Industrial Management

Productivity is an attitude of mind. It is the mentality of progress, constant improvement of that which exists. It is the certainty of being able to do better today than …

General Principles of Management: Division of work Authority and Responsibility Discipline Unity of command Unity of direction Subordination of Individual to generate interest Remuneration of personnel Centralization Scalier chain Order …

Principles of scientific management: Replacing rule of thumb with science. Harmony in group action. Co-operation. Maximum output. Development of workers.

Functions of management: Planning Organizing Staffing Directing Controlling.

Characteristics of management: It is well organized. Getting things done in a desired manner. It concerns with the efforts of people working. It relates to decision-making. It is a process …

According to Henry  Fayol, management is to forecast, to plan, to organize, to command, to co-ordinate and to control. According to Taylor, management is knowing exactly what you want men …

Components of Business: Industry Types of business: Extract Industries: finishing, mining, fruit gathering etc. Manufacturing Industries: spinning, weaving meals, flour mills etc. Construction Industries Service Enterprise. Commerce The process of …

Requisite of a successful Business: Company objectives Planning Research Market Research Materials Research Product Research Equipment and process research Sound organization Proper location of the plant its layout and size …

Qualities of a successful businessman: Accuracy Time sense and foresight Alertness Honesty or business morality Ability to co-operate Consistency and dependability Initiative and capacity to make decisions Energy Personal Qualities.

Business Objectives: Economic: Satisfactory profits Creation of customers Innovation Social: Ample supply of quality goods Fair deal of workers Fair return to investors Fair dealings with suppliers of materials.