Henry Ford is one of the richest men in the history of the world in part due to his entirely new approach to car manufacturing. He did not invent the automobile; he instead changed it and innovated on it. Also he marketed it to a brand new untapped market, which created his entire fortune. Henry Ford was a self-made man and businessman who impacted almost every part of American culture.
Henry Ford came from a poor farming family but, he created his fortune and became the ninth richest man in the history of the world when adjusted for inflation. His parents were poor Irish immigrants who came to America during the Irish potato famine during the 1840’s. Born in 1863, and not having any interest in the family farm, Ford left to become an apprentice at a machine shop in Detroit at age sixteen before becoming an engineer with Edison Illuminating Company in 1891. While working for others, Ford would tinker with engines in his garage during his spare time and finally built his first car in 1896 which he sold for $200 so that he could build another. Soon, he was able to create the Ford Motor Company with $150 thousand from private investors in 1903. Five years later, the first Model T came out at a price of $825. In the next 15 years 15,500,000 Model T’s were built and Ford amassed a fortune of what would now be $199 billion when adjusted for inflation. With that money he became the ninth richest man in the world and truly a self-made man.
Henry Ford was also an incredible businessman. From the very beginning, he had three main goals in mind while making automobiles. He thought that they should be lightweight, sturdy enough for the unimp...
... middle of paper ...
...e-Dollar Day." American History in Context. Gale Cengage Learning, n.d. Web. 3 Dec. 2013.
Bellis, Mary. "Henry Ford (1863-1947)." About.com Inventors. N.p., n.d. Web. 3 Dec. 2013.
Cornell, Thomas D. "Ford, Henry." US History in Context. Gale Cengage Learning, 2005. Web. 3 Dec. 2013.
Di Rocco, Samuel, II. "Ford, Henry." American History Online. Facts On File News Services, 2009. Web. 7 Dec. 2013.
"Ford Installs First Moving Assembly Line 1913." PBS. PBS, 1998. Web. 07 Dec. 2013.
Gesisst, Charles. "Ford, Henry." American History Online. Facts On File News Services, 2006. Web. 3 Dec. 2013.
"Henry Ford." History.com. A&E Television Networks, 2013. Web. 03 Dec. 2013.
"People and Discoveries: Henry Ford." PBS. PBS, 1998. Web. 03 Dec. 2013.
Warner, Brian. "The 25 Richest People Who Ever Lived – Inflation Adjusted." Celebrity Net Worth. N.p., 10 Oct. 2013. Web. 07 Dec. 2013.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Corporate social responsibility is an altruistic deontology established as a self guiding framework structured to establish trust across a range of stakeholders. The intent to uphold corporate social responsibility (CSR) within a business is noble. However, considering numerous ethics violations documented by the U.S. Securities and Exchange Commission, U.S. Federal Trade Commission, and U.S. Department of Labor, the loosely guided CSR deontology appears to be a public relations front for capitalistic extremists who caress their egos for greed.... [tags: Enron, Enron scandal, Business ethics]
840 words (2.4 pages)
- ... He was know for his hard- charging style so he got the nickname “Charlie Hustle”. The nickname was given to him by an All-Star New York Yankee pitcher by the name of Whitey Ford. A few years after he retired from the game of baseball he got a managerial job with his hometown team the Cincinnati Reds (Biography). A few years after Mr. Rose got the job with the Reds he was questioned by then commissioner of baseball Peter Ueberroth on gambling charges. A month later the rumors circulate publicly about Rose’s gambling problems and he also said, “ I’d be willing to bed you, if I were a betting man, that I have never bet on baseball.” In June of 1989 Giamatti’s report which was confidential... [tags: invention, civil war, negro league]
1544 words (4.4 pages)
- The Vietnam War was fought over North wanting all of Vietnam to be communist. The war was a twenty year war starting in 1954 and ending in 1975. The Vietnam War, a long war between North and South Vietnam over communism, impacted all generations by changing the way all Americans viewed war the U.S. presidents during the Vietnam War had different views some wanted to support the war and some wanted to end the war, thereby affecting U.S. policies, and by physically destroying Vietnam, which affected the country for many years after.... [tags: Vietnam War, Lyndon B. Johnson, South Vietnam]
1574 words (4.5 pages)
