Harvard Business School - Yearbook (Boston, MA)

Page 31 text:

dministrative The Second Year, which emphasizes the integra- tion of business problems and recognizes that specialized knowledge and skills have real importance, had one required course which did both,-Administrative Policy. It sets the viewpoints at the level of top managements . . . the big pic- ture . . . and co-ordinates the activities ol all other departments. ln the first year, Business was separated into distinct groups lor pedagogical reasons. ln this course there is integration and the subsequent building upon the first-year worlc. This was our First taste ol the functions of an executivef' a realization ofthe company's position in the light ol external and internal situations, determination ol the obiectives of the company, and subsequent procedure to realize these obiectives by administering a policy both internally and externally. We also adopted the long-range view of guiding and maintaining the business which involves frequent reappraisal and altering of the First principles. The stated results: an understanding ol the nature of prob- lems affecting the company and the development of an ability to deal realistically with these problems. ,W ,Y , , .- ...we .i5mQM.g,. 'ii ' rig afifielliii W fit 55,1 ge ,Z rv Ha i l i KLM to Right, Seatecb: Professor George Albert Smith, Professor Melvin Thomas Copeland, Professor Thomas Henry Sanders. fSf6Z71diI1gD,'JOl1H Mervin Kinard, Insrructorg Assistant Professor Carl Roland Christensen Professor Richard Stockton Meriam, Associaet Professor Myles La Grange Mace.

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QLe-fi' to Riglatj: Assistant Professor Kenneth Richmond Andrews, Associate Professor john Desmond Glover, Associate Professorjoseph Cannon Bailey. QStandingJ: David Norman Ulrich, Insrrucror. ln a broad sense an industrial organization may Practices 1 , be spolcen oi as having two major functions- producing a product-and creating and distributing satislactions among the individuals comprising that organization. The former concerns itself with costs, profits, and etticiencyi the latter with employer and employee relations. The two Functions are inter- dependent and interrelated. Ad.Prac. aims at developing ad- ministrative skills in maintaining balance between the purposes of the organization and individual satisfactions. ln the past the attention of management has been directed to the economic Function oi an organization. Engineers and scien- tific businessmen have instituted controls to further the economic purpose of a concern and the individuals who are part oi it. l-lowever, too little attention has been given to the development of slcills and their application For securing co-operation-getting individuals to work eitectively together and derive satisfaction. Ad.Prac. reached out and drew our attention to this latter problem -a neglected area-and aroused our interest while helping us develop methods of treating the ills.

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Control is the study of Figures for business administration- principally it is concerned with learning ways that business can collect needed Facts, how the administrator can, and must, interpret the facts lor application to his business, and, Finally, it is vitally concerned with the action which must be taken on interpretation ot past Facts, probable future Facts, and often on half-facts. It is the study of the limitations ot Figures, their proper prospective, and the ways and means of maldng them erlect the best control ot business operations. The tools ot business control are studied-accounting, cost ac- counting, statistics, forecasting. Not studied iust as ends in themselves, these tools equip the student to use business Figures wisely-to malre the mostol what youlve got , to stay on top of the situationn, to control business operations with wisdom and imagination. At times it is reported to be uninteresting-but no subiect is more vital to good management. r Y- Z2 lw fn V Zee Y L' tit 'Egg' tin ttttiiittm iiillgefl it jg 'tt lui 3 fLe I to Rzglzftj Professor Arthur Warren Hanson, Professor Charles Andressen- Bliss, 4Assisrant Professor Thorron Frederick Bradshaw. Urrrerrj: Assistant Professor Robert Osher Schlarfer.