The Saga of Lee Iacocca - From Ford to Chrysler
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : LDEN009
Case Length : 10 Pages
Period : 1924-2001
Pub Date : 2003
Teaching Note :Not Available
Organization : Ford, Chrysler
Industry : Automobile
Countries : USA
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Introduction Contd...
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Complementing the skills and abilities of Iacocca,
author Anthony Robbins5 said, "All
truly successful people such as Lee Iacocca have a driving force within them
that sets them apart from others. A desire, an energy that gives them the fuel
to reach their true potential.
This force is a part of them 24 hours a day, seven days a week. It never
subsides. Their total existence is sustained for the fulfillment of their goals.
The passion within this individual to achieve has been so deeply implanted, that
their mental power is driven by this force and will not let them do anything
other than achieve"6...
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Background Note
Lido Anthony Iacocca, popularly known as Lee Iacocca (Refer Exhibit I) was born
in Allentown, Pennsylvania in the US on October 15, 1924. His father, Nicola
Iacocca and mother Antoinette Iacocca were Italian immigrants. Since his
childhood, Iacocca believed in the value of hard work and never shirked from
any kind of work. At the age of 10, he used to take his vehicle to
departmental stores and transport shoppers' items for a small amount.
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At the age of 16, he worked for 16 hours a day in a
fruit market. Iacocca graduated in Science (Bachelors in Industrial
Engineering) from Lehigh University, Bethlehem, Pennsylvania, US in
1945. In 1946, he also completed his Master's degree in Mechanical
Engineering from Princeton University, New Jersey, US. Iacocca began his
career at Ford in August 1946 as an apprentice engineer.
He was inducted in a training course known as 'loop training,' which
provided on-the-job training for a week in every department of the
company. However, after staying for nine months in this 18-month
program, Iacocca realized that he was not interested in an engineering
job. He gradually changed his career path and moved to sales... |
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