Alfred P. Sloan
Alfred P. Sloan
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Full Name and Common Aliases
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Alfred Pierson Sloan Jr., commonly known as A.P. Sloan, was an American business executive and engineer.
Birth and Death Dates
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Born: May 23, 1875, New Haven, Connecticut, USA
Died: February 17, 1966, London, England, UK
Nationality and Profession(s)
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Nationality: American
Professions: Business Executive, Engineer
Early Life and Background
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A.P. Sloan was born into a family of modest means in New Haven, Connecticut. His father, Alfred Pierson Sloan Sr., was an engineer and inventor who worked on various mechanical projects. This early exposure to engineering and innovation likely influenced Sloan's future career choices.
Sloan attended the Massachusetts Institute of Technology (MIT), where he earned his degree in mechanical engineering. After graduating, he began working for General Motors (GM) as a test driver and engineer.
Major Accomplishments
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During his tenure at GM, Sloan implemented several significant changes that transformed the company into one of the largest and most profitable automakers in the world:
Integration of Chevrolet with GM: Sloan successfully integrated Chevrolet into the GM family, increasing the company's market share and profitability.
Standardization of parts: He introduced a system of interchangeable parts across various GM brands, reducing production costs and improving efficiency.
Introduction of the annual model change: Sloan pioneered the concept of introducing new car models annually, which became a standard practice in the industry.Notable Works or Actions
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In addition to his work at GM, Sloan co-authored several books on business management and economics:
"My Years with General Motors": This autobiography, published in 1963, provides valuable insights into Sloan's experiences as a business leader.
"The Theory of the Business Enterprise": Co-authored with fellow GM executive Charles Kettering, this book explores the principles of business management and strategy.Impact and Legacy
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A.P. Sloan's impact on the automotive industry cannot be overstated:
Transformation of General Motors: Under his leadership, GM became a dominant force in the global auto market.
Influence on modern business practices: Sloan's innovations, such as standardization and annual model changes, are still widely adopted today.Why They Are Widely Quoted or Remembered
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A.P. Sloan is remembered for his:
Business acumen and vision: His ability to identify opportunities and drive change transformed GM into a global powerhouse.
* Leadership style: Sloan's emphasis on delegation, empowerment, and continuous improvement set a high standard for business leaders.
As a pioneering figure in the automotive industry, A.P. Sloan continues to be widely quoted and remembered as a master of business strategy and innovation.
Quotes by Alfred P. Sloan
The late Alfred P. Sloan, Ir., long-time executive of General Motors Corporation, had a fivepoint “secret of success.” It was: 1. Get the facts. 2. Recognize the equities of all concerned. 3. Realize the necessity of doing a better job every day. 4. Keep an open mind. 5. Work hard.
Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hoped for, or for that matter to accept temporary losses.
Take my assets – but leave me my organization and in five years I’ll have it all back.
If we are all in agreement on the decision – then I propose we postpone further discussion of this matter until our next meeting to give ourselves time to develop disagreement and perhaps gain some understanding of what the decision is all about.
The greatest real thrill that life offers is to create, to construct, to develop something useful. Too often we fail to recognize and pay tribute to the creative spirit. It is that spirit that creates our jobs.
Take my assets - but leave me my organization and in five years I'll have it all back.
Some have an idea that the reason we in this country discard things so readily is because we have so much. The facts are exactly opposite-the reason we have so much is simply because we discard things so readily. We replace the old in return for something that will serve us better.
It is astonishing what you can do when you have a lot of energy, ambition and plenty of ignorance.
The late Alfred P. Sloan, Ir., long-time executive of General Motors Corporation, had a fivepoint "secret of success." It was: 1. Get the facts. 2. Recognize the equities of all concerned. 3. Realize the necessity of doing a better job every day. 4. Keep an open mind. 5. Work hard.