Henry Ford, My Life and Work (1922)
American founder of the Ford Motor Company in 1903 (pictured right), who made his famous
Model T in 1908-27.
Time magazine’s businessman of the twentieth century and creator of the first moving mass production assembly
line (pictured right below).
He died in 1947
Henry Ford in the Business Leaders section.
Henry Ford's tips for business success
1. Customer service
The aim of business is to serve customers through quality products that are:
This customer driven purpose will:
Constantly experiment with new ideas to see if they can be developed into great
For example, Henry Ford used Vanadium
steel, because it was lighter and stronger.
3. Vision and leadership
Henry Ford was driven by his vision of producing a
low priced quality car for the “great multitude”.
4. Motivating employees
Henry Ford strongly opposed unions, until a strike in 1941 forced him to accept
His employees were:
5. Continuous learning
6. Low cost production
Production costs (and so prices) must be minimized through:
7. Effective decision making
The best decisions must be made, irrespective of people’s personal likes and dislikes.
8. Sell what you do best
Beat competitors with your competencies.
“Whoever does a thing best ought to be the one to do it”, says Ford
Key quotes on customers and production
Any customer can have a car painted any colour that he wants so long as it is black.
Key quote on the service profit chain
Profit...must be the result of service.
Key quote on business success
There is no disgrace in honest failure; there is disgrace in fearing to fail.
Key quote on interviewing and selection
Whoever does a thing best ought to be the one to do it.
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