Question

Industrial management can be considered as the management of men, material and machine. explain

Answer 1

The concept of management has acquired special significance in the present competitive and complex business world. Efficient and purposeful management is absolutely essential for the survival of a business unit. Management concept is comprehensive and covers all aspects of business. In simple words, management means utilising available resources in the best possible manner and also for achieving well defined objectives. It is a distinct and dynamic process involving use of different resources for achieving well defined objectives. The resources are: men, money, materials, machines, methods and markets. These are the six basic inputs in management process (six M's of management) and the output is in the form of achievement of objectives. It is the end result of inputs and is available through efficient management process.

Answer 2

For effective running of an industry manpower, raw materials and machines are necessary for the effective and faster running of activities within an industry. Industrial management is an act of controlling, co ordinating and supervising the activities within an industry, The activities in the industry includes and comprises of the above mentioned titles.