Fordism: Rise, Fall, Impact, and Legacy
The Fall of Fordism
- The uniformity of the wage rate (eliminating bonus pay) and repetitive detail operations led to the abandonment of the Ford model.
- Increased unionization of workers, particularly around the Industrial Workers of the World (IWW).
The Solution: Reduced Working Hours
The reduction of working hours from 9 to 8 hours, surprisingly, increased production levels at an accelerated pace. The “high wage” became a necessity for the new process of accumulation. It was believed that later generations
Read MoreCompany Accounts, Insolvency, and Financing
The Account
The account represents the evolution and situation of the assets and liabilities, and the income and expenditure of a company. The splits in debit and credit, and the difference between them, is the account balance.
Accounting Books
Employers are required to keep proper accounts that allow for tracing all chronological operations. Employers must keep a book of inventories and annual accounts, and a ledger book. The ledger is a major book that companies must keep. Companies are not required
Read MoreBusiness Letter Styles and Correspondence Types
Item 5: Styles of Business Letters
There are several ways to style business letters. The main and most widely used in the business world are: Modern, Modified Modern, Professional, and Evolved.
Modern Style
Characterized by its simplicity in distribution and speed in typing.
Modified Modern Style
Very similar to Modern style, except the farewell, signatory formula, and signature are written from the center of the page to the right margin.
Professional Style
Indentation is used for the formulation of the
Read MoreUnderstanding the State Budget: Structure & Method
Budget: Concepts, Structure, and Production Method
6.1. Budget Concept
The budget can be defined as the accounting expression of a business plan for the Treasury, covering a specific period. It is the instrument that addresses the distribution of scarce resources among various needs. Its key features are:
- It’s a prediction formalized in a law.
- It has an accounting book.
- It is formally balanced.
- It is prepared for equal and successive periods.
The General State Budget is the encrypted, joint, and systematic
Read MoreSpain’s Economic Crisis and Recovery in the 1990s
The Crisis of the 1990s in Spain
During the early years of the 1990s, a slowdown in economic growth was accentuated. This was due to the influence of the global economic crisis and the deterioration of traditional, unresolved imbalances in the Spanish economy. In Spain during 1993, the worst moments were reflected in GDP, consumption, investment, etc.
The evolution of GDP in the depressive phase of the economic cycle, which began in 1990, reached its lowest point in mid-1993. For the first time in
Read MoreInformation Technology’s Impact on Organizations
Information Technology and Organizations Influence Each Other
Relationship Influenced by an Organization’s:
- Structure
- Business Processes
- Politics
- Culture
- Environment
- Management Decisions
What Is an Organization?
Technical Definition:
- A formal social structure that processes resources from the environment to produce outputs.
- A formal legal entity with internal rules and procedures, as well as a social structure.
Behavioral Definition:
- A collection of rights, privileges, obligations, and responsibilities that