MOD 1: productivity, measurement, and improvement

Which enables seizing of new business opportunities by both start-ups and existing firms by new ideas and technologies.

Ratio of the quantum produced with the resources consumed (usually labor effort in terms of man-hours, days, or months)

In his book in 1832, he reflected the need for re-estblishment general principles on the management

The 17 fundamental motions like grasp and search are called Therbligs, an anagram of his name.

Recognized the necessity for detailed costs and invented the earliest calculating machine.

Tried systematic overall timing of the manufacture of pins and arrived at a standard production rate

As in physical capital like machinery, equipment and buildings.

He also developed a code for factory discipline

 Known for the concept of rating in work measurement.

Defined as the quantity and quality of labor needed to take advantage of the above investments and innovations.

Realized the value of job training to the operators in operating a new spinning jenny.

Metamorphosing of new ideas into new technologies, new products, etc. which can enable working faster nd boost productiv

Responsible for the concept of the principles of organization as well as the principles and functions of management

Credited with his famous Gantt charts, one of the most useful tools of production control even today.

Improves productivity by creating incentives to innovate and ensures that resources are allocated to the most eff. firms

He is credited to have developed the bonus plan, the forerunner to increase productivity in the later years

Started a factory that was full of mechanical inventions and has a body of highly skilled craftsmen,

Ratio of the value of the product produced for the cost of the resources used to produce it.

Worked for improved labor relations and employment conditions and was largely responsible Working hours for labor

Initiated the idea of motion study and contributed a lot to bring to the present state of perfection.

His name is also associated with the humanistic approach in management and wage incentives.

Ratio of the amount of the functionality delivered or value added to the resources or effort consumed.