Taylor, Frederick W.

Taylor, Frederick W. definition - finance
The creator of scientific management theories that use time-and-motion studies to increase efficiency. His study about how much time it took a laborer to shovel coal saved Bethlehem Steel Corporation millions of dollars in material-handling costs in the 1890s. He was pushed into the national limelight when attorney Louis Brandeis used TaylorÂ’s scientific management theories in a highly publicized lawsuit that kept railroads from increasing freight rates. Taylor described his theories in his book, The Principles of Scientific Management.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.