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How Have Formal Organizations Changed Over the Course of the 20th

question 56

Essay

How have formal organizations changed over the course of the 20th century? Describe the ideal formal organization in the eyes of scientific management analyst Frederick Taylor, who wrote his business principle a century ago.How and why do today's more flexible organizations strive to be different from those described by Taylor?


Definitions:

Net Present Value

The difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Employee Benefit Liabilities

Obligations owed by an employer to its employees as part of an employee benefit program, such as pensions, post-retirement health benefits, and other forms of deferred compensation.

Present Value Method

A technique used to determine the current worth of a future cash flow, considering the time value of money.

Business Combination

A transaction or event where an acquirer obtains control of one or more businesses.

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