This academic paper titled A Biography of Henry Ford has a total of 1084 words and 5 pages.
A Biography of Henry Ford
Henry Ford was an American industrialist, best known for his pioneering
achievements in the automobile industry. From humble beginnings he was able to
create a company that would rank as one of the giants of American and World
industry long after his death. There is no doubt that Henry Ford was a successful
business man. The Ford Motor Company, Henry Ford\'s legacy, has left its mark
on every continent in the world. However, Ford didn\'t gain his success solely on
his innovation in the automobile industry. He was a friend to the middle class
public as well as the workers in his factories. For this he was rewarded with
financial success by the same people he looked out for. Moreover, he repeatedly
gave back to society through donations, philanthropic foundations, and the
creation of organizations that would help to educate and benefit the people.
Henry Ford was a man who gained world-wide business success through his
innovative ideas, brilliant management skills, and down-to-earth tactics.
Henry Ford was born on a farm near Dearborn, Michigan, on July 30,
1863, and educated in district schools. He became a machinist\'s apprentice in
Detroit at the age of 16. From 1888 to 1899 he was a mechanical engineer, and
later chief engineer, with the Edison Illuminating Company. In 1893, after
experimenting for several years in his leisure hours, he completed the construction
of his first gasoline engine. His first automobile was completed in 1896. The
body was a small crude wooden box, it had a single seat, a steering tiller, bicycle
wheels, and an electric bell on the front. In 1903 he founded the Ford Motor
At first, like his competitors, he made cars that only the wealthy could
afford. But later he came to believe that every man, no matter what his income,
should own a car. This resulted in the inexpensive "Model T" in 1908. It brought
great financial success to his company. The Model T was in production until 1927
when it was discontinued in favor of a more up-to-date model. While in
production the company sold over 15 million cars. In 1913 Ford began using
standardized interchangeable parts and assembly-line techniques in his plant.
Although Ford neither originated nor was the first to employ such practices, he was
chiefly responsible for their general adoption and for the consequent great
expansion of American industry and the raising of the American standard of living.
By early 1914 this innovation, although greatly increasing productivity, had
resulted in a monthly labor turnover of 40 to 60 percent in his factory, largely
because of the unpleasant monotony of assembly-line work and repeated increases
in the production quotas assigned to workers. Ford met this difficulty by doubling
the daily wage then standard in the industry, raising it from about $2.50 to $5.
The net result was increased stability in his labor force and a substantial reduction
in operating costs. These factors, coupled with the enormous increase in output
made possible by new technological methods, led to an increase in company profits
from $30 million in 1914 to $60 million in 1916.
Ford believed that most of the profits should be used to increase the size of
the company\'s factories. This was an unusual practice at the time. The other
stockholders wanted to split the profits among themselves in the form of dividends.
Ford didn\'t like opposition in his company so he bought out all the other
stockholders in 1919. Within the ensuing few years, however, Ford\'s preeminence
as the largest producer and seller of automobiles in the nation was gradually lost to
his competitors, largely because he was slow to adopt the practice of introducing a
new model of automobile each year, which had become standard in the industry.
During the 1930s Ford adopted the policy of the yearly changeover, but his
company was unable to regain the position it had formerly held.
In the period from 1937 to 1941, the Ford company became the only
major manufacturer of automobiles in the Detroit area that had not recognized any
labor union as the collective bargaining representative of employees. At hearings
before the National Labor Relations Board, Henry Ford was found guilty of
repeated violations of the National Labor Relations Act. The findings against him
were upheld on appeal to the federal courts. Ford was constrained to negotiate a
standard labor contract after a successful strike by the workers at his main plant at
River Rouge, Michigan, in April 1941.
Early in 1941 Ford was granted government contracts whereby he was, at