January 19, 2018

Industrial Management - Evolution of The Subject

Today I came across the reference that the first textbook on management was a book by J. Duncan published in 1911.

Google search revealed that the book is available on Archive.org.


From the contents one can see that even now, the topics identified at that point in time are being used in Industrial Management books now.






Introduction — Factors Affecting Prosperity of Plant — Economic Environment — Manufacturing and Distributive Policy — Organization and Management — Problems of Business Management: (1) Location of Plant; (2) Integration and Concentration of Business ; (3) Specialization; (4) Building; (5) Power; (6) Management; (7) Selling 3-4



Survey of Concentration and Localization of Industries — Reasons for Localization — Census Classification : (1) Materials; (2) Market; (3) Water Power; (4) Climate; (5) Labor Supply ; (6) Free Capital ; (7) Early Start- Four Primary Reasons for Localization : (1) Market ; (2) Raw Materials ; (3) Labor ; (4) Power — Importance of Latter Factors 5-23



Factors Other than the Ideal Industrial District Affecting Success of Plant — Location, Layout, Equipment — Location with Respect to Selling, Buying, Manufacturing — Importance of Nearness to Labor Population, Repair Shops, Banking and Credit — Considerations Affecting Building of Plant : (1) Special Needs of Industry ; (2) Space for Expansion; (3) Low Rent and Taxes; (4)
Freedom from Restrictive Ordinances; (5) Adequate Fire-Fighting Facilities 24r-38



Country, City, and Suburban Plant Situations — Advantages and Disadvantages — Location of Plants Suited to Each Kind of Situation — Extra Inducements Offered: (1)
Free Land; (2) Free Building; (3) Exemption from
Taxation; (4) Stock Subscription; (5) Cash Bonus; (6)
Miscellaneous Favors — General Rules for Location in
Any Situation 39-48



Classes of Consolidations: (1) Integration of Process from
Raw Material to Finished Product ; (2) Integration and
Concentration of Factories ; (3) Integration and Con-
centration of Distributing Houses ; (4) Integration by
By-Product Utilization ; (5) Integration and Concentra-
tion by Control of Patents and Market Ownership —
Illustrations of Each Form of Consolidation Showing
Types of Integration and Concentration Used — Deter-
mination of the Advisable Type of Consolidation. . 49-70



Growth of Specialization — Reasons : (1) Reduction of Prelim-
inary Cost ; (2) Use of Specialized Equipment ; (3) Sim-
plification of Managerial Problems ; (4) Greater Value
of Small Savings — Illustrations of Methods of Saving —
The Interchangeable Part — Limitations to Specializa-
tion 71-80



Determination of the Type of Plant — Two Kinds of Manu-
facturing : (1) Continuous ; (2) Assembling — Classes of
Continuous Industries : (1) Synthetical ; (2) Analytical
— ^A Continuous Synthetical Industry of Non-By-Product
Type — Effect upon Plant Structure — A Continuous In-
dustry of By-Product Type — ^Effect upon Plant Struc-
ture 81-100



Utilization of Cheap Conveying Apparatus by Analytical In-
dustries — Two Types of Analytical Industries, Non-By-
Product and By-Product — Non-By-Product Industry,
Sugar Refining — Characteristics of a Sugar-Refining
Building — Utilization of Gravity — Conveying Apparatus
in Flour Milling — By-Product Analytical Industry, Meat
Packing — Steps of the Process — Ideal Layout for a
Packing House. . 101-114



Two Groups of Assembling Industries: (1) Direct Pro-
ducing; (2) Indirect Producing — Characteristics of As-
sembling Industries— Two Questions in Assembling
Plant Layout: (1) The Arrangement of Departments;
(2) The Building of the Plant— Direct Producing In-
dustry: Shoe Manufacturing— Ideal Layout— Indirect
Industry : Ship Building— Type of Machinery and Equip-
ment Needed — Ideal Layout for a Machine Shop and
Foundry— Ideal Layout for a Ship Building Establish-
ment 115-134



