Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Engineering is the creative application of science, mathematical methods, and empirical evidence to the innovation, design, construction, operation and maintenance of structures, machines, materials, devices, systems, processes, and organizations. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application. See glossary of engineering.
Industrial may refer to:
Industrial engineering is a branch of engineering which deals with the optimization of complex processes, systems, or organizations. Industrial engineers work to eliminate waste of time, money, materials, person-hours, machine time, energy and other resources that do not generate value. According to the Institute of Industrial and Systems Engineers, they create engineering processes and systems that improve quality and productivity.
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
You manage things, you lead people. We went overboard on management and forgot about leadership. It might help if we ran the MBAs out of Washington.
Grace Hopper (1987), quoted in "The Wit and Wisdom of Grace Hopper" by Philip Schieber, OCLC Newsletter, No. 167 (March/April 1987)
A company will get nowhere if all of the thinking is left to management.
Akio Morita (1987). Made in Japan, p. 149
When I looked at the science of engineering and saw that it had disappeared after its ancient heritage, that its masters have perished, and that their memories are now forgotten, I worked my wits and thoughts in secrecy about philosophical shapes and figures, which could move the mind, with effort, from nothingness to being and from idleness to motion. And I arranged these shapes one by one in drawings and explained them
Al-Muradi, The Book of Secrets in the Results of Ideas, 11th century; Translated and cited at leonardo3.net/bookofsecrets/index, 2015