The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-11-04

veloped. and unframed. to tho great
financial loss OF the corporation, as
we'll as to tho damage OF its reputa-
ton. We must Judge corporation
by II agents its employees from
prs eident to porter. However com
petent some of its employees, the sue
cess OF their work and It's value to
the corporation or TO its patron, the
lui lie, Ia grentiw lessened bv the IN
&C M ssetence of ether employees, usaa!lJ
hose fl closes touch with lie pub-
lie Corporations will spend th1us-
AIDS cn machinery bettermeut where
they spend hundreds or less on MAJ,
betteTment. Yet what machinery DOES
net csc In efficiency when wrongly
WIN ~ inefficient operators? TIA, nf-
Eltes 70 the ''fnaehinery' or al de-
rattmeuts.
tf the employees in sll departments
We're developed up 10 "a certain grade
of efficiency, SO that there Is no weak
link in the chain. IL would make a
big difference in the profit and loss
account.
Boards of directors frequently sub
nit ia a penny wise. pound foolish"
policy, merely because minority OF
their Stockholders too cautiously re
their own number. OF majority OF
thelr stockholders refuse 10 throw
good money after bad, "or any money
after an uncertainty.
BEt ia such cases their loss Is not
am uncertainty but II certainty
1t is primary principle IN eco
nomics that IL you Will put up with ah
competent operator your machine
mast saffer-~-to your financial lose.
-. t4v,tt ~
nelenoy resulting only from trained
tear, work requires time and
money, bui it pays for itself many
times over.
In the last resort efficiency ts ia
the individual, Il result of Individual
effort~tus. as team efficiency" is
the result of the cooperative efforts
of all The individual workers. every
one OF whom must be efficient or de-
tract from the percentage OF team
efficiency
Five and make 10; but and 4,
or 4 and 3, never VIII make A.ore
| than 9, So II 10 IL necessary, and
or : aud must ever result in
failure.
A miss is az bad as a mile In most
things where efficlaney Ii important,
The members OF board OF direc-
tors ara individual trustees obligated
to do certain things individually, as
we'll as to do other things collectively.
not only tor the protection but for
| the progress of their institution. HaN-
/ ing accepted the responsibility. what
right has the individual trustee to
| permit without protest any picayune
| policy that saves al the spigot and
| spurts at the hung
More than ever before the general
employees Of corporations are feeling
their responsibility. realizing the need
OF greater efficiency in their indi-
vidual work Az a rule, the employ es
| are willing to do their part towards
| attaining greater efficiency II allowed
! the opportunity Many a corporate
( management faced with that question
| answers; Within rea sonable bounds
We viii gladly pay for all the prac-
! tical instruction our emvoyes Will
| take They give their time and study,
I Wa give the required money, and we
, both share the benefits"
Another management-~not yet I'M
| Outstanding profit" IN Its wider
sense---exclaims Millions for ma
chinery. but not one cent FOR men
beyond wages"
One result IL needless degree OF
ignorance and inefficiency among EN-
profits, however prosperous the com
par az a whole. When YOU lose a
dal!ar where sAssu should have made
a dollar. you are certainly "tSvo dol
. lars out" however you conceal the
fact.
IL stockholders and directors and
all boards OF managers could realize
this simple, basic fact. commercial,
financial and general corporate and
Arm efficiency would soon advance 10
marked degree that would make a
wonderful gain in net earnings and
in cash dividends.
The neglect of employers to train
their employees In efficiency liz bring
Ing forth results that ought TO give
us pause. The employees Of the last
generation are tho employers Of this
generation.
one essential Of efficiency is honesty.
II employees are not only allowed. but
frequently taught to do dishonest
things for the benefit Of their en-
pIoyees, win they cease being dis
honest when they in turn become EN-
ployers? In England, at least. 1t ap-
pears that they do not cease being dis
honest. but rather increase IN dis
honastly~-as Is the law of vice. Wit
ness the last word on that subject
uttered October 80, ny Dr. reginald
John Campbell. pastor OF the City
Temple, In his lecture at tho First
Baptist church, in Philadelphia. He
said. Conditions in the business world
are such to-day. that the business man
must take gross advantage OF his COM
petiturs, or go to the wall, Compati-
ton III too keen. AZ matter OF fact.
no successful business man In modern
times IL honest"
What horrible confession for a
Christian minister TO utter. mighty
good reason for suoh a disastrous
stxtement--and the truer IT 10 the
more disastrous--mey be found In
something eise that occurred IN Pail
adciphia on tie same day
DR.. Max vafworm. OF the University
Of Bonn. Germany. celebrated AZ a
Psychologist which usually means =