that we now import more goods than we export goods. An example of an import would be oil. The oil that we have imported impacts our businesses and our consumers by making gasoline and other oil derivatives more expensive. This makes prices increase because consumers will have to pay for goods from the fact that the cost of driving will go up. This is a major reason why the government is trying to encourage the development of alternate forms of energy such as coal or natural gas. The goods that the United States imports are not always negative. American consumers have benefited greatly from the imports such as electronics or apparel that is made mostly in Asia. The cost of production for these goods are lower in China and most other Asian countries, making it much cheaper for Americans to buy these types of goods that are being manufactured overseas. The reality of international trade is that production will naturally shift to places where goods can be manufactured more efficiently and at a lower price. What the United States has to focus on is developing new technologies and products of higher quality. With a focus based on innovation and quality instead of labor costs. International trade has an impact on the country’s GDP, the financial markets, and importantly university students. The GDP of the United States becomes stronger when we export goods more than we import goods. If negative trade balances become consistent it can lead to deficits, which will in turn cause the government to borrow more. If the government borrows more this will have an impact on the financial markets which could in time make it more costly for the United States to cover all its deficits. We need to promote our exports in order to help the GDP and make our country more impressive to investors. A healthier economy will create enough employment for those needed, especially university graduates that will be trained for the field. The quotas and tariffs regarding the government’s choices has a direct impact on our trade and the relations that we have with other countries. Reducing tariffs and participating in free trade agreements helps our export businesses. This is a reason why our government has in the past worked for establishing trade agreements with countries as South Korea, Panama, and Colombia. When a free trade agreement takes place the trading partners will erase their quotas or tariffs against products from America, this makes it easier for us to send our products to those countries. Trade is a two way engagement, where both are finding a way to benefit, with consumers benefiting as well and our exports getting higher. Foreign exchange rates are the rates of one type of currency converted to another. Such as the rate for exchange between American dollars and Japan’s Yen which is 76 Yen per dollar. Some currencies are fixed with others. The rates of floating currency is determined by the supply and demand. An example is if the European demand for the dollar increases, the supply and demand relationship between them will cause the price to increase of the dollar in relation to the euro. There are many factors that affect exchange rates that include interest rates, unemployment, political instability, inflation, and GDP. When our GDP becomes higher and our exports become level with our imports, the stronger our currency will be and we will have a better overall financial health. There are some people that believe in protectionist policies that include restricting goods that are coming in from China and several other countries, including imposing tariffs that would increase costs for purchasing of goods in the United States. This kind of policy would be populist and fueled with the good intentions of trying to protect our American jobs, its actual consequences would be an elevating trade war with an opposite effect. History proves that when governments have attempted to restrict trade and enforced protectionist measures, other countries will attempt to retaliate and adopt similar policies. An example is the Smoot-Hawley Tariff Act of 1930, which broke records by increasing tariffs on 25,000 goods which had an end effect of reducing imports and exports by 50% as trade partners began with similar style tariffs. This will translate into more unemployment as companies that will export their goods will see a drastic demand drop. Restricting imports from China woul d bring drastic measures from the Chinese government, and our companies would struggle as they would be unable to export goods to that part of the world. References Colander, D. C. (2010). Macroeconomics (8th Ed.). Boston, MA: McGraw-Hill/Irwin International Trade, ISSN 0020-7810, 2011, Volume 45, Issue 1, p. 79 The Journal of Economics, ISSN 0895-3309, 2007, Volume 21, Issue 3, p. 105 Foreign Policy, ISSN 0015-7228, 11/2003, Issue 139, p. 20 The American Foreign Trade, ISSN 0002-8282, 12/1928, Volume 18, Issue 4, pp. 706 713

