The business of business is business. - Alfred P. Sloan

My father was in the wholesale tea, coffee, and cigar business, with a firm called Bennett-Sloan and Company. In 1885 he moved the business to New York City, on West Broadway, and from the age of ten I grew up in Brooklyn. I am told I still have the accent. My father's father was a schoolteacher. My mother's father was a Methodist minister. My parents had five children, of whom I am the oldest. There is my sister, Mrs. Katharine Sloan Pratt, now a widow. There are my three brothers — Clifford, who was in the advertising business; Harold, a college professor; and Raymond, the youngest, who is a professor, writer, and expert on hospital administration. I think we have all had in common a capability for being dedicated to our respective interests.

Get the facts. Recognize the equities of all concerned. Realize the necessity of doing a better job every day. Keep an open mind and work hard. The last is most important at all. There is no short cut.

Technological progress — and it is a pity more do not appreciate it — is the one sound approach to increased employment and higher wages. There is no other way. Irrespective of what is being said to the contrary, new industries can be created, present industries can be expanded, unemployment can be eliminated in a practical way