In an interesting example of partial cognition, the authors of The American Business Creed present an analysis on the basis of selected materials. Bu… - Francis X. Sutton

The logical reader can only conclude that had Mr. Du Pont been as devoted to the facts as Mr. Sloan alleges, he would have been paralyzed in indecision, or even more, he certainly have discontinued the production of Chevrolets.

Viewed schematically, the activities of governments involve first the politician, who buys votes for the party in power; then the impractical theorist in the civil service — usually a professor in disguise — who conceives grandiose and unworkable plans; finally, these are executed and administered by the hidebound bureaucrat. The characteristic vices of these three species of homo politicus differ, , but they share a common feature: the absence of those personal virtues possessed by businessmen. Their heads are neither clear, hard, nor level; none of them is really honest; all of them lack practical imagination and the desire to get things done.Their heads are neither clear, hard, nor level; none of them is really.

Characteristically, the factors determining, the outcome of business efforts are numerous, and difficult both to assess and control. The sale of goods on a more or less free market is, of course, one major source of these difficulties; the disposition of buyers are subject to only limited control and prediction. They in turn are influenced by those diffuse but important factors which go under the label of general business conditions. Even within the context of a given firm there may be conditions and possible courses of action (such as personal appointments, or the performance of certain equipment) which may be beyond ready prediction and control. A great part of the efforts of entrepreneurs is directed towards minimising uncertainties.