Individual and Society During the Great War Period :: Essays Papers

Individual and Society During the Great War Period The concept of nationalism amongst European countries grew throughout the19th century and was maintained during the Great War. People began to see themselves as part of a nation, which came before the individual. As a result of this, individual freedoms, rights, and ideas were dismissed in order to solidify the nationalistic society. Nationalistic attitudes were implanted in the minds and hearts of the public by way of propaganda, education, and unification. People were under the belief that unification was necessary for the progression of their country, and were willing to give their lives for this ideal. This ultimately led to the beginning of the Great War. The imposition of national unity limited people from being individuals, separate from the whole of society, with their own beliefs, ideals, and freedoms. Nationalism purposefully limited them by creating a central norm which not all people were willing or able to adhere to. People's rights and freedoms were slowly whittled away at by the states entrance into their lives. The state did this in many ways. The impression of a distinct language and culture were done through the use of schools. They also accomplished this through programs and common goals. As a result of the growing number of schools and literate people, printed materials advocating nationalism and patriotism aided in this development.(1)Patriotism and loyalty to the state were instilled at an early age in the hope that the child would carry them through to adulthood. People's trust and dependence on the government increased during this period, increasing its power and influence over their lives. People believed that they were becoming unified in order to protect their common freedoms and their country's opportunity for progression. This unification of individuals into one body gave them the strength of a common bond. This would cause them to stand behind their nation, and put it above all else. The feelings that nationalism ignited within people, such as patriotism and loyalty to one's country, both aided in the development of World War I, and were used as ammunition by the rulers to enhance people's willingness to give their lives to the country through battle. People no longer viewed themselves as individuals, but rather, part of the nation. During the Great War, individual needs were set aside for the good of the nation. This was carved into the minds and hearts of the soldiers as well as those that were back at home.

Utos Ng Hari

JULIUS MARCOS SISON #381 Coloong II, Valenzuela City Email Address: [email  protected] com Contact Number: 09215649835/09357762293 OBJECTIVE To utilize the knowledge I produced in the field of Mathematics major in Business Application, and to show my skills and to perform my suitable ability in your company. PERSONAL BACKGROUND Birthday:July 02, 1994 Birthplace:Valenzuela City Age:18 years old Gender:Male Height:5’5† Weight:55 kg. Religion:Roman Catholic Citizenship:Filipino Languages:Tagalog and English Blood Type :(O) EDUCATIONAL ATTAINMENT Tertiary :BULACAN STATE UNIVERSITYBachelor of Science in Mathematics (Business Application) Malolos, Bulacan 2010-Present Secondary:POLO NATIONAL HIGH SCHOOL Valenzuela, City 2006 – 2010 Primary:Coloong Elementary School Valenzuela, City 2000 – 2006 RELEVANT SKILLS * Business Oriented * Efficiency in Microsoft Application such as Ms. Office and Exel. * Negotiation Skills and sound communication skill to interact with customers. ACHIVEMENT * Best Marketing Booth in the Marketing Trade fair February 20, 2013 TRAININGS AND SEMINARS ATTENDED * Career Building for On – the – Job Trainees AVR – Federizo Hall Bulacan State UniversityFebruary 21, 2013 * Formulating of Marketing Strategies : A Mathematical Strategies AVR – Federizo Hall Bulacan State University February 19, 2013 * The Role of Statistic in Business Planning AVR – Federizo Hall Bulacan State University February 21, 2012 CHARACTER REFERENCE Mr. Joselito S. Roque Instructor Bulacan State University – College of Science Mrs. Lucita M. Santiago Teacher Malinta Elementary School Mr. Wilfredo Ramos Brgy. Chairman Coloong II, Valenzuela City I hereby certify that the above information are true and correct to the best of my knowledge. JULIUS MARCOS SISON Applicant

Frederick Taylors Scientific Management - Free Essay Example

