Business Journal . m, Dick and Harry, whom you are now training, take that 80 per cent, railroad and run itsaccomplishment up to the 100 per cent. mark. Your efforts,therefore, are directed against the commercial waste, justas the efforts of instructors in the technical schools are di-rected against scientific waste. You bear to the commercialstruggle the relation that West Point and Annapolis bearto warfare—you train the warriors. So we have Waste analyzed, and your relation to it de-fined. We can now afford to consider briefly the laws andprinciples of efficiency that have been worked out so
Business Journal . m, Dick and Harry, whom you are now training, take that 80 per cent, railroad and run itsaccomplishment up to the 100 per cent. mark. Your efforts,therefore, are directed against the commercial waste, justas the efforts of instructors in the technical schools are di-rected against scientific waste. You bear to the commercialstruggle the relation that West Point and Annapolis bearto warfare—you train the warriors. So we have Waste analyzed, and your relation to it de-fined. We can now afford to consider briefly the laws andprinciples of efficiency that have been worked out so that,later, we may apply them to our own needs in the educationof the men who are to struggle with the problems of com-mercial accomplishment. First of all, in undertakings of any size we must have theworking organization, by which capital is enlisted and effortdirected for the accomplishment of the organization service, as well as in strictly profit, enterprises, we havethe need for Capital and Homer S. Pace. Capital supplies the tools or equipment that render effortmore fully productive, and in judging the efficiency of amanagement, we must always allow for capital a principal has insufficient equipment, the results of hiswork should be judged in the light of such handicap. Effort must be expended, and it divides between managerialand that which is expended in the direct promotion of theobject. In teaching, the managerial effort is found in theprincipal and superintendent, and the direct effort is ex-pended bj the teacher in class. In manufacturing, similarly,we have the superintendent or foreman and the manualworkers; in the army, the officer and private, and so onthroughout all organized effort. The greatest of all efficiency principles is the Law of Co-ordination, because it knits together the capital and themanagerial and subordinate effort of the organization for thepromotion of the object. Without proper co-ordination oneprincipal work
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