Alfred Sloan

Alfred Pritchett Sloan Jr. (1875-1966) was an American business executive who turned around the fortunes of General Motors, one of the most famous corporations of the 20th century. He became one of the most influential business leaders of his time, an innovator who used financial and organizational methods to transform GM into a business juggernaut.

Raised in New Haven, Connecticut, Alfred Sloan was the son of a blacksmith. His parents taught him to work hard, but they had no money to send him to college. After graduating from high school, Sloan secured a job at Hyatt Roller Bearing Company and proved himself a capable manager within a year. In 1920 he was hired as vice president of General Motors, convinced to take the role by GM president William Durant in what would be a hugely important move for both GM and Sloan himself.

Sloan took over at a time when GM was struggling with financial problems and a lack of direction. He quickly set about revolutionizing the way GM was run. Initially this included cost-cutting measures such as reducing inventory and streamlining the production process. But the main changes were in organizational principles. Sloan divided the company into self-contained divisions each with their own autonomy - this allowed each car to have its own design, production, and sales teams.

Sloan also shifted GM’s focus towards the wider public, recognising that consumers wanted more than simply a basic car. He made a big push on marketing and aimed to make cars more accessible to people of all incomes. Sloan's efforts paid off, and the company enjoyed huge success, becoming the first corporation to have sales of over one billion dollars in a single year.

He was also innovative in the way he ran the company, introducing the professional management style to GM. He established the position of an executive president, as well as introducing budgets and standards for managerial performance. Under his leadership, GM went from strength to strength, becoming one of the largest and most profitable companies in the world.

Alfred Pritchett Sloan Jr. was a pioneering business executive who left an indelible mark on the modern business world. Through his hard work and innovative use of organizational principles, he transformed GM into an industrial behemoth that continues to dominate the industry today. His legacy lives on, inspiring and influencing generations of business leaders.