Sample details Pages: 9 Words: 2574 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Argumentative essay Level High school Did you like this example? Shannon Crilly13321480 Q.2 Frederick Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was for a different time and a different place. Discuss. I agree that Frederick Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ undoubtedly belonged to a different time and place. In this essay I will express why I believe this to be true. To do so, I will begin by outlining where the idea originated from, and what exactly Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ consists of. Following this I will discuss the reasons why I believe that this system was indeed for a different time and place, and I will compare it with systems that I believe to be more applicable to modern managerial work, for example Henry Mintzbergà ¢Ã¢â€š ¬Ã¢â€ž ¢s views on the Managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s roles. I do however, also believe that there are aspects of Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å "scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ which can be seen to operate well in managerial work today, and so I will also discuss the ways that I see this to be true. A manager is a person who is in charge of an organization or one of an organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s sub-units. They are responsible for controlling or overseeing a group of individuals, and they allocate, direct and account for resources. Their main duties are to plan, organise, lead, and control. The principal object of management should be to secure the maximum propensity for the employer, as well as the maximum propensity for each employee (Taylor, 1911). Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s analysis of management revealed that à ¢Ã¢â€š ¬Ã‹Å"unscientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was the fundamental problem of the late years of the 19th century, around the time of the end of the à ¢Ã¢â€š ¬Ã‹Å"Long Depressionà ¢Ã¢â€š ¬Ã¢â€ž ¢. At this time Taylor was working as a machine-shop labourer at the Midvale Steel Company of P hiladelphia, and his studies were based on his personal observations of the organization and execution of daily work tasks here (Fulop and Linstead, 1999). He realised that maximum efficiency wasnà ¢Ã¢â€š ¬Ã¢â€ž ¢t being achieved by workers as employers were paying the lowest wages they could and in return the employees was doing as little work as they could (Taylor, 1911). The majority of workers believed that the fundamental interests of the workman and the management were antagonistic (Taylor, 1911). Taylor believed that the greatest obstacle to cooperation between the workman and the management was the ignorance of the management as to what the workmanà ¢Ã¢â€š ¬Ã¢â€ž ¢s daily endeavour actually consisted of (Taylor, 1911). à ¢Ã¢â€š ¬Ã‹Å"Scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was developed on the contrary to this, where the interests of both the management and the workman needed to be viewed as one and the same à ¢Ã¢â€š ¬Ã¢â‚¬Å" where prosperity for the employer cannot be ac hieved in the long run unless it is accompanied by prosperity for the employee (Taylor, 1911). Taylor came up with a systematic approach to the study and design of work (Fulop and Linstead, 1999). There were four fundamental elements of this idea of à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ outlining the new duties of the management. The first being that they develop a science for each element of a workmanà ¢Ã¢â€š ¬Ã¢â€ž ¢s work, where before they simply used a general rule of thumb method (Taylor, 1911). Secondly the management themselves scientifically select and train the workmen. In the past the workman appointed his own work and trained himself to the best of his capabilities (Taylor, 1911). Thirdly the management heartily cooperate with the workmen, insuring that all the work is being done in accordance with the developed principles of the science (Taylor, 1911). Fourthly and finally, that there is an essentially equal division of both work and responsibility between the workmen and the management. The management take on the work for which they are better suited, where in the past the majority of the responsibility and virtually all of the workload were thrown upon the workmen (Taylor, 1911). At the time the system of à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was adopted by numerous companies in the United States, and it worked very well. Daily wages rose from 33% à ¢Ã¢â€š ¬Ã¢â‚¬Å" 100 % higher than surrounding companies who were still operating under ordinary management, and average output per man per machine doubled (Taylor, 1911). As time progressed however, flaws to the system surfaced, and what seemed to be more appropriate management systems were developed. One element of à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was that work activities were standardized and formalized to optimize execution of finely subdivided repetitive tasks (Fulop and Linstead, 1999), for example Henry Fordà ¢Ã¢â€š ¬Ã¢â€ž ¢s asse mbly line that was