The Waterbury Democrat., 1932-01-22

business failures and the need or flexibility of credit for healthy concerns have made the job of the credit man more important. In ad- dition, says MT Chester, the re- search man will be called upon for new ideas this year. William J. Graham. vice-president of the Equitable Life Assurance society, stresses as basic among the prob lens of management the factors of economic planning and the per sonal element in business.
 Management, vested with the interest and money of stockhold- ers," says MT Graham, must re- alze that the employees are most important factor in the ultimate
 css of cooperative ventures. ay recognition of the human
 ent in business and industry
 'tal. That recognition expresses Iself--and will continue more and more to express itself--in just compensation for work performed. shorter working hours to permit of leisure and the opportunity to meet the economic hazards of life; old age and death benefits through cooperative plans of group insur- ance that only management can make available to employees, through giving them the opportu- nity to protect themselves, eco- nomically, to meet the hazards of sickness and accident-with result ant unemployment and of death and superannuation."
 l.. c. Haribson, president Of the Household Finance corporation, is quoted as saying that the big ex- ecutive problem to-day is integra- tion of overhead management with unit operation. In 1892, he says, the executive heads of big business must adjust their policies of man. agement to the different plane of operation necessary to keep large orga niZation functionirg effective Iy. This process will require an en- tirely different type of business en- gineering.
 Management in 1892 best can fulfill it's obligation to the general public, in the opinion of Benjamin r. Affleck, president of the Univer- sal Atlas Cement company, by con- centrating on the sound fundamen- tals of economies and industry on which business and national prog ress thus far have been based.
 MT Afleck Is quoted as saying:
 America has progressed under a 144-year plan--the United States Constitution - which guarantees equal opportunities to all for indi- yidual development. Schemes that interfere with the free exchange of goods between different states and different sections of the country under the guise of aiding local in- dustry must be opposed. Move ments to put the government still more In business or to give more control or more regulation over industry should be resisted, there by preventing unwise expenditures of public money"
 Ernest T. Trigg, president Of John Lucas and company, states that there is a better feeling among business men generally as to con- dltions for this year. George M. Brown, president of the Certain teed Products corporation. believes that too many cures and schemes generally are being proposed as means of ending the depression. He advocates calm and determined attention to business, following more or less standard, sensible plans, avoiding special undertak- ings and special experiments. Proper planning. he believes, will get business out of It's troubles and keep it out.
 Matthew S. Sloan, past president of the National Electric Light as- sociation and an active participant in the affairs of its public policy committee and it's electric refrig- eration bureau, is quoted as stress ing the importance of intensified selling, close engineering control of operating costs and continued i'm provement in service quality. MT Sloan, who Is also president of the out in addition the importance of iob training and educational courses for employees.
 Thirty-three factors to which the executive will have to give his attention more intenslvely In 1892 are listed by Harold V. Goes, Of Ford, Bacon and Davis. Among these factors are market and dis tribution research. cost methods, budgets and budgetary control, re- search, adequate planning for marketing. distribution and sales programs. production planning. re- placement of obsolete equipment and facilities: base wage and wage incentive policies and plans; train Ing Of key men. engineering and design. industry cooperation. finnn- clnl infringement, office operation nnd effective use of competent pro. fesaionnl assistance in the solution of business problems.