Classical Era Reflection Paper (Evolution of Management Class) Essay

Classical Era Reflection Paper (Evolution of Management Class) - Essay Example Furthermore, the paper includes discussion on scientific management principles as well as their significance in the activities of today’s managers. Over the years all these theories have been greatly practiced in different workplaces throughout the world. One of the major objectives of discussing these theories is helping the today’s managers so that they can utilize their capabilities in the best possible ways. In addition to these, the paper also includes disadvantages of using these theories. As a result, it is expected that this paper is going to be very useful for the managers in making effective decisions in their career. Classical Era and It’s Impact The basic concept of management is one of the oldest concepts in the world. Individuals and organizations have been using the core concepts of management over the past few centuries throughout the world. Without proper management wars could not be won. Even the wonders of this world and the process in which th ey are built, reflect the fact that ‘management principles’ were greatly in use even in the past. However, there was lack of written formats of the core principles of management. The classical era of management started from 1880 and it lasted till 1930. Prior to this classical era there was pre-scientific era of management that started from 1000 and lasted till the beginning the classical era (Singh, 2009). During classical era general management theories started to evolve. Two of the main thrusts were scientific management and administrative theory. Famous French industrialist, Henri Fayol can be called as the father of administrative theory. He came up with five functions of management and 14 universal principles (Singh, 2009). On the other hand, scientific management came in the picture in 1900 (Singh, 2009). Basically it is the advanced edition of systematic management which was proposed with the purpose of solving the managers’ problems regarding the demand of consumers (Russell & Taylor, 2006). The partial failure of systematic management principles resulted in the origination of scientific management. Scientific management can be defined as the â€Å"management which conducts a business or affairs by standards established by facts or truths gained through systematic observation, experiment or reasoning† (Kreitner, 2006). Frederick Taylor is known to be the father of this type of management. Taylor was able to improve the individual outputs significantly by conducting ‘task and time study’ and developing ‘piece-rate incentive systems’. He also used systematic training and selection process. His main objective was to make the behavior and attitude in the workplaces as predictable and as stable as possible, because predictable and stable work behavior is likely to improve the level of efficiency of sophisticated factories and machines. Taylor heavily trusted on various monetary incentive schemes as he us ed to believe that money is one of the biggest motivating factors that can improve the performance of even lazy workers (Singh, 2009). Four basic principles that were proposed by him are (i) development of scientific approach, (ii) scientific selection, training and teaching, (iii) encouragement of co-operation among the managers and workers and lastly (iv) proper division of responsibilities among management and workers (McDaniel & Gitman, 2007). There are many other contemporary experts who followed

Taxation Research Paper Example | Topics and Well Written Essays - 1000 words

Taxation - Research Paper Example Taper Relief: Land: non-business asset Qualifying holding periods: 7 whole years Chargeable gains before taper relief 74,286 Chargeable gains after taper relief @75% 55,714.5 Explanation In the above scenario, the acquisition date is assumed to be 1 November 1998. This entails that there could be no indexation allowance in this scenario because indexation allowance is deducted on gains obtained from disposal of assets that were acquired before April 1998. Because only three acres of land were sold for 80,000, the cost that is subtracted from the acquisition cost is the one that is deductible, as shown in the calculation. The retained or unsold part of the land has not been taken as allowable cost. Because the asset was acquired after 5 April 1998, therefore, it is subject to tamper relief. The qualifying holding period from 1 November 1998 to 14 December 2005 appear to be 7 years and 44 days, however it should only consider whole years, which in this case is 7 yeas. The land is assumed to be a non-business asset and thus the tamper relief is applied @ 75% which reduced the chargeable gains by 25%. D): Disposal Proceeds 6,300 Less: Costs 1,340 Gain before indexation 4,960 Chargeable Gains Nil Explanation Racehorse is a wasting chattel and therefore is always exempted from the calculation of capital gains tax. The gains obtained on a wasting chattel is never included in chargeable gians. No tamper relief has to be calculated because racehorse is already exempted from capital gains tax. E) Because the asset was purchased in May 1971 and held at 31 March 1982, the chargeable gains are to be calculated with the help of 'Rebasing rules': Rebased gain (new...Therefore, the qualifying period will be counted from 6 April 1998. This makes 7 years and 146 days or whole 7 years. It was a non-business asset, therefore the rate for taper relief has been applied at 75%. In the above scenario, the acquisition date is assumed to be 1 November 1998. This entails that there could be no indexation allowance in this scenario because indexation allowance is deducted on gains obtained from disposal of assets that were acquired before April 1998. Because only three acres of land were sold for 80,000, the cost that is subtracted from the acquisition cost is the one that is deductible, as shown in the calculation. The retained or unsold part of the land has not been taken as allowable cost. Because the asset was acquired after 5 April 1998, therefore, it is subject to tamper relief. The qualifying holding period from 1 November 1998 to 14 December 2005 appear to be 7 years and 44 days, however it should only consider whole years, which in this case is 7 yeas. *Indexation allowance for rebasing rules is always based higher of allowable costs before 31 March 1982 (i.e. acquisition cost in the above scenario) and the 31 March 1982 market value. Because of the fact that market value at 31 March 1982 is higher than that of the acquisition cost, 6500 has been taken to calculate indexation allowance. The oil painting was acquired in May 1971, there