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Explain why productivity may rise when railroads,turnpikes,canals and roads help decrease transportation costs.Discuss the roles of specialization and operating on the basis of comparative advantage in a world of low transportation and transactions costs.
Quality Circles
Small groups of employees who meet regularly to discuss and propose solutions to workplace problems, aiming to improve organizational performance and work environment.
Gainsharing Programs
Employee incentive plans that provide a share of the company’s profits based on performance metrics.
Scientific Management
A management theory developed by F.W. Taylor aiming at improving economic efficiency and labor productivity through systematic study of work methods and processes.
Workplace Flexibility
An arrangement in a work environment that allows employees to have variable work hours, locations, or job duties to balance their work and personal life efficiently.
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