Organization and Administration, Vol. 1 : Factory Management Course (Classic Reprint)

Excerpt from Organization and Administration, Vol. 1: Factory Management Course

Experience with a large variety of manufacturing concerns has convinced me that the difierence between the successful and the unsuccessful concern is simply the difierence between the right and the wrong consideration of that most important of all factors in industry - the human factor. The more I analyze matters, the more certain I become that man is the real investment in business. Money is of course important, materials and machinery have to be purchased, but beyond and above all these things stands man. The success of an enterprise depends entirely upon the men who are charged with the care and handling of the material resources. In other words, a wise investment in men insures a good return in dollars and cents, and a poor investment in men means, sooner or later, the failure of the concern.

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