James C. Collins Quotes

Many Of The Abbott Disciplines Trace Back To 1968, When It Hired A Remarkable Financial Officer Named Bernard H. Semler. Semler Did Not See His Job As A Traditional Financial Controller Or Accountant. Rather, He Set Out To Invent Mechanisms That Would Drive Cultural Change. He Created A Whole New Framework Of Accounting That He Called Responsibility Accounting, Wherein Every Item Of Cost, Income, And Investment Would Be Clearly Identified With A Single Individual Responsible For That Item.4 The Idea, Radical For The 1960s, Was To Create A System Wherein Every Abbott Manager In Every Type Of Job Was Responsible For His Or Her Return On Investment, With The Same Rigor That An Investor Holds An Entrepreneur Responsible. There Would Be No Hiding Behind Traditional Accounting Allocations, No Slopping Funds About To Cover Up Ineffective Management, No Opportunities For Finger-pointing.

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