Henry Ford is the founder of the globally renowned Ford car company. He himself wrote the history of Ford and revolutionized the modern automobile industry. From a man who is considered to be eccentric, crazy and ignorant of cars, Henry Ford has become a man respected and respected by the people of the world.
In addition, Henry Ford boldly declared: “I will make a car for the majority of people” and put forward a business philosophy that economists at that time were very difficult to absorb.
Companies need to be concerned about making sure that their workers can buy the products they produce. In other words, employers need to play a role in promoting product consumption. For a business to grow sustainably, reducing working hours and increasing salaries for employees is even an effective way to cut production costs.
If cars are mass-produced products primarily for the American people in general, not for the wealthy, Ford workers can afford to buy the products that they have worked hard for day.
However, this change of Henry Ford gave rise to many other problems. He was fiercely opposed by his colleagues when he paid a salary that was too favorable to the market. They say this action has “put the entire US automobile industry in jeopardy”.
Even now, the Wall Street Journal was ironic: Because Ford did not pay attention to the service life of the service he provided, he did not obey the rules of business stated in the Bible, so he would not gain anything. The newspaper also warned that action could lead him to hell.
That proves Henry Ford right. Paying double to workers did not kill Ford as many warn, but also doubled the company’s profits and sales continued to boom. Henry Ford once said: “Increasing double salaries for employees and reducing working hours is one of the most cost effective moves we have ever made.”
After 20 years, Ford sold 17 million Model Ts, accounting for nearly half of all cars produced in the world during that time. The car industry has become the fulcrum for a new economy. It facilitates mobility, expands the reach of urban areas, and provides opportunities for suburban residents to enter the city for work.