The Ideal Plant— Large Changes in Plant Layouts Neces-
sitated by Fire Precautions : (1) In Oil Refineries ; (2)
In Gas Works— Causes of Fire: (1) Common Hazards;
(2) Special Hazards— Fire Protective Devices : (1) Pre-
ventives of Fire; (a) Slow-Burning and Fire-Proof
Structures; (2) Fire Extinguishers: (a) Automatic
Sprinklers, (b) Fire Hose, (c) Fire Buckets, (d) Chem-
ical Extinguishers, (e) Hand Buckets ; (3) Fire Alarms :
(a) The Watchman and the Time-Recorder, (b) Ther-
mostats — Outside Fire Protection: (1) Water Curtains;
(2) Fire Hydrants ; (3) Fire Alarms ; (4) Fire Engines
— Safety Devices for the Protection of Life: (1) Fire
Escapes ; (2) Fire Drills 135-152



Five Essentials to Comfort: (1) Light; (2) Heat; (3) Ven-
tilation ; (4) Space ; (5) Conveniences — Lighting : (1)
Skylight ; (2) Windows ; (3) Saw-Tooth Lights ; (4) Arti-
ficial Light; (5) Elimination of Shadows — Heating: (1)
Hot Air ; (2) Hot Water ; (3) Steam ; (4) Combination
of Hot Air and Steam — Humidifiers — Schemes for Ven-
tilation — Importance of Sufiicient*. Space — Toilet and
Wash Rooms. . 153-162



Water Power — Advantages of Purchased Power — Other
Forms of Power — Direct Combustion and Indirect Com-
bustion Engines — ^The Gas Engine — Two Types of
Steam Engine : (1) Turbine ; (2) Reciprocating — Econ-
omies in a Steel Plant: (1) Making Water Suitable for
Steam ; (2) Increasing Boiler Efficiency ; (3) Increasing
Engine Efficiency — Comparison of Boiler Compounds
with Water Softeners— Economizers and Superheaters —
The Automatic Stoker— The Condenser— Kinds of Power
Transmission: (1) Steam; (2) Belt; (3) Rope Drive;
(4) Electrical ; (5) Air Pressure 163-180



Duties of the Ideal Manager — Three Types of Management :
(1) Military; (2) Functional; (3) Departmental— Ad-
vantages and Disadvantages of Each Type. . . 181-195



Three Kinds of Laborers : (1) Men ; (2) Women ; (3) Chil-
dren — Male and Female Labor Compared — Children as
Employees — Classes of Labor from Standpoint of Edu-
cation and Training — Apprenticeship Systems — Baldwin
Locomotive Works — Westinghouse Manufacturing Co. —
Advantage in Training Apprentices 196-213



Obtaining the Maximum Product — Systems of Wage Pay-
ment: (1) Time; (2) Piece; (3) Gain Sharing; (4)
Premium ; (5) Halsey and Rowan Modifications ; (6)
Differential Piece Rate; (7) Emerson; (8) Bonus — Dan-
ger of Cheap Labor 214-232



Necessity of Accurate Records — Work of the Labor Bureau :
(1) Selection of Employees ; (2) Record of Their Status
—Necessity of Considering an Employee's Health, Age,
Education, and Experience — Sources of Information —
The Form Letter — Qualifications of a Good Employee:

(1) Regular Attendance ; (2) Diligence ; (3) Efficiency—
Time-Recording Systems : (1) Inboard, Outboard Check ;

(2) Drop Box Check ; (3) Call Number ; (4) Distribution
Check ; (5) Recording Clock— Proof of Each System's
Accuracy— Record of Spoiled Work 233-261



Direct and Indirect Materials — Care of Raw Materials : (1)
Prevention of Waste and Losses on Direct Material ; (2)
Prevention of Undue Expenditures for Indirect Material
— Consideration in Development of the Greatest Econ-
omy: (1) Market; (2) Quality; (3) Quantity; (4)
Delivery ; (5) Housing ; (6) Waste ; (7) Losses — Depart-
ments: (1) Purchasing; (2) Testing; (3) Receiving and
Store-room — The Perpetual Inventory — Arrangement of
Stock — Prevention of Waste and Loss — Requisition
Scheme— The Budget System 262-280



Necessity for Record of Unfinished Goods — Two Kinds of
Manufacturing: (1) For General Stock; (2) For Specific
Contract — ^Accurate Records of Partly Finished Goods —
The Production Order — The Summary Cost Sheet — Rela-
tion to the Production Order 281-293



