Business Magnates Are Unstinted In Praise of Harvard Research Bureau
Unique, extraordinary, and inestimably valuable,--these were some of the comments passed on the Harvard Bureau of Business Research by prominent members of the shoe industry who have just returned from the annual National Shoe Retailers' Convention at Chicago, when a CRIMSON reporter asked for their opinions.
At the convention, the Bureau, continuing its work of former years, gave an exhibit in which it demonstrated the value and use of its data and methods for scientific cost accounting by shoe retailers. The exhibit aimed to present by charts, graphs, and other data, scientific accounting methods for the help of retailers. The Bureau also endeavored to secure the interest and support of members of the industry so that they would submit regularly their accounts for use in compiling future data.
Mr. A. H. Lockwood, editor of the Shoe and Leather Reporter, had both high praise, and constructive criticism to offer. "The shoe industry," he said, "was probably the first tackled by the Harvard service--and wisely so. In this industry, there is the most urgent need of a scientific system of expense determination. Small retailers have a very difficulty merchandising problem, because the difference between actual profit and gross profit--caused by heavy overhead--is so great. A man who is not scientific is almost sure to become involved. The Harvard service helps such men to calculate their expenses accurately; its value is inestimable, and there is nothing else comparable to it in the industry. My only suggestion would be that the Bureau reduce its advice and methods to terms which are comprehensible to the average retailer's intellect. A retailer deals with goods in a little way and he is likely to be a little man."
"Unique" and "Beyond Praise"
Mr. Arthur Anderson, editor of the Boot and Shoe Recorder, gave enthusiastic commendation to the Bureau. "It is entirely unique in the industry," he said, "and its work is absolutely beyond praise."
At the office of the "Shoe Retailer", another magazine of the industry, there was the same praise. "The Bureau was an outstanding feature of the convention," the reporter was told. "Its excellent work is appreciated more and more by the shoe industry every year. The Bureau never before attracted more attention or did more work."