Study on Industrial Problems using Garrett Ranking Technique

The growth of any nation is positively correlated with the growth of industrial sectors. The management of any industry is indeed a complicated mission as it is bounded by several restraints, which take the form of industrial problems and later as industrial crisis, if uninhibited. To have a hold over these issues, formulation of deterrent measures by the managerial people is highly indispensable. Prioritization of the problems is essential for the decision makers in identifying the significant problems to make the discharge of the measures pertinent. To assist the executive members of the industrial sectors in planning the preventive policies, the technique of Garrett Ranking is used in ordering of the industrial problems. This paper aims in systematic analyzing and grading of the problems of Indian industries and the use of mathematical approach in arriving at the optimal results is the inventive effort of this article. The method of probability sampling is used and the questionnaire method is used for data collection. This research work has several social impacts as it will duly help the decision makers to concentrate on the prime problems of administering the industries, which will in turn benefit the society. This work is different from other works of the researchers in the field of industrial problems as it applies the mathematical model for drawing conclusion. The earlier works were only theoretical but this work has a scientific approach.