7 Matching Annotations
  1. Oct 2016
    1. In addition to troubles in the marketplace, Ford experienced troubles in the workplace. Struggling during the Great Depression, Ford was forced to lower wages and lay off workers.

      During tough times difficult decisions must be made. Henry Ford was able to make the hard choices, which is why his legacy of leadership will forever live on. Leaders become leaders because they do the things most people are afraid to do.

    2. Turnover was so high that the company had to hire 53,000 people a year to keep 14,000 jobs filled. Henry responded with his boldest innovation ever—in January 1914 he virtually doubled wages to $5 per day.

      In order to keep your product consistent, you need to ensure that your work force is satisfied with working conditions.

    3. Ford had a bigger vision: a better, cheaper “motorcar for the great multitude.”

      Creating a cheaper car for America gave an opportunity to the middle class to thrive.

    4. The new company failed, as did a second.

      With great success, comes great triumph.

    5. Innovation requires self-confidence, a taste for taking risks, leadership ability and a vision of what the future should be.

      Henry Ford showed that he could be a role model for a greater America.

    6. he stabilized his workforce and gave workers the ability to buy the very cars they made.

      Not only did Henry Ford create a formula to help the general population, it was a self satisfying machine for his employees also.

    7. he was responsible for transforming the automobile from an invention of unknown utility into an innovation that profoundly shaped the 20th century and continues to affect our lives today.

      This is extremely crucial in pointing out that Henry Ford was not the originator of the automobile. But, he perfected the process in which they are made, and did it efficiently.