The Organization of Modern Business

Paperback | February 4, 2012

byWilliam Rupert Basset

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921. Excerpt: ... CHAPTER IX THE USE OP MONEY IK BUSINESS When a man in business needs money his first thought is to borrow it. One may find elaborate treatises on business finance in which the whole subject is approached as though in business we dealt with money as such. One might infer that successful business somehow grew out of creating marketable securities, or forming sound financial connections, or in some other way closely linking banking and business. Let us take business finance out of the marble halls of banking and see if more real financing cannot be done inside than outside the shop. Let us see if an insistent demand for money is an indication of prosperity, or an indication of bad business management which has confused the functions of business and of banking, or, further, whether that management in a desire for easy money, has borrowed for speculation instead of for business processes. It will not do to put down positive and invariable rules; each case stands squarely on its own merits. This manufacturer may find, that he is first of all a banker. He may find that his most profitable way of doing business is to lend goods over long periods. He may have a class of customers who want extremely long credits. Of course one might say that his proper course would be to educate these customers into the use of short credit, but that is the counsel of perfection. No reason in the world exists why he should not extend one, two, or three-year credits if, and this is the important point, he so organizes himself that the manufacturing and the banking phases of his business are not confused--if he remembers that he is appearing in two functions; first, as a manufacturer and second as a banker who lends goods instead of the money to buy them. His danger is in confusing th...

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921. Excerpt: ... CHAPTER IX THE USE OP MONEY IK BUSINESS When a man in business needs money his first thought is to borrow it. One may find ela...

Format:PaperbackDimensions:54 pages, 9.69 × 7.44 × 0.11 inPublished:February 4, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217362184

ISBN - 13:9780217362184

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