The purpose of this book is to indicate the natural way to
increase our industrial development. To accomplish this there is
set forth an outline of an industrial policy. This policy relates
to procedure and methods for starting and managing industrial
plants.
It conforms to our economic conditions and offers the safest and
easiest course.
While it is written to create more desirable industrial
establishments within the state and to increase the vitality of
the existing plants, it is distinctly a guide for the individual,
for it facilitates the progress of the man as well as that of the
state.
It is a practical policy that stimulates and energizes the
industrial spirit and at the same time, directs our energies along
the easiest road of progress in personal and state development.
It sets forth certain fundamental principles that apply broadly to
all activities, but specifically to manufacturing and the means
and methods that must be employed to win in the industrial
conquest.
To the investor it provides the best measure by which he can
estimate the economic soundness and prospects of an enterprise. It
gives confidence in right projects, making money available for
things that are right, and reducing the hazard of investments by
eliminating the badly or indifferently managed organizations and
those founded on unsound policies.
To the men in an organization it is also of great value, for by it
they can estimate their own prospects for progress. They risk not
only their earning power but their chances for personal
development. Their chances in acquisition of high degree of
ability and in advance from position to position also depends upon
the policy of management and success of the enterprise. The loss
of opportunity of any of these men really transcends the loss of
money, for it involves the loss of personal development and all
that that means.
It is obvious too that the management of each organization will be
of a more successful type when the entire personnel grasps the
essentials of industrial development.
When these essentials are understood and recognized as standards
of measure there will be less conflict between the investors and
the managers. Then it will be possible for managers and all others
to use all of their energies wholly for progressive work rather
than using a large part of their time and energy explaining each
move to the investors.
Managers need the support and confidence of the investors. Every
day requires a firm adherence to a definite policy. Nothing less
than the firmest determination will hold an organization to a true
course. With a division of opinion, the natural drift is away from
the standards on which modern success depends. Not only is it
necessary to have these principles understood by investors, but
also by all whose opinions will in any way affect the spirit of
the men in the organization.
The whole scheme, as it is set forth, is true to the fundamentals
of human economics, for it provides ways by which the energies of
mind and body are used most effectively. It brings a progressive
growth and creates in each the greatest productive capacity. So
that, as individuals and as a state, we will produce the greatest
value for a given amount of labor.
It is the only way by which we can compete with other states and
countries. It is the natural and inevitable way for Vermonters to
travel.