Worthiness in the industrial sphere can have reference to one thing only, namely the contribution of industry to the sum total of human welfare. On this basis only must industry and all its works finally be judged… The lessons of history teach us that no efficiency of procedure will save from ultimate extinction those organizations that pursue a false objective; on the other hand, without such efficient procedure, all human group effort becomes relatively futile.

p. 97-98. Cited in: Morgen Witzel (2003) Fifty Key Figures in Management. p. 196 - "The principles of organization", 1937