Management and Labor Relations Concepts

Flashcards covering key concepts in management and labor relations.

Management

A process designed to achieve an organization’s objectives through the effective and efficient use of resources in a changing environment.

Goal of Management

To create leadership across different departments.

Productivity

Low costs and high efficiency within the organization.

Quality Control

The process of ensuring that products or services meet certain standards of quality.

Carnegie's view on Capital-Labor Relations

The relationship between those who do the work and those who control the work, often without unions.

Tawney's view on Motivation

Argued that employees in socialist states would be more cooperative than in capitalist ones due to lack of incentives to mistreat them.

Labor Output in Socialist States

In socialist/communist states, workers could not strike but could slow down operations instead.

Arbitration

The process of resolving disputes between labor and management, typically involving a third-party arbitrator.

Profit Sharing

A system where employees receive a share of the profits, incentivizing them to work efficiently.

Committee of Labor and Capital

A proposed committee to improve communication and relations between labor and shareholders.

Timing of Compensation

The principle that compensation should reflect the organization's financial performance over specific periods.

Tawney's Professional Pride

Management should foster a sense of professional pride among workers to improve motivation and output.

Theory X

Management theory suggesting that people inherently dislike work and need direction and control.

Theory Y

Management theory suggesting that people are self-motivated and seek responsibility.