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Henry Ford - Speech or Presentation Example

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Henry Ford “Nothing is impossible to win with a wish to do well” The mentioned statement is actually the motto of great people who have done exceptional things for the growth, development and well-being of society. These great people not only earn fame, popularity, homage and respect but also accumulate health when they turn their unique and distinctive ideas in reality…
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Henry Ford
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Download file to see previous pages Still, Henry had been a courageous fellow with an ambition to improve his conditions and standard of life. From very early age, he joined a small workshop with an inclination to learn and change his lifestyle. Undoubtedly, he had innate interest towards machines, tools and equipments, which induced him to progress in the field of engineering and automobiles. With the passage of time, Henry gained experience and became an engineer of Edison Illuminating Company in Detroit. For instance, he continued his progress in life and promoted to the post of Chief Engineer in 1890s that helped him in maximise his savings due to relatively higher income at his respective key post (Wiley Report, n.d). Henry Ford, with innovative ideas always flowing into his mind, attributed his success to efforts of wife who made him belief about his potential, skills, knowledge and expertise. Henry also established his own firm in early 1890s in collaboration with some investors, which however failed due to some internal deficiencies. Nevertheless, Henry did not quit his job as he was well settled at that time. As mentioned earlier, Ford had natural desire towards machines so he made some experiments of gasoline combustion engines to check their viability, business scope and potential. Finally, the experiments resulted in invention of his first self-propelled four wheeler (of wires) vehicle named Quadricycle. The vehicle was not considered as a huge success as it did not have any gasoline engine unlike gasoline vehicles offered by other manufacturers in the marketplace at that time. Nonetheless, Henry had gained confidence and headed to formation of Ford Motors in 1903, which in later years produced low priced, safe and fuel - efficient automobiles that won the trust of consumers. Indeed, that was the beginning of phenomenal success. Then, the comprehensive launch of consumer – friendly, durable, secure and reliable T-model by Ford Motors triggered its massive growth, and within 15 years Ford Motors had received nationwide consumer acceptance and became a household name. The success of Ford could be easily measured by highlighting the fact that over 55% of total automobile sales across USA were of Ford’s T-model (HFMGV Report, 2003). Ford, then, introduced new quality standards, changed its mission, vision and values so that it could enhance its growth rate and could accomplish its goal of becoming a truly global organization. For instance, the automobile producer emphasized the adoption of modern production techniques, induction of assembly lines, specialized workers, mass production facilities (economies of scale), research and development, product / process innovation, advertising and branding. Indeed, the aforementioned enabled the producer in not only enhancing its sales and profitability in core US markets but also expanding in markets worldwide. Ford has changed the industry dynamics through introduction of safe, reliable, fuel – efficient, uniquely designed and premium quality vehicles for normal and commercial use. The consumers have inclination towards acquiring a Ford automobile as it maximizes their utility (due to need fulfillment) and ensures that they are being valued. In conclusion, the customers adore that the benefits they receive from purchase decision are stupendously greater than monetary costs incurred during ...Download file to see next pagesRead More
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