Divisions of Equipment : (1) Tools ; (2) Patterns ; (3) Draw-
ings and Plans ; (4) Power Machinery — Arrangement
arid Classification of Tools — Record of Patterns — Record
of Drawings — Dewey Decimal System — Record of Ma-
chines — Types of Recording Instruments — A Machine
Inventory for Fire Purposes 294-316

Index 317

CHAPTER I  discusses the factors  to be discussed in industrial management

The prosperity of an enterprise depends in general upon four factors :

1. The economic environment.

2. The equipment of the plant.

3. The organization and management of the plant.

4. The selling department.

The economic environment provides convenient situations which make possible the cheap production and profitable disposal of the good.

The equipment of the plant provides shelter for the employees and the tools, and also supplies mechanical means by which the raw materials can be changed into salable products.

On the organization and management of the plant depend the owners' ability to utilize to the best advantage their raw materials and the time of the men they employ.

The selling department makes an outlet for the goods.

The successful running of a concern resolves itself into ten problems :

1. Where shall the plant be located?

2. To what extent shall the business be integrated and concentrated?

3. To what extent shall the enterprise be specialized?

4. How shall the plant be built?

5. What form of power shall be employed to run the plant?

6. What shall be the basis of its internal organization?

7. How shall the labor force be handled?

8. How shall the raw materials be treated?

9. How shall we determine the efficiency of our equipment?

10. How shall the goods be distributed to the consumer?

This volume will confine itself to the discussion of the industrial problems, hence it will consider only the first nine of the above questions.

The tenth is so important that it can be adequately handled only by making it the special
topic of another treatise.

We may say that the author considers the first three factors and related questions as forming industrial management. The fourth factor, sales is left for business management.

Industry 4.0 Technologies Adoption - Guidelines for SMEs

Industry 4.0 is term for the application of a set of new technologies on production of goods. Germany has taken the lead in announcing the fourth industrial revolution.German machine and plant manufacturers are currently engaged in developing products and processes using the new technologies. Some perceive it as an opportunity to expand their business and some perceive it as a 
challenge to overcome and stay and succeed in business. Industry  4.0 is applicable in case of SMEs also. But definitely for SMEs, it is challenge to a greater extent. The challenge for small and medium businesses is first  the task of reducing the declared benefits  of Industry  4.0 technologies to viable
development stages that show tangible benefits for their own company research, development, design and production activities. The possible project ideas are to be quantified  monetarily into revenue/cost figures and cash inflow/outflow figures to do engineering economic analysis and financial analysis.

Industry 4.0 - Brief Introduction

Modern information and communication technologies are merging with production technologies to form new methods of design and production.  The information related to consumer and business products products in use and also information related to processes as they are performing the operations will be available in in real time at each stage of the supply chain through networking of all partners involved in the entire value-adding process. This can  lead to dynamic, real-time optimization,  self-organization, self-maintaining  cross-company networks.

In practical terms, the introduction of Industry 4.0 results in ability to adapt more individually to the needs of the customers and  offer a high variant diversity down to a batch size of 1 at prices close to mass production prices. The approaches of Industry 4.0 allow to build production networks that produce efficiently and effectively at low costs.

Industry 4.0 - Opportunity to Earn Additional Revenues and Profits 

 The technologies and the solution ideas so far discussed in the literature relating to Industry 4.0
are  paving the way for new product innovations, product-related services and improved production processes.  Thus Industry 4.0 can help companies to improve productivity and reduce costs of production. This can result in price decreases and increase in sales. Also, existing products can be improved and new products created with additional functionalities that increase sales due to  the enhanced usefulness and value contribution at the user end.

How to Adopt and Realize the Potential of Industry  4.0?

The technologies for comprising  the Industry  4.0 opportunity set are already available as technically feasible solutions. But the real benefits of Industry 4.0 revolution will only unfold through  a clever
combination of these technologies by product solution architects in various product segments. At the moment,  large number of companies are unaware of the road leading to the identification and successful combination of Industry  4.0 solution approaches. Industry, academic institutions and governments have to put in lot of effort to create useful frameworks to spread the adoption of Industry 4.0 and turn the anticipated/estimated/forecasted potential into reality.

