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Taylor’s Scientific Management is a theory of management that was developed by Frederick Winslow Taylor
in the late 19th and early 20th centuries. The main objective of this theory is to improve economic efficiency,
especially labor productivity. Here are the key principles of Taylor’s Scientific Management:

1. Science, not the Rule of Thumb: This principle focuses on increasing the efficiency of an organization
through scientific analysis of work rather than using the ‘Rule of Thumb’ method.
2. Harmony, Not Discord: Taylor believed that the relationship between workers and management should
be cordial and completely harmonious.
3. Mental Revolution: This technique involves a shift of attitude of management and workers towards
each other. Both should understand the value of each other and work with full participation and
cooperation.
4. Cooperation, not Individualism: It believes in mutual collaboration between workers and the
management.
5. Development of Every Person to his Greatest Efficiency: The effectiveness of a company also relies
on the abilities and skills of its employees. Thus, implementing training, learning best practices and
technology, is the scientific approach to brush up the employee skill.

In terms of its relevance in present-day business, Taylor’s Scientific Management principles continue to play a
significant role. They help managers decide what to do and how to act, understand and predict business
situations. For instance, organizations like McDonald’s use a similar approach to Taylor’s Time and Motion
study to standardize their processes for increased productivity. Moreover, these principles guide businesses to
properly allocate their resources, strengthen relations with employees, and increase productivity by
scientifically directing all employees toward the desired objective. Therefore, despite being developed over a
century ago, Taylor’s Scientific Management continues to be relevant and widely applied in modern business
environments.