An earnest attempt to discover and declare the basic regulative principles of management, with special reference to the shop and factory. In other words, many solutions of the problem of management have been offered, representing personal points of view, but these solutions are merely empirical combinations of methods, some good, others of distinctly doubtful value, and their importance is based rather on the authority possessed by their authors than on close logical reasoning. Management is very far from having attained the dignity of a science at the present time. Yet it baa progressed sufficiently for an orderly, though strictly tentative, statement of fundamental principles to be highly desirable. The logical development of these principles to the point where they touch practice may also be undertaken, and in the present paper this is all that is attempted.