The German mechanical engineering industry association has come out with a guide proposing a framework giving guidelines for adoption of Industry 4.0 concept by SMEs of German industry,

Objective of this guideline

The guideline is developed to  support small and medium sized companies of the German mechanical engineering industry in identifying potentials for products and production with a systematic process for using  Industry  4.0 set of technologies and in developing their own specific ideas in this respect. The guide presents a suitable procedure for direct application in any company.

The procedure in this guide is divided into five process steps.

Preparation > Analysis > Creativity> Evaluation> Implementation

Preparation phase

An in-depth knowledge of the products currently being produced and sold and the relevant market
and of  own production technology and process is the starting point for elaborating product ideas and
improving production. So preparation phase focuses on the knowledge regarding the current operations,  technologies and market conditions

Analysis phase

The analysis phase aims at identifying the expertise available in the company concerning Industry  4.0 technologies. The analysis may indicate the need for acquisition of additional knowledge and the company has to take steps to acquire sufficient knowledge by buying books, deputing personnel to seminars and also sponsoring personnel for e-learning courses. Plant visits may also be encouraged to develop understanding.

Creativity phase

The aim of the creativity phase is the generation of new ideas and the subsequent elaboration
of concepts for business models. The new ideas normally will be in the existing products or nearby product areas. Sometimes even totally different product ideas may come up.

Evaluation phase

The objective of this phase is the assessment of the proposed business models for strategic, business and financial fit.  For this purpose, the business models proposed have to be ranked according to their market potential or to their potential for production respectively as well as according to the required resources for implementation. The aim is to identify business models with a high market potential, low resource requirement,  and utilization of the company’s strengths.

Implementation phase

Finally, the project team makes recommendations of the projects for acceptance by  the company

The five step procedure can be conducted as a workshop in SMEs and the result of the workshop
can be transferred to suitable Industry 4.0 projects for practical implementation.

Management of Industry 4.0 Transformation - 2018 - Bulletin Board


January - News, Events and Information

Drivers That  Facilitate Transition to Industry 4.0 Production Systems at National Level
Industry 4.0 - IIoT Technology - Industrial Engineering - Productivity Science

Industrial Engineering 4.0 - IE in the Era of Industry 4.0 - Blog Book

Industry 4.0 - A Note for Industrial Engineers for Industrial Engineering 4.0 (IE 4.0)

Autonomous Robots - A Note for Industrial Engineers for Industrial Engineering 4.0 (IE 4.0)

Advancing Industry 4.0 with AI and IoT - IBM Watson Presentation

IBM Watson Internet of Things October 2017


The Fourth Industrial Revolution
Klaus Schwab
Penguin UK, 03-Jan-2017 - Business & Economics - 192 pages

The founder and executive chairman of the World Economic Forum on how the impending technological revolution will change our lives

We are on the brink of the Fourth Industrial Revolution. And this one will be unlike any other in human history.

Characterized by new technologies fusing the physical, digital and biological worlds, the Fourth Industrial Revolution will impact all disciplines, economies and industries - and it will do so at an unprecedented rate. World Economic Forum data predicts that by 2025 we will see: commercial use of nanomaterials 200 times stronger than steel and a million times thinner than human hair; the first transplant of a 3D-printed liver; 10% of all cars on US roads being driverless; and much more besides.

In The Fourth Industrial Revolution, Schwab outlines the key technologies driving this revolution, discusses the major impacts on governments, businesses, civil society and individuals, and offers bold ideas for what can be done to shape a better future for all.


January 18, 2018

Business Conceptualization - Management Insights from Economics, Engineering Economics, Managerial Economics, Industrial Economics

Every manager must have the ability or skills of identifying business opportunities and providing providing goods and services at profit in the light of the business opportunity.

Identifying and evaluating a business opportunity means demand is to be estimated. Economics subject has its special focus on analysis of consumer demand. Managers have to use the economics theory to come out with demand forecasts for potential businesses and existing businesses. Actually Philip Kotler, the celebrated author of the book Marketing Management, is an economist by education and he said he worked in marketing as marketing is economics.

In the economics subject,  production cost analysis is also undertaken. Ideas like economies of scale, marginal diminishing productivity etc. are important theories in production economics which are to be used by managers.

