Industrial management, as a field of Commerce & business administration, studies the structure and organization of industrial companies. It comprises those fields of business administration that are necessarThe term industrial company is generally applied to a manufacturing firm that – contrary to a crafts business – produces consumer durables in factories from raw materials in mass and serial production (division of labour) using modern manufacturing machines.y for the success of companies within the manufacturing sector and the encompassing services (primarily operations management, marketing, and financial management).The precursor of the study field industrial management was factory management. It had a strong similarity with technical management and was geared towards the engineering fields. Parallel to this, there was also a factory management that was more in the area of business economics. This dealt with the organizational questions of factory and office administration as well as financial accounting, e.g. the factory bookkeeping and late also management accounting.