Excerpt from The Elements of Industrial Management
What does the manger of an enterprise do? Chiefly he makes decisions. Then he may or may not see to their carrying out. Others may do this for him, but they cannot make the big decisions for him.
How does a man learn how to do this deciding? Chiefly by experience, which is the great and the expensive teacher of men in worldly things. It is possible, however, that a man may acquire experience much faster if he knows the principles that underlie his work. With the object of training young men in the principles that underlie the problems that face the works manager, the Wharton School of Finance and Commerce in the University of Pennsylvania has for some years been giving a course called Industrial Management.
This book has grown out of that course, and it is being published in the hope that it may be of benefit to young men who are at work and have not the prospect of attending this kind of a college.
I wish to express my appreciation of the kindness rendered by Dr. F. W. Van Meter in reading the manuscript and making editorial changes and suggestions.
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