Economics has subareas which are more focused on specific issues related to businesses. Engineering economic analysis deals with the profitability analysis of income expansion and cost reduction expenditures proposed by engineers in the production systems. It can be used for expenditure or investment proposals made by any body like repairs to house or automobiles etc.  Even investment in  shares and bonds can be analyzed using methods of engineering economic analysis.

In managerial economics, Joel Dean described the application of economic analysis to many managerial decision making like advertising expenditures and pricing decisions when multiple products are there etc.

Industrial economics examines why certain industries have higher profit margins at a point time. Monopoly and Oligopoly may be the reasons for higher profits. Hence creating barriers to entry becomes a competitive activity for firms. But on the other hand, society tries to support more competition.

Managers have to acquire the relevant theories from various economics subjects and be on the lookout for new theories that support their work.

Even accounting tools are used in business conceptualization as proforma income statements, balance sheets and cash flows statements need to be prepared to submit to financial organizations to fund a business.

Economics - Revision Articles - Based on Samuelson's Book - List

Managerial Economics - Review Articles - List

Financial, Cost and Management Accounting - Review Notes List

Second article for revision for the day:
Peter Drucker - Business Organization - Economic Function - Social Responsibility

January Month Management Knowledge Revision Plan

MBA Core Management Knowledge - One Year Revision Schedule

Updated  19 January 2018,  22 Jan 2016,  30 Dec 2014

Scientific Management - Foundation and Development of the Approach

Focus of  Scientific management - Elimination of Inefficiency or Waste 

Scientific management has its focus on elimination of inefficiency or waste in various production activities. The remedy suggested is development of science for various production activities.  The focus of the approach can be understood from the following passages.

This paper has been written:

First. To point out, through a series of simple illustrations, the great loss which the whole country is suffering through inefficiency in almost all of our daily acts.

Second. To try to convince the reader that the remedy for this inefficiency lies in systematic management, rather than in searching for some unusual or extraordinary man.

Third. To prove that the best management is a true science, resting upon clearly defined laws, rules, and principles, as a foundation. And further to show that the fundamental principles of scientific management are applicable to all kinds of human activities, from our simplest individual acts to the work of our great corporations, which call for the most elaborate cooperation. And, briefly, through a series of illustrations, to convince the reader that whenever these principles are correctly applied, results must follow which are truly astounding.

This paper was originally prepared for presentation to the American Society of Mechanical Engineers. The illustrations chosen are such as, it is believed, will especially appeal to engineers and to managers of industrial and manufacturing establishments, and also quite as much to all of the men who are working in these establishments. It is hoped, however, that it will be clear to other readers that the same principles can be applied with equal force to all social activities: to the management of our homes; the management of our farms; the management of the business of our tradesmen, large and small; of our churches, our philanthropic institutions our universities, and our governmental departments.

Taylor gave four principles of scientific Management

Principles of Scientific Management

Under scientific management the "initiative" of the workmen (that is, their hard work, their good-will, and their ingenuity) is obtained with absolute uniformity and to a greater extent than is possible under the old system; and in addition to this improvement on the part of the men, the managers assume new burdens, new duties, and responsibilities never dreamed of in the past. The managers assume, for instance, the burden of gathering together all of the traditional knowledge which in the past has been possessed by the workmen and then of classifying, tabulating, and reducing this knowledge to rules, laws, and formulae which are immensely helpful to the workmen in doing their daily work. In addition to developing a science in this way, the management take on three other types of duties which involve new and heavy burdens for themselves.

These new duties are grouped under four heads:

First. They develop a science for each element of a man's work, which replaces the old rule-of.-thumb method.

Second. They scientifically select and then train, teach, and develop the workman, whereas in the past he chose his own work and trained himself as best he could.

Third. They heartily cooperate with the men so as to insure all of the work being done in accordance with the principles of the science which has been developed.

Fourth. There is an almost equal division of the work and the responsibility between the management and the workmen. The management take over all work for which they are better fitted than the workmen, while in the past almost all of the work and the greater part of the responsibility were thrown upon the men.

It is this combination of the initiative of the workmen, coupled with the new types of work done by the management, that makes scientific management so much more efficient than the old plan.

