ABSTRACT
The large establishment, competitive or monopolistic, comes to be directed by superior talent. Real genius is rare in any kind of activity, as rare in business as in letters or in military leadership. Methods of precision characterize the large industrial business or combination. The large and well-managed establishment has a number of departments, and in the course of his development the young man has an opportunity to be tried out in the several fields of labor. The large combination can extend its business over a broad territory, whereas, generally speaking, the small establishment is limited to a smaller territory. The small shop has no basis for figuring these chance variations, and must therefore carry a large idle or reserve stock In order to compete successfully with the large store. The large competitive establishment has a demand, is equipped with the best facilities, enjoys a division of labor, saves by-products, and maintains an investigating department.
