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Factory owners or manager relied on their personal judgment in attending problems they confronted in the course of managing their work. Which principle of Taylor is it referring to? 
  • a)
    Science not rule of thumb
  • b)
    Harmony, not discord 
  • c)
    Cooperation, not individualism
  • d)
    Development of each and every person to his or her greatest efficiency and prosperity 
Correct answer is option 'A'. Can you explain this answer?
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Factory owners or manager relied on their personal judgment in attendi...
The principle of 'science not rule of thumb'. 
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Introduction
Frederick Winslow Taylor, known as the father of scientific management, proposed several principles that aimed to improve efficiency and productivity in the workplace. One of these principles is "Science, not rule of thumb." This principle emphasizes the importance of using scientific methods and data to make decisions and solve problems instead of relying on personal judgment or experience.

Explanation
When factory owners or managers rely on their personal judgment in attending problems they confront in the course of managing their work, they are not utilizing scientific methods or data to guide their decision-making. Instead, they are relying on their own subjective opinions or past experiences, which may not always lead to the most effective or efficient solutions.

By following the principle of "Science, not rule of thumb," factory owners or managers are encouraged to approach problem-solving in a systematic and objective manner. This involves gathering relevant data, conducting experiments or studies, and using scientific methods to analyze and interpret the information. By doing so, they can make informed decisions based on evidence rather than subjective opinions.

Benefits of the principle
There are several benefits of applying the principle of "Science, not rule of thumb" in managing a factory or workplace:

1. Accuracy: Scientific methods provide a more accurate and reliable way of understanding and solving problems, as they are based on empirical evidence and rigorous analysis.

2. Efficiency: By using scientific methods, managers can identify the most efficient ways to perform tasks, allocate resources, and streamline processes, leading to improved productivity and reduced waste.

3. Objectivity: Personal judgment can be biased and influenced by individual preferences or emotions. In contrast, scientific methods promote objectivity and minimize the impact of personal biases, leading to fair and impartial decision-making.

4. Continuous improvement: By applying scientific principles, managers can continuously analyze and evaluate their processes and practices, identifying areas for improvement and implementing changes based on data-driven insights.

5. Standardization: Scientific methods help establish standardized procedures and protocols, ensuring consistency and quality in the workplace. This reduces variability and increases predictability, leading to better outcomes.

Conclusion
The principle of "Science, not rule of thumb" advocated by Frederick Winslow Taylor encourages factory owners and managers to base their decision-making on scientific methods and data rather than personal judgment. By doing so, they can achieve greater accuracy, efficiency, objectivity, and continuous improvement in their work, ultimately leading to increased productivity and prosperity.
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Features of a Mixed Economy:A mixed economy is an economic system that combines elements of both a market economy and a planned economy. It incorporates features of both private enterprise and government intervention. The correct answer is D, as all of the following features are characteristic of a mixed economy:1. Planned economy:A mixed economy includes elements of a planned economy, where the government plays a role in guiding and regulating economic activities. It formulates economic plans and policies to ensure the efficient allocation of resources and to promote economic stability.2. Dual system of pricing:In a mixed economy, there exists a dual system of pricing, which means that both market prices and government-set prices coexist. While market forces determine prices for most goods and services, the government may intervene to regulate prices in certain sectors to protect consumers or promote social welfare.3. Balanced regional development:Another characteristic of a mixed economy is the emphasis on balanced regional development. The government intervenes to ensure that economic growth and development are not concentrated in specific regions or industries but are spread across different regions and sectors. This helps to reduce regional disparities and promote overall economic stability and social welfare.Benefits of a Mixed Economy:A mixed economy offers several benefits due to its combination of market forces and government intervention. Some of these benefits include:1. Economic efficiency:By incorporating market mechanisms, a mixed economy allows for resource allocation based on supply and demand, which promotes economic efficiency. Market forces encourage competition, innovation, and productivity, leading to higher levels of economic growth.2. Social welfare:Government intervention in a mixed economy enables the provision of public goods and services that may not be adequately provided by the market alone. This includes areas such as healthcare, education, infrastructure, and social security, ensuring a certain level of social welfare and equity.3. Stability and regulation:The government's role in a mixed economy helps to maintain economic stability through macroeconomic policies such as fiscal and monetary measures. It also regulates certain sectors to prevent market failures, protect consumer rights, and ensure fair competition.Conclusion:A mixed economy combines the advantages of both market forces and government intervention. It allows for economic efficiency, social welfare, and stability. The features of a mixed economy include elements of a planned economy, a dual system of pricing, and balanced regional development. These features work together to create a system that promotes both economic growth and social welfare.

Factory owners or manager relied on their personal judgment in attending problems they confronted in the course of managing their work. Which principle of Taylor is it referring to?a)Science not rule of thumbb)Harmony, not discordc)Cooperation, not individualismd)Development of each and every person to his or her greatest efficiency and prosperityCorrect answer is option 'A'. Can you explain this answer?
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Factory owners or manager relied on their personal judgment in attending problems they confronted in the course of managing their work. Which principle of Taylor is it referring to?a)Science not rule of thumbb)Harmony, not discordc)Cooperation, not individualismd)Development of each and every person to his or her greatest efficiency and prosperityCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Factory owners or manager relied on their personal judgment in attending problems they confronted in the course of managing their work. Which principle of Taylor is it referring to?a)Science not rule of thumbb)Harmony, not discordc)Cooperation, not individualismd)Development of each and every person to his or her greatest efficiency and prosperityCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Factory owners or manager relied on their personal judgment in attending problems they confronted in the course of managing their work. Which principle of Taylor is it referring to?a)Science not rule of thumbb)Harmony, not discordc)Cooperation, not individualismd)Development of each and every person to his or her greatest efficiency and prosperityCorrect answer is option 'A'. Can you explain this answer?.
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