Music Trade Review
Issue: 1914 Vol. 58 N. 1 - Page 3
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
MUJIC TIRADE
VOL. LV1II. N o . 1 Published Every Saturday by Edward Lyman Bill at 373 Fourth Ave., New York, Jan. 3, 1914
MNG
|foo p S % f i * E N T S
ETHODS of conducting business arc constantly changing, and unless a man remodels his
business system to meet with the shifting times it is pretty sure that he will be left high
and dry by the onward move of the never-halting business procession.
No matter whether we like the old methods or not—no matter whether we consider
the new sensational and unstable, the facts are we must move with the trade stream. The tide is
resistless and it is sweeping us along.
A writer has described the modern business institution as a three-legged stool. One of these
legs is capital, another is labor and the third is management.
Capital can be borrowed for any good commercial proposition by the right man.
Labor can be hired, but efficient management calls for resources and capacity such as few men
possess.
Management—therein lies the genius of the successful business man.
. . . . . . • • ..,
The primitive manager was a slave driver. He controlled by sheer force of inefficient'co-operation:
In days past success depended upon this sort of management, but to-day it is rare, and judg-
ing from the signs of the times the species will shortly be extinct. The newer management; looms
up large in the minds of business men. Every attempt to describe it involves the use of-such*-"words
as co-operation and efficiency, and back of these lies the human element as an impelling power.
True co-operation demands of the employer that he produce goods at a lower production cost,
or that he distribute goods at a lower selling cost. It demands, too, that the employer co-operate
with the employe to the end that his services may become more valuable and that he may earn
more.
In recent years many millions have been saved and the living conditions of countless men
improved by the application of the newer principles of management, and management means the
kind of direction which results in creating profits for the enterprise.
How to secure it?
The answer is not easy, no matter how lightly some men may treat it, because the thinking
men know that it is harder all the while to produce net profits from a business enterprise. There
are so many things which enter in the way of expenses that do not appear upon a superficial
examination, but which lower very materially the net profits.
It is, therefore, of vital interest that every business man go down to the very depths of his
enterprise and ascertain the real costs of everything.
It is indeed true that there are some men manufacturing pianos to-day who do not know the
actual cost of the instruments. They have not given the subject the close analysis which it deserves,
and there are thousands of men who are selling pianos who do not know what it costs to sell them,
and because this very ignorance exists is one of the fundamental reasons why there are less wealthy
piano merchants in the country to-day than there should be.
Surely the business has been large—the number of pianos marketed annually shows that—but
how about the profit?
Certainly business costs demand the closest investigation, and the closer they are investigated
the more interesting facts will be revealed.
. .
M
(Continued OH page b.)
THE
MUJIC TIRADE
VOL. LV1II. N o . 1 Published Every Saturday by Edward Lyman Bill at 373 Fourth Ave., New York, Jan. 3, 1914
MNG
|foo p S % f i * E N T S
ETHODS of conducting business arc constantly changing, and unless a man remodels his
business system to meet with the shifting times it is pretty sure that he will be left high
and dry by the onward move of the never-halting business procession.
No matter whether we like the old methods or not—no matter whether we consider
the new sensational and unstable, the facts are we must move with the trade stream. The tide is
resistless and it is sweeping us along.
A writer has described the modern business institution as a three-legged stool. One of these
legs is capital, another is labor and the third is management.
Capital can be borrowed for any good commercial proposition by the right man.
Labor can be hired, but efficient management calls for resources and capacity such as few men
possess.
Management—therein lies the genius of the successful business man.
. . . . . . • • ..,
The primitive manager was a slave driver. He controlled by sheer force of inefficient'co-operation:
In days past success depended upon this sort of management, but to-day it is rare, and judg-
ing from the signs of the times the species will shortly be extinct. The newer management; looms
up large in the minds of business men. Every attempt to describe it involves the use of-such*-"words
as co-operation and efficiency, and back of these lies the human element as an impelling power.
True co-operation demands of the employer that he produce goods at a lower production cost,
or that he distribute goods at a lower selling cost. It demands, too, that the employer co-operate
with the employe to the end that his services may become more valuable and that he may earn
more.
In recent years many millions have been saved and the living conditions of countless men
improved by the application of the newer principles of management, and management means the
kind of direction which results in creating profits for the enterprise.
How to secure it?
The answer is not easy, no matter how lightly some men may treat it, because the thinking
men know that it is harder all the while to produce net profits from a business enterprise. There
are so many things which enter in the way of expenses that do not appear upon a superficial
examination, but which lower very materially the net profits.
It is, therefore, of vital interest that every business man go down to the very depths of his
enterprise and ascertain the real costs of everything.
It is indeed true that there are some men manufacturing pianos to-day who do not know the
actual cost of the instruments. They have not given the subject the close analysis which it deserves,
and there are thousands of men who are selling pianos who do not know what it costs to sell them,
and because this very ignorance exists is one of the fundamental reasons why there are less wealthy
piano merchants in the country to-day than there should be.
Surely the business has been large—the number of pianos marketed annually shows that—but
how about the profit?
Certainly business costs demand the closest investigation, and the closer they are investigated
the more interesting facts will be revealed.
. .
M
(Continued OH page b.)
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