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What is Business Rationalisation Overview about?
Rationalization is the application of reason to eliminate waste and inefficiency in industry through collective effort and scientific management. It occurs in three stages: planning and market research, rearranging equipment through standardization, and development through greater automation and divisionalization. While it aims to increase efficiency, critics argue it could lead to large-scale unemployment of skilled workers, loss of the human factor in industry, and potential for exploitation.
- Author
- ankit
- Language
- EN