Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-02

I know most Of their industry. Appli-
cation of the principles can be made
to every Industry
6. After the economic basis has been
laid in manufacturing, in distribution,
in potential markets and in selective
profitable distributing outlets, would
turn my attention to craftsmanship.
America hasn't touched the problem
Of selecting statesmen. The broad field
OF anthropolgy contributes precise in
formation. scientific description, on a
savage tribe in deepest Africa. The
missionary goes out with definite idea
of the tribe he is approaching.
Importance Of Statesmen.
The manufacturer knows little or
nothing of retail statesmen, he denies
ownership and control. yet his destiny
is in the hands of the retail statesmen.
The first step is selection. This is
the work ofs the practical psychologist.
The second step is training and this
is less the work of the more expert
enced than it, is of one with the gift
of. teaching.
The third is direction, the fourth is
control.
The fifth is the question Of compen-
sation-and this concerns itself with
mems susceptibility to rewards for their
labors.
In concentrating exclusively within
our own organizations, the more friend
ly, intimate and warm the relationship
between the factory and retail salesman
becomes. the more permanent, profitable
and perfect becomes the selling process.
With 100000 idle, selection can be
made more readily than ever before,
selection of retail. wholesale, speciality
and promotional statesmen, the only four
classes of statesmen there are.
With stern necessity facing men they
are susceptible to training as never be-
fore Yours is the job of direction and
of control
With compensation graduated and
bonuses for superiority, you can make
men more appreciative and thus more
loyal than ever before.
The thing to do is to man our organi-
cations with power enough to contact
our entire 'potentials." Select this man
power and control it intelligently. Com
pensate this man power handsomely if
the work is done
7. AS all of these changes are being
inaugurated, look to your line more
carefully than ever before-if it is
luxury line with dominant style APP
peal, 1t ordinarily profits by length or
numbers-but avoid in numbers the
danger of pure ''duds.''
If it is a unitarian line shorten it
and give price advantage or obtain
greater proflt-for concentration on the
minimum is the guide to profit where
the unitarian appeal dominates.
Example: In the low and medium
priced field. model numbers are generally
of model cuts profits-in the high
priced, model numbers are generally
the key to profit unless they are carried
too far.
Coverage then is the thing. Univer-
salty OF appeal in the utilitarian-indi-
vidual taste in the style or luxury mar
ket.
8. Direction by management was
never more important. In days Of gen.
cral prosperity goods were taken away
by an eager consuming public. Today
management must direct all things
must be on the job eternally. Thought
itself was never so needed-thinking
executives earn more today than ever
before.
9. The purchasing power of the dol
lar must be measured. If general
prices are from 20 10 80 per cent of,
our products may remain as formerly
priced, but should have additional in
trinsic worth.
Accommodation to the reduced buying
power of the Nation or to the increased
buying power of the dollar must be
made.
10. For the sake of profits watch
every opportunity to refinance at pres
ent favorable rates. No man knows how
long depression lasts. If lower levels
are to remain, fixed charges should be
reduced. If higher levels come, re-
financing at present levels will mean
better profits.
IL. Let labot's wage be regarded as
the first charge on productive industry.
For labor not only contributes living
stones" to the building Of our enter
prises, but constitutes the prime mar
ket for essentials or necessities and the
volume market for the most luxury
goods and services.
Ricardo's Iron law OF wages" still OBJ
tains. The lost day Of labor can never
be replaced.