Sheldon broken away from the “Scientific Management”,which is Widely available and a rigid research methods, the established the “Philosophy of Management.” The main points of his Philosophy of Management are as following: attention to grasp the whole meaning of management; individuals in industrial relations are not only workers but also a person with civil rights; industrial organization itself is the complex of the crowd rather that a sophisticated machine; management is an art with scientific property, but it is not science itself; research on industrial organization should not be retreated into the mechanical engineering research. The paper argues that Sheldon’s Philosophy of Management which is of great reference significance to China is essentially a social philosophy on industrial management.