Business Volume 4, No. 3

Business Volume 4, No. 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...a given concern has earned a certain profit, what do we know of the source, the environment of that profit? A corporation declares a dividend, but who knows whether there is behind that dividend a combination of able management and disadvantageous circumstances, of mediocre management and normal circumstance, or inferior management and luck? "There is another unit and one that seems more equitable, more accurate and more informative; and that is the unit of percentage. The dividend, you know, is merely a rough, over-all measure of efficiency, arrived at by dividing one amount of money by another; it's the reduction to a decimal of a fraction in which the numerator and denominator are expressed in terms of money. But in that fraction we fail to represent all the phases, all the elements, of the business. Might we not set up some other fraction in which would be incorporated or represented all the elements of the business, all reduced to some common mathematical basis for comparison and so arrive at a true measure of over-all achievement? What I'm driving at, you see, is a universal formula. But I'm not at all sure, understand, that the formula is possible. "Now we come to the matter of methods and devices for our measurement and comparison; for rating, in whatever terms we accept and standardize, the elements of the business enterprise and so rating the enterprise. We have at hand a half dozen or more of measuring sticks and measuring methods by which we can measure certain phases of business, certain parts of the business body. "We have Taylor's method of time study and his method of scheduling work, Gannt's method of charting for the control of production, Gilbreth's method of motion study, Cooke's employment score, ...
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Product details

  • Paperback | 40 pages
  • 189 x 246 x 2mm | 91g
  • United States
  • English
  • black & white illustrations
  • 1236747054
  • 9781236747051