ISSN: 2041-6792

Clinical Investigation

Industrial Management-Open Access Articles:

 Industrial management, as a field of Commerce & business administration, studies the structure and organization of commercial companies. It comprises those fields of business administration that are necessary for the success of companies within the manufacturing sector and therefore the encompassing services (primarily operations management, marketing, and financial management).The term industrial company is usually applied to a producing firm that – contrary to a crafts business – produces durables in factories from raw materials in mass and serial production (division of labour) using modern manufacturing machines. The precursor of the study field industrial engineering was factory management. It had a robust similarity with technical management and was geared towards the engineering fields. Parallel to the present , there was also a factory management that was more within the area of business economics. This addressed the organizational questions of factory and office administration also as financial accounting, e.g. the factory bookkeeping and late also management accounting. The term and therefore the contents of present-day industrial engineering were strongly influenced by the establishment of MIT School of commercial Management in 1952 (renamed the Sloan School of Management in 1964 after its benefactor, Alfred P. Sloan, Jr., MIT graduate and then-chairman of General Motors). MIT School of commercial Management set itself the goal of teaching the "ideal manager" through this (post)graduate management program.  

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