June 20, 2024
SDFM CEO Rich Brady takes a moment to reflect and compare our field of finance and accounting to other industries previously reshaped and transformed by revolutions. He notes, while embracing the digital revolution integrity, transparency, and ethical conduct must remain guiding principles.
Integrity, transparency, and ethical conduct must remain our guiding principles as the digital revolution reshapes our profession.
In 1923, Alfred P. Sloan became CEO of General Motors (GM) during a period of significant challenges. The U.S. automobile industry was consolidating from more than 250 manufacturers and grappling with supply-and-demand disruptions caused by World War I and the Influenza Pandemic of 1918. GM faced inefficient management, inconsistent product lines, and intense competition. Sloan implemented a transformative strategy focused on decentralization, granting more autonomy to divisions while maintaining central control over strategic decisions. He introduced a market segmentation approach, offering a car “for every purse and purpose,” which broadened GM’s appeal. He also emphasized innovation and consumer research, enhancing product quality and marketing.
