lee iacocca
DESCRIPTION
Intellectual PersonalityTRANSCRIPT
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The Success Story of Lee Iacocca
A straight – shooting businessman
By
Shailaja Darur
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Sage Speak---by Dad
• America – Land of Freedom
• Best business – Food
• Things look bad right now, but remember this too shall pass on
• Why walk when you can run?
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At Ford
• Joined as student engineer
• First teachers– Murray Kester and Charlie Beacham
• McNamara---President, Maker of Falcon
• “Management is motivating People”
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Father Of Mustang
• Cardinal and Edsel
• Fairlane Committee– ‘417 by 4/17’– Net profit:$1.1 billion in 2 yrs
• “Our hotcakes are selling like mustang”
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As President of Ford
• Mercury Marquis and Cougar
• Mark III and IV outsold Cadillac
• Two ways of making money– Sell More OR – Cut Costs
• “Four Fifties”
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Iacocca Vs Henry
• I love my job, even though many people viewed it as a kind of position that grinds you up and kills you off. But I never saw it that way. To me it was sheer excitement.
• If a guy works for you, don’t let him feel too comfortable, cozy and set in his ways.Always do the opposite of what he expects.Keep your people anxious and off balanced.
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Joining “Chrysler- sinking ship”
• As a process of “re-engineering” , Iacocca was made to leave the Ford
• John Riccardo resigns,Iacocca new President of Chrysler
• Chrysler wasn't just bleeding, it was hemorrhaging.
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Building the Team
• Business can be reduced to three words– People– Product and – Profit
• Work is what keeps individuals alive
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Ad Campaign
• Straightforward and Frank advertising– If you find a better car – buy it.– Would America be better off without Chrysler?
• Real impact on the public
• RESULT: $1.2 billion loan amount was sanctioned
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Lessons Learnt
• Get all the education you can, but then, by god, DO SOMETHING!!
• Don’t just stand there, make something happen.
• It isn’t easy, but if you keep your nose to the grindstone and work at it, it amazing how in a free society you can become as “great as you want to be”