Capital Investments and Personal Finance Management

With artists and virtuosi of every kind, … what they earn should become their capital, whereas they recklessly regard it as mere interest and thus end in ruin. On the other hand, those who possess inherited wealth at least know at once and quite correctly what is capital and what is interest.

Management is defined here as the accomplishment of desired objectives by establishing an environment favorable to performance by people operating in organized groups. Each of the managerial functions (planning, organizing, staffing, , directing, and controlling) is analyzed and described in a systematic way. As this is done, both the distilled experience of practicing managers and the findings of scholars are presented. This is approached in such a way that the reader may grasp the relationships between each of the functions, obtain a clear view of the major principles underlying them.

In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.