Term Papers on A Biography Of Henry Ford

Term Paper Title	A Biography Of Henry Ford
# of Words	1078
# of Pages (250 words per page double spaced)	4.31

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 Company.

     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 stoc...

This is ONLY a preview of the article. If you would like to view the entire document, you must subscribe to Digital Term Papers. Please register below now!

Digital Term Papers has over 63,000 essays, term papers, and book notes online. Many paper sites will charge you hundreds of dollars for a single paper. Digital Term Papers only charges $14.95 for a one month membership with instant account activation!

Don't waste anymore time! Join NOW!!!

1 Month (automatic renewal) ($14.95)

3 Months (automatic renewal) ($29.95)

6 Months (one-time billing) ($39.95)

Pay by: