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To serve a client, know his industry— and serve his industry as well. Why does Haskins & Sells regard this two-fold objective of industry knowledge and industry service as so important? How does the Firm mobilize resources to give its objective practical effect? Serving Clients- The answer to the first question is fairly simple" according to Executive Office partner Thomas B. Hogan, whose responsibilities include coordination of industry relations and activities. He says, "It stems from the fact that each industry tends to have distinctive characteristics that set it apart from other industries, some more so than others. Unique problems result, and these must be studied to be understood. Moreover, despite the fact that organizations within an industry are basically competitive with each other, their common problems force them to band together, typically in trade associations, for their mutual protection and advancement!' Accountants who are sensitive to their clients' needs and their industries' characteristics and problems are bound to develop constructive contributions, if they are persistent and innovative, whether in the areas of accounting, auditing, financial reporting, tax matters or MAS techniques.These contributions benefit their clients in the first instance, and when the accountants can so skillfully articulate their contributions as to share them with an entire industry they advance the progress of that industry's total membership. By so doing, they can enhance the prospects of the client whose livelihood comes from within that industry. The answer to the second question- How does the Firm mobilize to meet its objective?—"is more complex;' says Tom Hogan, adding that "the challenge is not easily met, since it calls for the skillful coordination of a widespread body of talent operating on what is sometimes a virtually global basis. It entails the wise allocation of time so as to achieve maximum immediate effectiveness in day-to-day tasks, while preparing imaginatively for future effectiveness in a world of incessant change that causes continuing shifts in industry patterns. Moreover, a successful response to the challenge depends heavily on those subtle qualities of human personality and character that can never be programmed on computers: true intellectual curiosity, persistence in study, a disposition to immerse oneself in new subject areas, and a willingness to'go the extra mile' not only in acquiring expertise but in sharing it generously with others!' While the years have seen many shifts in the administrative techniques the Firm has used to meet its industry challenge, three basic concepts have clearly shaped the selection of techniques. First, the partner in charge of an engagement—the man on the firing line who, in the eyes of his client, is Haskins & Sells—must personify the Firm's total expertise. He must commit himself to his client's industry and communicate this commitment. His role is paramount, whatever the industry—or industries—in which his client operates. Second, in fulfilling his commitment, the engagement partner must be aided by the resources of the entire Firm, however they may be structured and wherever they may be located. The Firm has never supposed that any magic wand could be waved by which industry sophistication could be concentrated at any single point. It has held, instead, that industry expertise must arise from the full interflow of ideas and experience throughout the entire Firm. Effective interflow comes not only from a system of communications but also from a spirit of communications, an alertness to phenomena that affect industries, the enterprise to flag developments to the attention of those with the need to know, and the skill to do so clearly and promptly. At the Executive Office, for example, there is hardly any unit that does not contribute in one way or another to the interflow of industry expertise. As the Firm's nerve center, the EO tries to monitor all developments that can affect industries: the impact on these industries of accounting principles and procedures; the emergence of auditing concepts and techniques that have special value for particular industries; the effect of taxation on industry operations; and advances in management science that can help an entire industry progress. Moreover, it uses a variety of communication methods—including such vehicles as the Subject File Binder—to channel industry information throughout the Firm. Third, in backstopping the engagement partner, the Firm must recognize that within the total range of industries there are clearly certain ones in which characteristics and problems are so unique and demanding—or the Firm's activity so substantial—that they must be given special attention in a formal way. It is this third concept that has given rise to the building ofacorps of industry experts for a group of twenty-four selected industries. These experts, who are located throughout the country, are designated as "specialists," or as "coordinators!' They have been assigned to industries in these categories: agricultural cooperatives, oil and gas, textile mills, paper and paperboard, publication and printing, primary metals, rail transportation, truck transportation, water 14