Henry Ford - A Great Innovator

Introduction Contd...

In December 1999, Ford was named the 'Automotive Entrepreneur of the Century' by the Car of the Century (COTC) International panel of journalists and historians for his invaluable contributions to the world and in particular to the field of automobile manufacturing. Dick Holzhaus, founder, COTC International (Netherlands), commented, "The twentieth century can, in retrospect, be regarded as the 'century of the car' – a revolution of technology and lifestyle. In this revolution, Ford Motor Company paved the way both as a manufacturer and as an industry leader. It was Henry Ford's vision to give people unprecedented mobility that changed the lives of millions throughout the world."⁶ These awards and recognitions were in recognition of Ford's invaluable contributions to the automobile industry.

Ford was credited with enhancing the standards of living of people with his inventions like the quadricycle and the Ford Model T, and his use of the assembly-line production approach in the early 1900s. Ford had formulated a philosophy of three Ps – People, Products and Profit – for his company. Explaining the relationship between the three Ps, he said in 1916, "I don't believe we should make such an awful profit on our cars.

A reasonable profit is right, but not too much. I hold that it is better to sell a large number of cars at a reasonably small profit......I hold this because it enables a larger number of people to buy and enjoy the use of a car and because it gives a larger number of men employment at good wages. Those are the two aims I have in life."⁷

Background Note

Ford was born on July 30, 1863 during the US Civil War in a farmland at Dearborn, near Detroit, Michigan. His mother passed away in March 1876.

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6] As quoted in the article, "Model T, Mini Win Centennial Awards," by Jack Nerad, posted on www.netscape.drivingtoday.com, December 31, 1999.

7] As quoted in the book, Built to Last, by James Collins and Jerry Porras, HarperBusiness, 1994, page 53.

Case Details

Case Code : LDEN025
Themes: Corporate Social Responsibility, Entrepreneurship
Case Length : 13 Pages
Period : 1903
Organization : Ford Motor Corporation
Pub Date : 2003
Teaching Note : Not Available
Countries : USA
Industry : Automobile

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