Sunday, January 10, 2010

Henry Ford, the man who truly understood Business

In 1914, the Ford Motor Company shocked the captains of American Industry by raising it¹s wage rates for work shift from $2.40 a day to $5.00 a day and adopting the new 8 hour work day.

Henry Ford¹s idea was when workers have more money they buy cars. The idea worked and sales of cars quadrupled and the economic climate of Detroit boomed.

Would that companies and the US government learn from this example that bore such sweet fruit!

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