Economics of Business (Classic Reprint)

Excerpt from Economics of Business<br><br>During the past twenty-five years, American industrial and business life has undergone many changes. Increased competition cut profits to a narrow margin, and in order to lower costs, the entrepreneur has been driven to a study of factory conditions. The factory, therefore, is to-day the center of investigation and study. The wastes of time, energy and materials revealed by this study amazed even the most successful entrepreneurs. Efficiency, the modern watchword, demands organization, system, cost accounting, coperation and cordination and touches business activities outside the factory, as advertising, buying and selling. No branch of industry has escaped investigation, and the result is a great awakening to the lack of method and system.<br><br>This study of the various kinds of business activities has produced a literature treating different phases of business. Of all such contributions, the most significant are those made by successful business men who recounted their own experiences, pointed out the broad principles to be derived therefrom and explained the methods by which these principles may be specifically applied. From an analysis of such data, and from a study of the methods of many successful business enterprises have been deduced the fundamental principles underlying business. To express these principles in clear and simple language is the purpose of this book.<br><br>About the Publisher<br><br>Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com<br><br>This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.