developed after 1914 is an extension of this principle (Drucker, 1999). In their book, Liz Fulop and Stephen Linstead point out how this isolating and repetitive nature of work tasks was seen by the workmen and the trade unions as à ¢Ã¢â€š ¬Ã‹Å"the ultimate dehumanizing and alienation approach to workà ¢Ã¢â€š ¬Ã¢â€ž ¢ (Fulop and Linstead, 1999). Workmen became dissatisfied, increasingly careless, and more frequently absent from their employment. Working in these in humane working conditions, caused many workers to suffer extensive psychological trauma and poor work life quality (Fulop and Linstead, 1999). Managers could see that demotivation from the never-ending monotony of the factory was bound to emerge in the long run (Fulop and Linstead, 1999). In todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s society employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s average intelligence has risen greatly, and people have become more aware of their value as human beings (Priestly, 2005). While à ¢Ã¢â€š ¬Ã‹Å"scientif ic managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ workers were viewed as working solely for economic reward, today people are no longer satisfied with receiving only fiscal reward for their work (Priestly, 2005). It was clear that managers needed to look for ways to make jobs more intrinsically rewarding à ¢Ã¢â€š ¬Ã¢â‚¬Å" so that the actual work itself would bring a reward of significance or trial (Boddy, 2005). Most early job redesign strategies were concerned with reversing the effects the over-specified, inflexible jobs that stemmed from Scientific Management, emphasizing making jobs more satisfying and challenging (Fulop and Linstead, 1999). The 21st Century has seen significant increases in access to technology and information. This is another reason why it is difficult to apply à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ to modern organizations. Organizations today process huge amounts of input, provided by satellite link-ups and the Internet, and employees no longer work in isol ated units but are literally connected to the organization in its whole (Priestly, 2005). With this swift technological growth the importance of reacting quickly to developments that may affect the organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s welfare is rising, and managers realise that it is not possible for them to control every aspect of employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s functions, making it imperative for the employees to use their own initiative (Priestly, 2005). This flexibility that must be sustained by modern companies does not comply with Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢, which required the work of every workman to be entirely planned out by the management at least one day in advance (Boddy, 2005). Lack of flexibility of workers can also be seen under à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ when workers became too highly specialized in their specific task, prohibiting their capability to adapt to new situations. Managers in the 21 st century require their workers exhibit flexibility as well as efficiency (Priestly, 2005). Henry Mintzberg also tackles many principles of Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ by comparing what he believes to be à ¢Ã¢â€š ¬Ã‹Å"folkloreà ¢Ã¢â€š ¬Ã¢â€ž ¢ and what he believes to be fact about the managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s job, from his point of view in 1990. The first principle he deals with is that à ¢Ã¢â€š ¬Ã‹Å"the manager is a reflective, systematic plannerà ¢Ã¢â€š ¬Ã¢â€ž ¢ (Mintzberg, 1990). He countered this by explaining how instead numerous studies have shown that the manager works at an inexorable pace, and that their activities are characterized by brevity, variety and discontinuity (Mintzberg, 1990). He backs up his claim with evidence from studies of U.S. foremen and of British top and middle managers, where his beliefs, which contradict Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s, can be seen to be true in these modern work organizations. Mintzberg also opposes à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ as a whole by saying that it is à ¢Ã¢â€š ¬Ã‹Å"folkloreà ¢Ã¢â€š ¬Ã¢â€ž ¢ that management is a science and a profession (Mintzberg, 1990). What Mintzberg suggests to be true today is that the managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s programs, including decision making and so on, are rooted deep with their brains (Mintzberg, 1990). With organizations becoming much more complex today, the managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s job is increasingly more difficult. Managers are overburdened with obligations and are forced to overwork and do many of their task superficially (Mintzberg, 1990). à ¢Ã¢â€š ¬Ã‹Å"Scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ concentrated on specialized functions of the organization, but Mintzberg saw that the characteristics required of effective managerial work are brevity, fragmentation and verbal communication (Mintzberg, 1990). As these are not what à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was prim arily concerned with, these characteristics have in fact impeded any scientific attempts to improve the managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s job (Mintzberg, 1990). Peter Drucker had a great amount of respect for Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢. In his article in the California Management Review, he declared that no matter how loudly Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s antagonists tried to proclaim their differences with him, every method during the past one hundred years that has shown any success in raising manual works productivity and real wages, has in fact been based on Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s principles (Drucker, 1999). This can been seen in à ¢Ã¢â€š ¬Ã‹Å"work enlargementà ¢Ã¢â€š ¬Ã¢â€ž ¢, à ¢Ã¢â€š ¬Ã‹Å"work enrichmentà ¢Ã¢â€š ¬Ã¢â€ž ¢ and à ¢Ã¢â€š ¬Ã‹Å"job rotationà ¢Ã¢â€š ¬Ã¢â€ž ¢ for example (Drucker, 1999). Despite this, Drucker did agree that in entering the 21st Century we needed to move past à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢. He expressed the factors which he considered to be successful in determining the knowledge-workerà ¢Ã¢â€š ¬Ã¢â€ž ¢s productivity. One of them being that the responsibility for knowledge worker productivity must lie with the individual knowledge workers themselves. They have to manage themselves; have autonomy (Drucker, 1999). Another being that continuous innovation must to be part of the work, and a third is that productivity of the knowledge worker does not solely depend on quantity; quality is at least equally as important (Drucker, 1999). Each of these are almost the complete opposite of the factors emphasized by Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢. Druckerà ¢Ã¢â€š ¬Ã¢â€ž ¢s knowledge worker system has proved to work effectively in the modern workplace, and an example of where its success can be seen is with a group of orthopaedic surgeons in a Mid-western city in the United States (Drucker, 1999). One of the pri nciples of à ¢Ã¢â€š ¬Ã‹Å"Scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ that I previously mentioned that it was heavily oriented to turning everything work-related into quantifiable dimensions, rather than relying on the à ¢Ã¢â€š ¬Ã‹Å"rule of thumbà ¢Ã¢â€š ¬Ã¢â€ž ¢ method (Ritzer, 1983). Fordismà ¢Ã¢â€š ¬Ã¢â€ž ¢s roots are based on Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s management model (Priestly, 2005). I will use the example that I previously mentioned of the assembly line. This is similarly oriented to a variety of quantifiable dimensions such as optimizing the speed of the line, and decreasing the price of the finished product (Ritzer, 1983). General Motors received increased sales and ultimately increased profits from the employment of this system. Although his theory retained the faults of Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s; little workplace democracy and alienation, after 16 years of implementing Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s scientific approach, Ford skilfully managed to sell more than 10 million cars, proving the success of the system (The Saylor Foundation, 2005). The auto industry has continued to thrive into the 21st Century, making use of new efficiencies and cost reductions (The Saylor Foundation, 2005). There are many other organizations today where elements of Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ can be seen to be employed effectively. Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s system strived for rationality and maximum efficiency. A typical example of an organization employing à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ in its production is the fast food chain McDonalds. The McDonalds workerà ¢Ã¢â€š ¬Ã¢â€ž ¢s manual includes every step-by-step detail that the staff must follow, from the precise cooking times and temperature settings for all products and equipment, to that precise instruction that the Grill men must put hamburgers à ¢Ã¢â€š ¬Ã‹Å"on the grill moving left to right, creating six rows of six patties eachà ¢Ã¢â€š ¬Ã¢â€ ž ¢ (Priestly, 2005). Speed, convenience and standardization are set in place of any creation in cooking or variety in choice (Ritzer, 1983). Uniformity is complete in every McDonaldà ¢Ã¢â€š ¬Ã¢â€ž ¢s restaurant, meaning that no matter what country in the world you are in, each on is using the same standard method to prepare food, promote the staff, and clean the floors (Priestly, 2005). This scientific system of managing every