A typical requirement for managers is to gather data and compile metrics on productivity, spending, and progress toward goals for the projects they oversee. Reduction in wastage's brings a higher return to firm. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses. Management in addition encourages innovation. Stevens Institute of Technology, 1883. This helps in cost reduction. They may teach employees new methods in the laboratory, help them find solutions to non-routine work problems, or discuss career advancement and performance issues during one-on-one meetings.
Modern Trends Modern technological devices, particularly in the areas of computers, electronics, thermodynamics, and mechanics, have made automatic and semiautomatic machines a reality. This motivation zeal the employee to work harder, which results in higher efficiency in production. Conslusion: The and importance of Management are universally accepted. Often, managers begin their careers as technicians or research scientists and take on increasing levels of managerial responsibility as they gain experience. It provides the consumers with the newest products. Such technological changes and the need to improve productivity and quality of products in traditional factory systems also changed industrial management practices. Management also develops team spirit and increases the efficiency within the organization.
Managers motivate subordinate to reduce wastages. He was called the father of scientific management. Records were kept of the performance of workers and standards were adopted for each operation. It also provides a sense of what projects and goals are feasible, and it helps in performing critical assessments of the progress and results of a given project. Team work plays an important part in the success of organization. During the 1980s and 1990s, however, cutbacks and downsizing in many American businesses substantially reduced many of these benefits. For example, it protects workers against unethical practices on the part of management to exploit workers by putting them under inhuman working conditions and niggardly wages.
Management of the Machine Industrial management also involves studying the performance of machines as well as people. Managers must often factor in the money-making aspects of a project as well as the scientific and technical value, and they may be required to help generate new business for their employer. It makes use of experts, professional and these services leads to use of their skills, knowledge, and proper utilization and avoids wastage. This increases the productivity and profitability of the organization. Some articles are also contributed by our guest bloggers on a timely manner.
Some higher-level positions may require a doctoral degree and an outstanding track record. Barbash, The Elements of Industrial Relations 1984 ; D. Nowadays, managers are using part of their profits to build hospitals, schools, colleges, etc. Managers are often required to work long hours to ensure that deadlines and project goals are met. Minimises wastages Management minimizes the wastages of human, waste materials and monetary resources. It in addition reduces labor turnover and absenteeism.
Managers make presentations at conferences or internal meetings, and they may travel to various corporate or client locations or sites. Peace, in turn, breeds prosperity. They are responsible for making and adhering to budgets, planning equipment upgrades and other major purchases, and planning responses and mitigation strategies for potential risk areas. Link to this page: industrial management At least 24 semester credit hours or the equivalent of study from an accredited college or university in the following disciplines: accounting, business finance, law, contracts, purchasing, economics, industrial management, marketing, quantitative methods, and organization and management; or at least 24 semester credit hours or the equivalent from an accredited college in the individual's career field and 12 semester credit hours or the equivalent from such an institution from among the disciplines listed here, or equivalent training as prescribed by the secretary to ensure proficiency in those disciplines. They must be able to coordinate several projects and activities at once and be aware of how these interrelate with other projects and activities in the organization.
Some employers provide on-the-job training or subsidize training costs for management positions. Improves the quality of life of the workers Management provides bonus and incentive to the employees for their work. The flow of materials through the plant is supervised to ensure that neither workers nor machines are idle. If employees and machines are producing its maximum there is no under employment of any resources. It provides a financial stability which helps in boosting life of the workers. By defining objective of organization clearly there would be no wastage of time, money and effort.
Management converts disorganized resources of men, machines, money etc. Doubts, if any, in the minds of either party are removed. This is because of quality of products and services offered by the organization and also due to the social responsibility of organization towards society. The system was also applied in Japan, where managers developed a number of other innovative systems to lower costs and improve the quality of products. The combine effort of work and unity lead to the prosperity within the organization. Click the link for more information. When a new article is to be manufactured it is given a design that will make it suitable for machine production, and each step in its manufacture is planned, including the machines and materials to be used.
Some employers provide on-the-job training or subsidize costs for training employees who are interested in management positions. The motivated workers give their best and maximum to the organisation, on the one hand, and share their share of the fruits of organisational progress jointly with management, on the other. This requires the ability to negotiate with and influence people with varying skill levels and backgrounds, and it requires the ability to avert and resolve conflicts. As they gain experience, they may be put in charge of larger groups, more senior-level scientists, or more complex projects. The growth, however, was accompanied by much waste and inefficiency. Productivity is the relationship between returns and costs. Managers with a chemistry background work in a wide range of workplaces in the private sector, government, academia, or not-for-profit organizations.