Increase in Management Effort Due to Scientific Management

The writer asserts as a general principle (and he proposes to give illustrations tending to prove the fact later in this paper) that in almost all of the mechanic arts the science which underlies each act of
each workman is so great and amounts to so much that the workman who is best suited to actually doing the work is incapable of fully understanding this science, without the guidance and help of those who are working with him or over him, either through lack of education or through insufficient mental capacity. In order that the work may be done in accordance with scientific laws, it is necessary that there shall be a far more equal division of the responsibility between the management and the workmen than exists under any of the ordinary types of management. Those in the management whose duty it is to develop this science should also guide and help the workman in working under it, and should assume a much larger share of the responsibility for results than under usual conditions is assumed by the management.

The body of this paper will make it clear that, to work according to scientific laws, the management must take over and perform much of the work which is now left to the men; almost every act of the workman should be preceded by one or more preparatory acts of the management which enable him to do his work better and quicker than he otherwise could. And each man should daily be taught by and receive the most friendly help from those who are over him, instead of being, at the one extreme, driven or coerced by his bosses, and at the other left to his own unaided devices.

This close, intimate, personal cooperation between the management and the men is of the essence of modern scientific or task management.

It will be shown by a series of practical illustrations that, through this friendly cooperation, namely, through sharing equally in every day's burden, all of the great obstacles (above described) to obtaining the maximum output for each man and each machine in the establishment are swept away. The 30 per cent to 100 per cent increase in wages which the workmen are able to earn beyond what they receive under the old type of management, coupled with the daily intimate shoulder to shoulder contact with the management, entirely removes all cause for soldiering. And in a few years, under this system, the workmen have before them the object lesson of seeing that a great increase in the output per man results in giving employment to more men, instead of throwing men out of work, thus completely eradicating the fallacy that a larger output for each man will throw other men out of work.

It is the writer's judgment, then, that while much can be done and should be done by writing and talking toward educating not only workmen, but all classes in the community, as to the importance of obtaining the maximum output of each man and each machine, it is only through the adoption of modern scientific management that this great problem can be  finally solved. Probably most of the readers of this paper will say that all of this is mere theory. On the contrary, the theory, or philosophy, of scientific management is just beginning to be understood, whereas the management itself has been a gradual evolution, extending over a period of nearly thirty years. And during this time the employees of one company after another, including a large range and diversity of industries, have gradually changed from the ordinary to the scientific type of management. At least 50,000 workmen in the United States are now employed under this system; and they are receiving from 30 per cent to 100 per cent higher wages daily than are paid to men of similar caliber with whom they are surrounded, while the companies employing them are more prosperous than ever before. In these companies the output, per man and per machine, has on an average been doubled. During all these years there has never been a single strike among the men working under this system. In place of the suspicious watchfulness and the more or less open warfare which characterizes the ordinary types of management, there is universally friendly cooperation between the management and the men.

Scientific management resulted in development of number of methods, techniques and tools. It was incorporated as an approach in all management textbooks. The techniques and tools were covered in detail in production management textbooks. It also led to the development of Industrial Engineering as a discipline that is related to scientific management in engineering activities with engineering knowledge as the base for technical skills for accomplishing the task. Industrial engineer can be employed by managers to take care of the efficiency dimension of their managerial responsibility.


The Principles of Scientific Management



Contribution of F.W. Taylor - Shop Management and Scientific Management
The papers classified into topics for easy understanding.

Biography of F.W. Taylor - Very Brief

Principles of Industrial Engineering - Taylor-Narayana Rao

Principles of Industrial Engineering were developed from the principles of scientific management by Prof K.V.S.S. Narayana Rao. They were Presented in the conference at NITIE (NCIETM) on 18 November 2016 at Mumbai India.

1. Develop science for each element of a man - machine system's work related to efficiency and productivity.
2. Engineer methods, processes and operations to use the scientific laws related to the work of machines, man, materials and other resources to improve economic efficiency and productivity.
3. Select or assign workmen based on predefined aptitudes for various types of man - machine work.
4. Train workmen, supervisors, and engineers in the new methods, install various modifications related to the machines that include productivity improvement devices and ensure that the expected
productivity is realized.
5. Incorporate suggestions of operators, supervisors and engineers in the methods redesign on a continuous basis.
6. Plan and manage productivity at system level

Expanded List

The six basic principles of industrial engineering were further expanded.

