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Eiji Toyoda – The Bard Of The Assembly Line


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Eiji Toyoda died,earlier this week, at the age of 100, almost 30 years after retiring from active management of Toyota Motors.

Like Alfred Sloan and Henry Ford before him, Toyoda was an engineer whose vision dominated the company in its formative years and beyond. He transformed Toyota into a global powerhouse with management and manufacturing processes that transcended the auto industry.

Where would we be without kanban, kaizen, muda, and keiretsu, as well as acronyms like JIT (just in time), TQC (total quality control), ZD (zero defects), and TPS (Toyota Production System)?

Although Taiichi Ohno is known as the father of the Toyota Production System, Toyoda probably deserves more credit for its development. He encouraged his team to learn from W Edwards Deming, to study the Ford production system, and to use data to refine manufacturing processes. Read more of this post

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Get the power…


Originally posted on Give me 5 minutes a day and I'll give you a happier, more successful life!:

Everyone who has learned the power of confidence will tell you that if you really change the way you think and obtain a completely optimistic outlook, it will give you power you never knew was possible. Does that seem hard to believe?

Read about people who accomplished great things like Henry Ford, Albert Einstein, Thomas Edison, Sam Walton (the founder of Walmart), W. Clement Stone (became fabulously wealthy by selling insurance) and many others, and you will see that they accomplished great things because they had something about them that seemed like powerful magic. They had confidence, faith. Positive thinking.

Portrait of Henry Ford (ca. 1919)

Portrait of Henry Ford (ca. 1919) (Photo credit: Wikipedia)

W. Clement Stone went from extreme poverty as a child, to incredible wealth. He is famous for saying “Whatever the mind of man can conceive and believe, it can achieve.” He began selling insurance at a very young age and because…

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Lee Iacocca On Henry Ford


wealthymatters.comThe following is an article from Time Magazine.It is the best short write up I could find on the life of Henry Ford.This is probably the best thing you could read to understand Henry Ford other than his own autobiography Henry Ford: My Life and Work .You can get a copy here of the autobiography here:http://www.gutenberg.org/ebooks/7213

The only time I ever met Henry Ford, he looked at me and probably wondered, “Who is this little s.o.b. fresh out of college?” He wasn’t real big on college graduates, and I was one of 50 in the Ford training course in September 1946, working in a huge drafting room at the enormous River Rouge plant near Detroit.

One day there was a big commotion at one end of the floor and in walked Henry Ford with Charles Lindbergh. They walked down my aisle asking men what they were doing. I was working on a mechanical drawing of a clutch spring (which drove me out of engineering forever), and I was worried that they’d ask me a question because I didn’t know what the hell I was doing–I’d been there only 30 days. I was just awestruck by the fact that there was Colonel Lindbergh with my new boss, coming to shake my hand. Read more of this post

Ford Family – Passing Wealth Down The Generations


wealthymatters,comTo pay for the New Deal, meant to pull America out of the Great Depression, FDR raised taxes in America.A per the new tax laws in 1935, taxes were raised to 50 percent on estates over $4 million and to 70 percent on those over $50 million.Henry Ford didn’t like the implications of these taxes for his business.You can read about his reasoning in these excerpts from newspapers of that time:

http://trove.nla.gov.au/ndp/del/article/62414312

http://news.google.com/newspapers?nid=1915&dat=19250919&id=4AMhAAAAIBAJ&sjid=WnUFAAAAIBAJ&pg=3508,5720783 Read more of this post

Tackling Sales


wealthymatters,comEvery business begins with a single sale.And its pretty obvious that no sale means no business.

For most businesses their founders are expected to be their best salespeople.After all who can be more enthusiastic  or dedicated?So what do you do if sales is really not your thing?

Henry Ford had 161 patents granted to him.He knew his product and knew ways of bettering his manufacturing processes.But he was not much good at sales.Here is an article that sheds light on how Henry Ford tackled sales in the initial years.Read and learn: Read more of this post

Targeting The Mass Market


wealthymatters,com“Don’t drop the price.It will be a race to the bottom”

“Add something else of value to the deal but don’t negotiate on price”

“Target affluent customers who pay well.”

“Go for easy spenders not bargain hunters”

“Prices signal quality”

“Target high margin businesses”etc etc

Advice of the ilk is readily dished out to entrepreneurs today. Undoubtedly such advice has its place.But is this the only way to do business successfully?Read the story below and decide for yourself. Read more of this post

Henry Ford On His Best Friend


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Know Your Limitations


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Keep Learning


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Henry Ford On His Faith


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I believe God is managing affairs and that He doesn’t need any advice from me. With God in charge, I believe everything will work out for the best in the end. So what is there to worry about? – Henry Ford

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