I just finished That Used to Be Us by Thomas L. Friedman and Michael Mandelbaum. It is one of the best books I have read over the past few years and stimulated much thought concerning the USA’s current economic situation and the steps that they deem necessary to reverse the negative trends currently being experienced in our society.
Many of the ideas and recommendations can also be applied to the challenges the accounting profession is currently facing. Accounting firm profit margins have been declining for some years yet we continue to practice in the same manner. This quote from Samuel Palmisano about IBM especially struck a chord,
“You spend more time arguing amongst yourselves over a shrinking pie than looking to the future and so you miss the big turn”
Don’t miss the next big turn in public accounting because you are focused on a shrinking pie.
