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Adam Smith's Influence on Management Theories

Adam Smith's Influence on Management Theories.

Transitioning to Adam Smith, renowned for his work in economics, Professor Yang emphasizes his significance in management theories. Smith’s observation of the division of labor in pin factories during the Industrial Revolution highlighted its impact on productivity. He attributed increased efficiency to three factors: enhanced dexterity, time-saving, and the use of machinery. Smith’s insights remain relevant today, particularly in discussions about automation and productivity.

Can you identify any potential drawbacks of excessive division of labor in today’s workplaces?

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Introduction to Healthcare Management: Organisational Insights

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