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Beginning with an introduction to industrial engineering, it discusses contributions and thoughts of classical (Taylor, Fayol, and Weber’s), neo-classical (Hawthorne) and modern thinkers. The book explains different functions of management, and differentiate between management and administration.
Various types of business organisations with their structures and personnel management also find place in the book. Topics related to facilities location, material handling, work study, job evaluation and merit rating, wages and incentives that are of prime importance in any business are discussed. The book is aimed at providing a better understanding of industrial operations with practical approach.
Financial aspects related to business operations such as financial management, management accounting, breakeven analysis, depreciation and replacement policies for equipment assume prime importance. Numerical examples have been solved at appropriate places to create interest in readers. Marketing aspects of business as marketing management, new product development and sales forecasting methods are discussed, besides management and control of operations.
For maintaining industrial peace, good relationship between employers and employees is essential. Chapters on industrial relations, industrial safety and industrial legislations are introduced with the objective of providing readers with information on these important aspects.
Good decision-making is what differentiates a good manager from a bad one. Thus, a chapter on decision-making is added to examine its skill. Network constructions, CPM, PERT have been covered under project management. Quantitative techniques for decision-making as linear programming, transportation problems, assignment problems, game theory, queuing theory, etc., are also discussed in this textbook.
• Lucid presentation of the concepts.
• Illustrative figures and tables make the reading more fruitful and enriching.
• Numerical problems with solutions form an integral part of the book, making it application-oriented.
• Chapter-end review questions test the students’ knowledge of the fundamental concepts.