r the
value of the study of the psychology of management.[3]

This question, like the one that precedes it, is answered by
Scientific Management. It has demonstrated that the emphasis in
successful management lies on the _man_, not on the _work_; that
efficiency is best secured by placing the emphasis on the man, and
modifying the equipment, materials and methods to make the most of
the man. It has, further, recognized that the man's mind is a
controlling factor in his efficiency, and has, by teaching, enabled
the man to make the most of his powers.[4] In order to understand
this teaching element that is such a large part of management, a
knowledge of psychology is imperative; and this study of psychology,
as it applies to the work of the manager or the managed, is exactly
what the "psychology of management" is.

FIVE INDICATIONS OF THIS VALUE.--In order to realize the
importance of the psychology of management it is necessary to
consider the following five points:--

1. Management is a life study of every man who works with other
men. He must either manage, or be managed, or both; in any case, he
can never work to best advantage until he understands both the
psychological and managerial laws by which he governs or is governed.

2. A knowledge of the underlying laws of management is the most
important asset that one can carry with him into his life work, even
though he will never manage any but himself. It is useful,
practical, commercially valuable.

3. This knowledge is to be had _now_. The men who have it are
ready and glad to impart it to all who are interested and who will
pass it on.[5] The text books are at hand now. The opportunities for
practical experience in Scientific Management will meet all demands
as fast as they are made.

4. The psychology of, that is, the mind's place in management is
only one part, element or variable of management; one of numerous,
almost numberless, variables.

5. It is a division well fitted to occupy the attention of the
beginner, as well as the more experienced, because it is a most
excellent place to start the study of management. A careful study of
the relations of psychology to management should develop in the
student a method of attack in learning his selected life work that
should help him to grasp quickly the orderly array of facts that the
other variables, as treated by the great managers, bring to him.

PURPOSE OF THIS BOOK.--It