- It is a good practice to buy American made goods if possible. Because the American public no longer thinks before they buy an item, we are losing out manufacturing base every day that passes on the calendar. Every day you watch the news there are stories about how bad the economy is and getting worse with each tick of the clock. In the recent history, United States of America was the leading exporter of goods but now we run a trade deficit each year. John Carpenter in the article “Why You Should Buy American Made Products,” at the website http://ezinearticles.com has made the point that the American public has to take a share of the blame because they have lost their patriotism and pride.... [tags: Economy, Made in America]
616 words (1.8 pages)
- Strategic Planning: Ford Motor Company Planning is an essential process in today’s organizations. Based on the three types of managers: top-level (strategic managers), middle-level (tactical managers), and frontline (operational managers), exist three corresponding levels of planning: strategic, tactical, and operational. The purpose of this essay is to focus on the strategic level of planning for the Ford Motor Company; a leader in the global automobile industry. Strategic planning, according to Bateman and Snell (2009), “involves making decisions about the organization’s long-term goals and strategies” (p.... [tags: Ford Motors Case Study Strategic Planning]
1709 words (4.9 pages)
- It seems like most cars on the road today are Fords. No matter the shape nor model the iconic blue logo always Seems to stand out. Ford began in 1890 when its legendary founder Henry Ford built the first ever Quadricycle. In 1903 Ford Motor company becomes incorporated, and in 1908 Ford introduces the first ever Model T. Fast forward to present day and Ford is still making innovative additions to their vehicles especially when it comes to technology. Over the past 126 years Ford Motor Company has been both successful and profitable. They attribute their success to their work in local communities as well as their ability to Franchise their brand throughout the nation.... [tags: Ford Motor Company, Henry Ford]
838 words (2.4 pages)
- Henry Ford: An American Icon It takes a very brave person to take a leader role and make the world a better place. Ford treated each and every one of his workers with respect. In return, the workers gave Ford all they had and one-hundred percent on anything and everything they did. Henry Ford did not just step up and make himself look good, he helped the country and even the entire world by chasing his dreams. Even from a young age, he set out to do something great, and thats what he did. Henry Ford was a man with a dream, without his determination and willpower, the automotive industry wouldn't be where it is today.... [tags: famous entrepeneurs of America]
1310 words (3.7 pages)
- The Ford Pinto Case Evaluating the Ford Pinto Case by taking an ethical approach, makes judging the decisions made on a cost-benefit analysis difficult. Cost-benefit analysis puts a price on human life and compares it to the cost of a something else. To judge this case, a look at separate consequences must be made, weighing the good and bad results of an action on everyone affected by it (DeGeorge, 2010, p. 44). Ford’s production of the Pinto was not done in an illegal manner. However, Ford ignored morally relevant events that ultimately led to the Pinto’s controversial safety record.... [tags: Ford Pinto, Ford Motor Company]
1035 words (3 pages)
- We get around places in different ways. The most useful way of transportation is by the use of vehicles. They have been around for numerous years. In addition, each and every year they come more efficient and technically advanced for the consumers’ personal use. A company that has been around since the first production of cars is the Ford Motor Company. Since 1903 to present day, their vehicles have been efficient to the consumers’ demands. To begin with, in 1903, Henry Ford and eleven other investors founded the Ford Motor Company.... [tags: Ford Motor Company, Assembly line, Henry Ford]
731 words (2.1 pages)
- The following is some of the department, which Ford has;- 1. sale department 2. Production department 3. Finance department 4. Marketing department 5. Human resources 6. Research and design Which each department are in the Ford organisation and how they help Ford become successful;- • Sales department The sale department focuses on the sale of the car i.e. how much the cars are going for etc. Also the sales department helps ford organisation customers with a variety of ways of buying the cars for example if a customer wanted to buy a car but the different of ways which the customer can pay is simple from monthly payments to weekly payments.... [tags: Case Analysis Business Ford]
1104 words (3.2 pages)