Today's new look: The Challenge of developing management talent;

              TODAY'S NEW LOOK:
THE CHALLENGE
OF DEVELOPING
MANAGEMENT TALENT
by Richard C. Stratford
Richard C. Stratford is partner in charge of the Los
Angeles offi.ce and a member of the firm's Policy Group.
He entered public accounting in Portland, Oregon, in
1935 and when his firm merged with TRB&S in 1956, he
became partner in charge of the Portland office.
A native of Idaho, Mr. Stratford attended the Southern
Branch of the University of Idaho and was graduated
from Utah State University in 1928. Mr. Stratford is a
member of and an active worker in the Church of Jesus
Christ of Latter-day Saints, and after his graduation from
the University he served three years as a missionary in
Germany and Switzerland. Later, when he was partner in
charge in Portland, the firm granted him a leave of ab­sence
so that he could give voluntary service as president
of the Northern States Mission of the Church. He served
in this capacity for three years before returning to partner­ship
activity.
Mr. Stratford is a member of the Oregon State Society
of CPAs and the American Institute of CPAs.
"Though your balance sheet's a model of what balance
sheets should be;
Typed and ruled with great precision in a type that all
can see;
Though the grouping of the assets is commendable
and clear;
And the details which are given more than usually appear;
Though investments have been valued at the sale price
of the day;
And the auditor's certificate shows everything O.K.;
One asset is omitted — and its worth I want to know:
That asset is the value of the men who run the show."
The Accountants Magazine (Scotland)
September, 1960
Peter F. Drucker, a nationally known consultant and
author, said: "The ability of an institution to produce
leaders is MORE IMPORTANT THAN ITS ABILITY
TO PRODUCE efficiently and cheaply." He places the
development of men above that of products or services.
This is obviously true of the accounting profession
today. The success of the individual executive is depen­dent
not only upon his own services but also upon the
men he trains. Our economy is becoming so complex that
his contribution cannot be significant without the develop­ment
of the future "men who run the show."
In contrast to this point of view, forty years ago the
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