Principles of Industrial Engineering - Narayana Rao - Detailed List

Clicking on the link will take you to more detailed content on the principle

The full paper on the principles by Prof. K.V.S.S. Narayana Rao is now available for downloading from IISE 2017 Annual Conference site in prepublished format.

Presentation on Principles of Industrial Engineering First made by Dr. Narayana Rao on 23 May 2017 in IISE Annual Conference, Pittsburgh, USA.


Article Part of January Revision Plan

MBA Core Management Knowledge - One Year Revision Schedule

Second Article of the day for revision: Evolution of Management Thought and Theory

Updated  19 January 2018,  18 January 2017, 18 Jan 2016, 30 Dec 2014

January 4, 2018

The Most Popular Management Articles of 2017

MBA Core Management Knowledge - One Year Revision Schedule and Articles

The Most Popular  Management Articles of 2017 in Various Management Publications

Taylor - Narayana Rao Principles of Industrial Engineering

Presented in 2017 - Original Contribution in Industrial Engineering with Primary Focus on Productivity in Engineering Industry


By 2020 AI will create more jobs than it eliminates, predicts Gartner
Lindsay James By Lindsay James on 18 December 2017

Harvard Business Review

2017 Best of Harvard Business Review

 "Customer Loyalty Is Overrated,"  A.G. Lafley and Roger L. Martin;

"Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making,"  Daniel Kahneman, Andrew M. Rosenfield, Linnea Gandhi, and Tom Blaser;

"Visualizations That Really Work,"  Scott Berinato;

"Right Tech, Wrong Time,"  Ron Adner and Rahul Kapoor;

"How to Pay for Health Care,"  Michael E. Porter and Robert S. Kaplan;

"The Performance Management Revolution,"  Peter Cappelli and Anna Tavis;

"Let Your Workers Rebel,"  Francesca Gino;

"Why Diversity Programs Fail,"  Frank Dobbin and Alexandra Kalev;

"What So Many People Don't Get About the U.S. Working Class,"  Joan C. Williams;

"The Truth About Blockchain,"  Marco Iansiti and Karim R. Lakhani;

"The Edison of Medicine,"  Steven Prokesch, January–February 2017


MIT Sloan Management Review

The 20 Most Popular MIT Sloan Management Review Articles of 2017

1. The Jobs That Artificial Intelligence Will Create
A study by Accenture on new categories of jobs that will emerge as AI is deployed.

2. Reshaping Business With Artificial Intelligence
Report from MIT Sloan Management Review and the Boston Consulting Group.

3. Analytics as a Source of Business Innovation
This 2017 MIT Sloan Management Review report on data and analytics.

4. The Smart Way to Respond to Negative Emotions at Work
Author Christine M. Pearson

5. Achieving Digital Maturity
2017 report on digital business by  MIT SMR and Deloitte.

6. The Most Underrated Skill in Management
Nelson P. Repenning, Don Kieffer, and Todd Astor - The discipline of clearly articulating the problem you seek to solve before jumping into action.

7. How Big Data Is Empowering AI and Machine Learning at Scale
Big Data is powerful on its own, as is artificial intelligence. What happens when the two are merged?

8. The End of Corporate Culture as We Know It
MIT SMR editor in chief Paul Michelman

9. Why Design Thinking in Business Needs a Rethink
Authors Martin Kupp, Jamie Anderson, and Jörg Reckhenrich

10. Turning Strategy Into Results
Leaders can translate the complexity of strategy into guidelines that are simple and flexible enough to execute.

11. Your Company Doesn’t Need a Digital Strategy
George Westerman,  MIT: In digital transformation, digital is not the answer. Transformation is.

12. Corporate Sustainability at a Crossroads
MIT Sloan Management Review and the Boston Consulting Group - Companies can develop workable — and profitable — sustainability strategies to reduce their impact on the global environment by incorporating eight key lessons.

13. What to Expect From Artificial Intelligence
Advances in artificial intelligence are likely to change the workplace — and the work of managers.

14. ‘Digital Transformation’ Is a Misnomer
Gerald C. Kane, Pprofessor of information systems at the Carroll School of Management at Boston College -    "
It’s helpful to think of digital transformation as “continual adaptation to a constantly changing environment.”

