Henry Ford, Assembly Line and Model T
- Begins selling 1915 for $440
- By 1925 a record 9109 cars are made in one day, the lowest prices is $290
- 15 million made by 1927
- Most of the manufacturing is done in Detroit--Motown
- Introduction of the Assembly line and factoring increases output
- Assembly line: speeds the process of goods, there were many people working so the job could be done faster (in assembly line fashion)
- Supply +/Demand - =prices -
- Supply -/Demand + =prices +
Summary
Henry Ford begins selling Ford model's in 1915, making millions in the process as people began spending in the boom of the 20's. As more people were spending the demand was high he introduced the Assembly Line. This was the process to speed the process as more people were working and the job was done faster.
Quotes
"Life is a series of experiences, each one of which makes us bigger, even though sometimes it is hard to realize this. For the world was built to develop character, and we must learn that the setbacks and grieves which we endure help us in our marching onward." -Henry Ford
"Failure is simply the opportunity to begin again, this time more intelligently." -Henry Ford "If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability." Henry Ford |
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Questions?
What would have happen if Ford would never have introduced the Assembly Line? What would have been different?