Nor is any reform or improvement possible without finances or credit.Īn essential condition of success is to keep a constant watch over the financial position of the business. Many potentially prosperous enterprises die suffering from a lack of money. Shrewd financial management is necessary to obtain capital, to make optimum use of available funds, to avoid foolhardy commitments. Books online: General and Industrial Management, 2013. Capital is required for personnel, plant, tools, raw materials, dividends, development, reserves, etc. Fishpond Fiji, General and Industrial Management by Henri Fayol Constance Storrs (Translated )Buy. The contribution of Henri Fayol is well known to even the beginning student of management. Carter, Department of Management, University of Notre Dame, Notre Dame, IN. London: Pitman and Sons, Ltd., 1949, 110 pp. Nothing is done without this function entering into it. General and Industrial Management by Henri Fayol, (Constance Storrs, Trans.). Long-term foresight, and, to an increasing extent in large-scale concerns, the use of contracts.įinally, when products pass from one section to another, within the same concern, the commercial function must see to it that prices determined by a higher authority do not give rise to dangerous Illusions. Knowledge of buying and selling is just as important as knowledge of efficient production.Ĭommercial ability includes, together with acumen and decision, a thorough knowledge of the market and of the strength of competitors.
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