Course Content
Management Foundations
Management: Concept, Process, Theories, and Approaches, Management Roles and Skills
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Management Functions
Functions: Planning, Organizing, Staffing, Coordinating, and Controlling
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Managerial Economics Foundations
Managerial Economics: Concept and Importance
0/2
National Income
National Income: Concept, Types, and Measurement
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Unit I : Evaluation
Unit I : Evaluation
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Unit I: Business Management and Managerial Economics

Time Study ⏱️ (Developed in the Late 19th Century)

Year Developed: 1880s–1890s
Pioneer: Frederick Winslow Taylor

📖 Definition:

A Time Study is a technique used to determine the time required to complete a task or job by recording the time taken for each element of the task. It aims to establish the standard time needed for performing specific tasks under normal working conditions.

🎯 Objective:

The goal of time study is to improve productivity and ensure that tasks are completed in the most efficient way, with minimal time wastage.

📝 Steps Involved:

  1. Select the Task: Choose a task that is repetitive and measurable.

  2. Break the Task into Elements: Divide the task into smaller components or steps.

  3. Record the Time: Using a stopwatch or a digital timer, record the time taken to perform each step of the task.

  4. Analyze the Data: Calculate the average time for each step to determine a standard time.

  5. Establish Standard Time: This is the time a worker should take to perform the task efficiently, considering allowances for rest and delays.

🌟 Key Benefits:

  • Helps in setting performance standards for tasks.

  • Allows companies to measure worker productivity.

  • Provides data for planning and improving workflow.