Frederic Taylor applied the scientific method to management. In many cases, this meant measuring a process to determine its optimal possible output. From your own work experience, discuss a time you have seen measurements used to manage a process. Examples might include allowing a certain amount of time for a phone call or a project deadline. Do you believe the results were optimal, based on the measurement used?

The financial institutions have a department that is in charge of deciding if a credit application is viable or not. Usually there is a great amount of credit applicants and the work load is high for the credit analyst that have to give a financial assessment of each customer asking for a loan.

In this context the measurement of the time that is spend by each credit analyst in order to successfully complete the analysis of one application is vital in order to decide what is going to be the number of credits that each analyst must process in a day.

Usually the Manager of this department measures the time spend by an analyst regarding the type of loan that the client is asking for. In this sense it will be faster to analyze an application that only ask for a credit card than an application that ask for a mortgage.

Upon the results they divide the quantity of hours available to work into the time spend to each analysis and finally decide what is going to be the final amount of credits that an analyst most process.

I believe that the results of this measurements are optimal if the sample that is used is broad and it takes into account days where the number of credits available to analyze are few and a lot.

suchetasVT suchetasVT · Answer 2 · 2022-03-22T07:17:55+01:00

Scientific management is a movement within management theory that sought to shape the management of business processes in the workplace in a scientific way.

Why scientific management is important?

It helps organizations to allocate their resources more efficiently, thus allowing them to maximize their profits. It allows quality management, which helps businesses strengthen their relationships with employees.

In an organization, where employees are asked to finish the task within 24 hours of allotment of the task. It involves efforts from the employees' side to work on it and achieve the given target.

When it comes to the task, it is about solving the given number sums and clearing the doubts of the students. It requires time for each question to solve. Every question is different in terms of the nature of the question.

Therefore, Giving a deadline to an employee so that they achieve their assigned target for the day is good because there lies a sense of responsibility to finish the task in the given time and which ultimately results in optimal outcome.

To learn more about scientific management, refer to the link:

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