Ford Motor Company
The Ford Motor Company was one of several hundred small automobile manufacturers that emerged between 1890 and 1910. After five years of producing automobiles, Ford introduced the Model T, which was simple and light, yet sturdy enough to drive on the country's primitive roads. The mass production of this automobile lowered its unit price, making it affordable for the average consumer. Furthermore, Ford substantially increased its workers' wages, in order to combat rampant absenteeism and employee turnover which approached 400% annually, which had the byproduct of giving them the means to become customers. These factors led to massive consumption. In fact, the Model T surpassed all expectations, because it attained a peak of 60% of the automobile output within the United States.
The production system that Ford exemplified involved synchronization, precision, and specialization within a company.
Read more about this topic: Fordism
Famous quotes containing the words ford, motor and/or company:
“Our long national nightmare is over. Our Constitution works; our great Republic is a government of laws and not of men. Here the people rule.”
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Its name might better be First Motor Kite.”
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