Question

In: Economics

1/what two benefits does managing the firm scientifically give the manager ? how it will change...

1/what two benefits does managing the firm scientifically give the manager ? how it will change the output process ?

Solutions

Expert Solution

Reduction in the cost of production:-With the help of mechanization and the new technologies used in the manufacture of the products, it improves efficiency. Because of the large-scale production, production costs per unit are reduced considerably.
Advantages of the Labor Division:-The specialization theory implemented under scientific management guarantees the advantages obtained from the division of labor. The work is simplified and is done in the most economical and efficient manner possible.

Avoiding Labor and Management Disputes: Scientific management is instrumental in the establishment of healthy collaboration between management and labour, thereby cultivating productive and harmonious relationships between the two. This leads to decreased labor conflicts and to labor peace.
Higher Wages:-Scientific management strives to improve efficiency and to raise wages for the workers. Taylor has suggested to productive employees a competitive compensation package for increased salaries. The higher wages are beneficial in rising the employees' living standards.

One of the scientific management's core principles is that it undertakes the scientific collection, placement and preparation of industrial workers. In this way the right type of man is chosen for the right type of job.
Scientific management is providing the workers with a proper work atmosphere. Proper working hours are maintained for staff, accompanied by rest breaks, adequate lighting , ventilation, ensuring proper health, providing many other amenities etc.


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