Harvard Business School - Yearbook (Boston, MA)

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Z0 flmrricau 1621 12465 America's wealth and strength were developed in a free business economy. However, many have lost faith in, or begun to doubt the ability of this type of economy to meet the needs of the people. If the past achievements of business are to mean anything, those who believe in business must convince the American people that a business economy provides the necessary stability and opportunities. To do this, a new order of business leadership is required. Businessmen must be willing to improve public relations, to support education and research, to develop new methods and products, to collaborate economically with labor and government, and to take direct political action. Business leadership should be candid and honest. It must explain its purposes and methods in under- standable terms to all who will listen. Training and opportunities should be provided for capable young men and women to fill responsible positions. Research should be supported to assure that business leaders have more knowledge of the business process and more facts to guide their decisions. Business must adopt without hesitancy or fear new ideas and products. Its leaders must search for new methods of distribution to match their accomplishments in production and control. Business leaders must cooperate with government and labor to control busi- ness depressions and alleviate the severity of the cycle. The implications of business action upon the economy of our own and other nations must be weighed. The interests of a businessman must be wide and diverse. He must not allow government or labor to win by default, but rather seek to exercise his guidance by taking a leading role in the activities of the community and state. Above all, every businessman must realize that it may take only one more reaction, only one more public protest to destroy the entire fabric of the busi- ness economy. Socialism and communism arc loudly promising solutions. To justify the continued existence of a free business economy, business must be first to suggest and hrst to act in the interest of the country as a whole. The staff of the ANNUAL REPORT 13

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The most important asset of any cor- poration is its know-how - its ability to make buildings, machinery, and man- power turn out a marketable product. A business school's know-how is its fac- ulty and administration. Here are the men who teach the courses, formulate the ideas, perform the research, and do the jobs that keep the school running. At the Business School, we are fortunate in having the foremost faculty and ad- ministration in the field of business edu- cation. Their ability, conditioned by a background of thirty years of experience in teaching and business, has made it pos- sible for us to receive an educational pro- gram considered by business leaders to be the finest in the country. This program consists of a one-year course in the Elements of Administration, and a second-year under specialists in many diverse courses constituting the com- plex and specialized fields of modern business. Surrounding these men are the administrators who strive to provide a more perfect framework for the teacher and the student to communicate with each other.