Business ratios for use in managerial control

The father of the scientific management movement, Frederick W.Taylor, began his studies in the late 1870's. The scientific management movement which gained many adherents finally developed into an association to promote the science of management in 1912, which in 1915 was renamed The Taylor Society. Today the groups which grew out of this association are called the American Management Association and The Society for the Advancement of Management. Both of these associations are concerned with the problems of functional divisions of business and industry and the field of general management. Appropriately, what Taylor did was to apply the scientific method to the problem of business management. This involved the experimentation, collection and classification of data, analysis of data, and the formulation of laws and principals based upon such analysis and conclusions.