The importance of people

A. H. Foster

Abstract
It is well recognized that people constitute the most important asset of a business. Since the turn of this century, there have been at least three distinct theories concerning the management of human relationships in business---the scientific management, human relations, and professional management theories. The latter is currently being followed. This paper outlines one company's approach to implementing the theory by getting good people, training them well, putting the right man on the right job, being sure he knows what is expected of him, holding him accountable for performance, and rewarding him accordingly.