Final answer:
Scientific management, created by Frederick Taylor and often known as 'stop-watch management,' focuses on improving economic efficiency and labor productivity through analytical methods and time-motion studies.
Step-by-step explanation:
The management theory that uses a quantitative approach to find ways to increase productivity, improve quality, and manage or reduce costly inventories is c) Scientific management. Originated by Frederick Taylor, scientific management mainly aims to enhance economic efficiency and labor productivity by analyzing and synthesizing workflows. Taylor's method, sometimes referred to as "stop-watch management", divides tasks into short, repetitive segments to maximize efficiency and profitability, often using time-motion studies to standardize work and measure the efficiency of both personnel and equipment. T
Scientific management contrasts noticeably with other management theories, such as Behavioral management or Humanistic management, which focus on the psychological and social aspects of the workforce. Furthermore, in contrast to the Theory Y approach of leadership behavior, Taylorism does not emphasize employee well-being or participative management but rather focuses on maximizing productivity and assumes that workers are primarily motivated by economic rewards.