aspect of working life in this fast food chain is what has given them the ability to efficiently supply standard food and service around world and lead them to become the biggest restaurant chain on Earth (Priestly, 2005). While there is no doubt that it is this scientifically managed system that has led to McDonaldà ¢Ã¢â€š ¬Ã¢â€ž ¢s worldwide triumph, the flaws of the system are still to be seen. George Ritzer introduces the idea of the irony of the à ¢Ã¢â€š ¬Ã‹Å"irrationality of rationalityà ¢Ã¢â€š ¬Ã¢â€ž ¢ that is found in the workplace of McDonalds (R itzer, 2011). This means that what appears to be an extremely rational and efficient system, does in fact lead inefficiency, loss of control, and other irrationalities in the long run. Employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"McJobsà ¢Ã¢â€š ¬Ã¢â€ž ¢ are deemed dehumanizing, and provide little satisfaction or stability, and so it is no surprise that alienation, resentment and absenteeism are present (Ritzer, 2011). The fast-food industry have an enormous turnover rate of 300%, meaning that the average workers only lasts for approximately 4 months (Ritzer, 20011). This high turnover rate is of course inadmissible for any organization, as there is the increased costs of constantly hiring and training new staff. Also, the lack of workerà ¢Ã¢â€š ¬Ã¢â€ž ¢s skill required for their à ¢Ã¢â€š ¬Ã‹Å"McJobsà ¢Ã¢â€š ¬Ã¢â€ž ¢ in inefficient for the organization. Managers could be obtaining much more from their workers for the money they are paid (Ritzer, 2011), but as they operate under a s cientific system of management, there is no diversity or flexibility in the workerà ¢Ã¢â€š ¬Ã¢â€ž ¢s jobs, and therefore they can only do the exact tasks that they are asked to do in the exact manner that they are asked to do them. To conclude, I would say that it is evidently clear that Frederick Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ was developed for a different time and a different place. à ¢Ã¢â€š ¬Ã‹Å"Scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ seemed like a simple result to managerial problems at the end of the 19th Century, but modern organizations of the 21st, being much more complex, require more than a systematic approach to managers. There is no doubt that Taylorà ¢Ã¢â€š ¬Ã¢â€ž ¢s ideas have dramatically shaped modern methods of mass production and structural organization (The Saylor Foundation, 2005), and it is true that there are elements to à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ which cooperate well today with some organizations management systems and continue to work effectively, however in general, our industry and society today have moved on and left à ¢Ã¢â€š ¬Ã‹Å"scientific managementà ¢Ã¢â€š ¬Ã¢â€ž ¢ in the past where it belongs. Bibliography Boddy, D. (ed.) 2005. Management: An Introduction, 3rd edition. Harlow, Pearson Education. Drucker, F. P. 1999. Knowledge-Worker Productivity: The Biggest Challenge. In Introduction to Organisation and Management, 3rd edition. (Quilliam J., ed.), Harlow, Pearson Education, pp. 247-262. Fulop, L. and Linstead, S. 1999. Management: A Critical Text. South Yarra, Macmillan Publishers Australia. Mintzberg, H. 1990. The Managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Job: Folklore and Fact. In Introduction to Organisation and Management, 3rd edition. (Quilliam J., ed.), Harlow, Pearson Education, pp. 53-68. Priestley, S. 2005. Scientific Management in 21st Century. Available online at: www.articlecity.com/articles/business_and_finance/article4161.shtm l [Accessed 31st January 2014]. Ritzer, G. 1983. The McDonaldization of Society. Journal of American Culture, 6(1), 100-107. Available online at: https://antropologi.fib.ugm.ac.id/wp-content/uploads/George-Ritzer-The-McDonaldization-of-Society.pdf [Accessed 31st January 2014]. Ritzer, G. 2011. The McDonaldization of Society 6. California, SAGE Publications, pp. 141-160. Available online at: https://engl101-mlady.wikispaces.umb.edu/file/view/Chpt+7+-+Irrationality+of+Rationality.pdf [Accessed 12th February 2014]. Taylor, W. F. 1911. The Fundamentals of Scientific Management. New York, Harper Brothers. Available online at: www.marxists.org/reference/subject/economics/taylor/principles/ch01.htm [Accessed 3rd January 2014]. Taylor, W. F. 1911. The Principles of Scientific Management: Part I. In Introduction to Organisation and Management, 3rd edition. (Quilliam J., ed.), Harlow, Pearson Education, pp. 32-51. The Saylor Foundation, 2005. Scientific Management Theory and t he Ford Motor Company. Available online at: https://www.saylor.org/site/wp-content/uploads/2013/08/Saylor.orgs-Scientific-Management-Theory-and-the-Ford-Motor-Company.pdf [Accessed February 7th 2014]. Don’t waste time! Our writers will create an original "Frederick Taylors Scientific Management" essay for you Create order