Sloan and General Motors

Paper Summary:

This paper traces the history of General Motors Corporation and its most important CEO and Chairman, Alfred Sloan to determine the magnitude of Sloan's contribution to the company. It examines how without the presence of certain industrialists, the growth of the American economy would have probably remained stunted and how one such person was Alfred Sloan who served as the President, the Chief Executive Officer and the Chairman of General Motors Corporation for over 30 years. It analyzes how the General Motors Corporation owes most of its growth and huge presence in the automobile industry to Sloan and how it is largely due to Sloan and his business practices that General Motors was the first corporation in the automobile industry in a number of areas to introduce innovative products and practices.

From the Paper:

"Prior to heading General Motors, Sloan already possessed the industrialist vision. He began his career as a draftsman in a small machine shop, the Hyatt Roller Bearing Company of Newark, New Jersey where he urged the management to produce ball bearings. He believed that there was not only a need for bearings at that time but there was a large untapped market as well; hence it made complete business sense. Therefore, at his insistence, the company began producing new anti-friction bearings for automobiles, which formed the basis of Hyatt's expansion. As a direct result of his business foresight and talent, he was appointed the president of Hyatt in the year 1898. Hyatt automotive ball bearings became a standard in the automobile industry, and the company grew rapidly under his leadership. In 1916 the Hyatt Roller Bearing Company, together with a number of other manufacturers of automobile accessories, merged with the United Motors Corporation. Sloan was appointed as the President of UMC. UMC was dissolved in 1919 and individual businesses were incorporated as part of General Motors Corporation."

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