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J4  2012, Vol. 9 Issue (9): 1268-    DOI:
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Business, Management and Efficiency:Valuable Contribution of Classical Management Theory
LIU Zhen, CHEN Chun-Hua, XU Mei-Xin
1. South China University of Technology, Guangzhou, China; 2. University of Colorado, Denver, USA; 3. New Huadu Business School, Fuzhou, China

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Abstract  The following essence business and management can be learned from the classic theories and practice of Taylor, Drucker, Ford and GM: i) results exists only on the outside, which is the foremost knowledge for business; ii) there is only one valid definition of business, which is to create customers; iii) the core of management is to improve efficiency and the importance of the management depends on its contribution to efficiency.
Key wordsclassic      business      management     
Received: 13 March 2012     
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LIU Zhen
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LIU Zhen,CHEN Chun-Hua,XU Mei-Xin. Business, Management and Efficiency:Valuable Contribution of Classical Management Theory[J]. J4, 2012, 9(9): 1268-.
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