<P> Railroads involved complex operations and employed extremely large amounts of capital and ran a more complicated business compared to anything previous . Consequently, they needed better ways to track costs . For example, to calculate rates they needed to know the cost of a ton - mile of freight . They also needed to keep track of cars, which could go missing for months at a time . This led to what was called "railroad accounting", which was later adopted by steel and other industries, and eventually became modern accounting . </P> <P> Later in the Second Industrial Revolution, Frederick Winslow Taylor and others in America developed the concept of scientific management or Taylorism . Scientific management initially concentrated on reducing the steps taken in performing work (such as bricklaying or shoveling) by using analysis such as time - and - motion studies, but the concepts evolved into fields such as industrial engineering, manufacturing engineering, and business management that helped to completely restructure the operations of factories, and later entire segments of the economy . </P> <P> Taylor's core principles included: </P> <Ul> <Li> replacing rule - of - thumb work methods with methods based on a scientific study of the tasks </Li> <Li> scientifically selecting, training, and developing each employee rather than passively leaving them to train themselves </Li> <Li> providing "detailed instruction and supervision of each worker in the performance of that worker's discrete task" </Li> <Li> dividing work nearly equally between managers and workers, such that the managers apply scientific - management principles to planning the work and the workers actually perform the tasks </Li> </Ul>

How was the second industrial revolution experienced by workers and corporate leaders