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.
The text book 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.
The exercise book provides an opportunity to train the basic concepts and methods of the quantitative parts of the subject area (product costing, capital investment calculations, bookkeeping, financial accounting, corporate finance, and financial control). It also supports learning by providing study questions focusing on the qualitative concepts and models of the subject area. The exercise book follows the chapters of the text book and contains detailed solutions for all exercises.
