U of U BUS 105 - Introduction To Management Thought (2 pages)

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Introduction To Management Thought



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Introduction To Management Thought

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introduction to management thought


Lecture number:
23
Pages:
2
Type:
Lecture Note
School:
University of Utah
Course:
Bus 105 - Foundations of Business
Edition:
2

Unformatted text preview:

1nd Edition BUS 1050 Lecture 23 Outline of Last Lecture I Finance Outline of Current Lecture II Management Current Lecture Foundations of management thought The art of getting things done through people Management A Process designed to achieve an organization s objectives by using its resources effectively and efficiently in a changing environment Aquinas Against the idea of borrowers and lenders P355 L 15 L58 Extortioner to charge interest rate Take usury money is unjust L78 Paying twice sin justice virtue 2nd Article P 357 L23 Lending money Cathedrals would never lend money L 80 Philosopher of ethics Aristotle Value measured by money Sin against justice P360 L20 No sin against borrowers Aristotle view Franklin Early treasury to create new currency to become richest man in colonies With money lend out Praises money to be leant out Protestants do not accept lenders Better to pay cash Credit leads to debt and losing 5 on principle This is known as cost shifting P362 L80 Productivity is an important issue to make you rich P363 L78 Without industry and management won t be rich P364 L7 Frugality Cut costs These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute P365 L8 20 Run in debt and can t pay loans P365 L69 Do not depend on industry Must be charitable John Stewart Mill revelation at 18 19 that eventually became an economist Marx Ricardo Mill Important economists P373 L1 35 Everyone who invests money deserves profit Abstain Breaking from world of fame Examples Abstaining from meat alcohol Belief in eternality Abstaining from lending Instead engage in world of finance to invest in money return L73 Sufficient equivalent abstinence Risk real show of faith Return for labor and skill Assiduity diligence in work P374 L70 Minimum of profits exceedingly variable Different level of wages create different profit levels



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