Today’s engineers must be able to understand the economic implications of different technological decisions, as well as the technological implications of managerial and financial decisions. This is precisely what the academic field of Industrial Management is about: understanding the interdependencies between technology and management, in order to efficiently create value.
Modern Industrial Management provides an introduction to the basic concepts and methods that will enable engineers to explain and support their decisions in financial terms. The book focuses on the business operations of modern industrial companies and covers the entire field of management, from costing to sustainable business development. As such, the book provides a fundamental understanding of this large field, as well as an examination of the most important methods to control, plan, and develop industrial operations.
Modern Industrial Management provides fundamental knowledge about the value creation process of technology-based companies, covering marketing, production, and product development, as well as their financial systems, in terms of costing, accounting, and financing. It also discusses human resource management, business strategies, organizing, project management, and questions concerning corporate social responsibility and sustainable development. The book is aimed at engineering students at university level and practicing engineers who require basic knowledge in Industrial Management.