15. The Five Steps All Leaders Must Take in the Age of Uncertainty
Corporate executives need to become active influencers within broader systems to realize more desired state of affairs in the business environment.

16. Harnessing the Secret Structure of Innovation
Companies can improve their odds of sustained success by taking advantage of information about the unfolding innovation process (Science of Innovation).

17. Five Myths About Digital Transformation
Villanova University professor Stephen J. Andriole, Professor, Villanova University - Grasp the realities of digital transformation — Don't getting seduced by the hype - Realize the myths.

18. 12 Essential Innovation Insights
Dozen of the best insights on innovation.

19. How to Monetize Your Data
Thoughts on  figuring out how to derive a profit from the massive data being collected inside and by others outside.

20. How to Thrive — and Survive — in a World of AI Disruption
MIT Sloan Professor Erik Brynjolfsson - It is world with rapidly changing work - accept it and develop new skills as an organization and also as an individual


California Management Review


California Management Review upload

Top YouTube Videos Related to Management 2017

Upgrading management technology | Leerom Segal
320k views in 2017


Andrew Ng: Artificial Intelligence is the New Electricity

Sri Rama's Life - A Lesson in Inner Management

Act Like the Leader You Want to Be

Just Say "Yes" to Challenges for Success - Eric Schmidt, Executive Chairman, Alphabet Inc

LinkedIn CEO Jeff Weiner on Compassionate Management

Important Management Books of 2017

Competing on Analytics: Updated, with a New Introduction: The New Science of Winning
Thomas Davenport, Jeanne Harris
Harvard Business Press, 29-Aug-2017 - Business & Economics - 320 pages

January 3, 2018

January - Management Knowledge Revision


 Management News

To take care of holidays during December - January revision articles are specified from third week only.

Frederick Taylor
Picture Source:

January 3rd Week  15th to 19th 2018

Development of Management Subject. Theory of Management developed over a long a period of time with periodic quantum jumps in thinking.
Scientific Management/Shop Management - F.W. Taylor Introduction

Principles of Industrial Engineering - Taylor - Narayana Rao - Derived from Principles of Scientific Management by F.W. Taylor



Taylor - Narayana Rao Principles of Industrial Engineering

Industrial Management and General Management - Henri Fayol
Importance of Human Relations in Management - Elton Mayo and Rothelisberger (Insights from Psychology)

Organization as a Social Group (Insights of Sociologists)
Mathematical Models and Their Optimization

Control of Variation in Inputs and Outputs (Insights from Statistics)
Systems Approach in Management

Business Conceptualization (Insights from Economics, Engineering Economics, Managerial Economics, Industrial Economics)
Peter Drucker - Business Organization - Economic Function - Social Responsibility

January 4th Week   22 to 26,  2018

Global and Comparative Management
Management: Definition and Process

Process and Functions of Management -

The Nature and Purpose of Planning - Review Notes
Objectives and Goals - Review Notes

Strategies, Policies, and Planning Premises - Review Notes
Business Firm and Society - The External Environment, Social Responsibility and Ethics - Review Notes

Decision Making - Review Notes  -
Summary - Principles of Planning

February Month Management  Knowledge Revision

One Year MBA Knowledge Revision Plan

Month                 Subjects

January      (Principles of Management)
February    (P.of M & Marketing Management ) 
March        (Mktg. Mgmt. & Operations Management)
April          (Supply Chain Management and Financial & Cost Accounting)

May          (Management Accounting & Organizational Behavior)
June          (Innovation, Industrial Engineering and Economics)
July           (Economics, Engineering Economics, & Managerial Ethics)
August      (Statistics, Quality and Six Sigma, OR & BRM)

September (HRM, Mentoring, Training, Project Management, Maintenance, Energy & Environment Management)
October     (Information Technology and Management Information Systems, Warehousing and Transport)
November (Strategic Management & Financial Management)
December (Business Laws, Negotiation, Taxes and Government Relations)

Industrial Engineers support Engineers and Managers in Efficiency Improvement of Products, Processes and Systems

Industrial Engineering - January Knowledge Revision

Updated  4 January 2018,   26 December 2016,  4 December 2016, 26 January 2016