It believes that these are complementary concepts under any economic or social philosophy, whether it is based on state capitalism, private capitalism, or some combination of them. It believes that this is true so long as business operations conform with public policy, and are in consonance with accepted business ethics in the particular economy. It believes further that under any economic philosophy, a profit is a reward of capital for a successful acceptance of business risk in the rendering of an economic service. Since values are satisfactions of needs, both economic and non-economic organizations should operate profitably, in the sense of producing surplus values. Leadership is a major factor in the accomplishment of its mission by any organization.
Management is the work of executive leadership.
The success of a modern industrial society and, therefore, the development or maintenance of high living standards for its citizens, depends on a continuous improvement in the quality and managerial effectiveness of all business and governmental executives. The Society for Advancement of Management is an organization whose activities contribute broadly to professional improvement of the field of Management. An important activity is adult education. SAM is in a unique position to contribute effectively to executive development, particularly at the community level. The Society asserts, therefore, that it has the following mission.