HSMC501
HSMC501
Frederick Taylor created the scientific management theory, which emphasizes the
scientific examination of labor processes to enhance efficiency. To boost productivity, it
emphasizes time and motion studies, standardization, and the division of tasks.
Functions of management:
● Planning : Identify goals and determine the best course of action required to
achieve those goal
● Organizing: Assign responsibilities to the employees with detailed skill sets needed to
complete the task
● Staffing: Hire the right people, for the right positions to the help the organization
achieve its objectives
● Coordinating: Coordination involves supervision , communication and direction by
the management
● Controlling: Monitor employees performance, compare it with the goals and take
corrective action as needed
POSDOCORB
(2)Harmony, Not Discord: As per this principle, such an atmosphere should be created in
the organization that labour (the major factor of production) and management consider each
other indispensable. Taylor has referred to such a
situation as a ‘Mental Revolution’. Taylor firmly believed that the occurrence of a mental
revolution would end all conflicts between the two parties and would be beneficial to both of
them.
(3)Cooperation, Not Individualism: According to this principle, all the activities done by
different people must be carried on with a spirit of mutual cooperation. Taylor has suggested
that the manager and the workers should jointly determine standards. This increases
involvement and thus, in turn, increases responsibility. In this way we can expect miraculous
results.
(4)Development of Each and Every Person to His / Her Greatest Efficiency and
Prosperity: According to this principle, the efficiency of each and every person should be
taken care of right from his selection. A proper arrangement of everybody’s training should be
made. It should also be taken care that each individual should be allotted work according to
his ability and interest. Such a caring attitude would create a sense of enthusiasm among the
employees and a feeling of belongingness too.
Case studies can be a valuable tool for industrial managers to learn from the experiences
of others and to identify best practices. They can also be used to demonstrate the value of
industrial management to other stakeholders, such as investors and customers.
1. Global supply chains are susceptible to disruptions from natural disasters, unstable
governments, and changing economic conditions. These interruptions may cause
delays, higher expenses, and lower productivity.
The efficient Industrial Management will give benefits to the various sections of the
society. They are:
(i) Consumer benefits from improved industrial Productivity, increased use value in the
product. Products are available to him at right place, at right price, at right time, in
desired quantity and of desired quality.
(ii) Investors get increased security for their investments, adequate market returns, and
creditability and good image in the society.
(iii) Employee gets adequate Wages, Job security, improved working conditions and
increased Personal and Job satisfaction.
(iv) Suppliers will get confidence in management and their bills can be realized without
any delay.
(v) Community enjoys Benefits from economic and social stability.
(vi) The Nation will achieve prospects and security because of increased Productivity and
healthy industrial atmosphere.
Conclusion:
In conclusion, industrial management plays a pivotal role in ensuring the efficient
operation of industrial processes and organizations. This field encompasses a diverse
range of tasks, from supply chain management to quality control, human resource
management, and technological integration.
Throughout this report, we have explored the theory, methodology, and challenges
associated with industrial management. We've seen that this discipline is not without its
obstacles, including supply chain disruptions, quality control issues, and the need to adapt
to rapidly evolving technologies. However, with these challenges come opportunities for
growth and improvement.
To overcome these challenges, organizations must adopt proactive strategies. These
include building resilient supply chains, investing in talent development, embracing
digital transformation, and prioritizing sustainability. By doing so, industrial managers
can ensure their organizations remain competitive, innovative, and adaptable in the face
of change.
Industrial management is a dynamic field, and its future promises to bring further
innovations and challenges. As such, it is essential for professionals in this field to stay
informed, continually improve their practices, and remain committed to the principles of
efficiency, quality, and sustainability.In essence, industrial management is not just about
managing processes; it's about managing change, fostering innovation, and driving
organizations toward success in a rapidly evolving industrial landscape.
References:
1. https://mechanicalpages.blogspot.com/2016/10/industrial-management.html
2. https://www.studocu.com/in/document/anna-university/mechanical-engineering/industrial
-management/40169936
3. https://www.researchgate.net/publication/277571772_Case_study_for_students_of_Indus
trial_Management'_by_Hkaushal
4. https://www.scribd.com/presentation/204137155/Introduction-to-industrial-management
5. https://openstax.org/books/principles-management/pages/references