What Is Meant by Scientific Management? What Are the Four

question 26

Essay

What is meant by scientific management? What are the four principles of scientific management described by Frederick W. Taylor?

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Definitions:

Prime Cost

The combined direct costs of raw materials and labor that are directly attributable to the production of a product.

Direct Labor Cost

The wages paid to workers directly involved in production or service delivery, constituting a major component of a product's cost.

Variable Production

Production costs that vary in total directly and proportionately with changes in the production level.

Fixed Production

Production levels set without regard to the varying levels of demand or activity, often resulting in constant output rates.