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Explain the following term/concept. Time Study - Organisation of Commerce and Management

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Explain

Explain the following term/concept.

Time Study

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Solution

It is the technique of observing and recording the time taken by an employee to complete a given task. With the help of time study, the precise time required for each element of work is determined. It is the technique used for fixing the standard time required to do a particular task under a given condition. It is useful to measure the efficiency of an employee and to control the cost of work.

Concept: Fredrick Winslow Taylor's Scientific Management Theory - Techniques of Scientific Management
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