This timeline focuses on Henry Ford's innovative business and management practices, including his groundbreaking wage policies, labor relations, and marketing strategies.
The $5 Day Wage
1914
Ford introduced the $5 day wage (more than double the prevailing wage) for his workers, attracting a high-quality workforce and boosting employee morale and productivity. This also inadvertently boosted the economy as his workers could now afford the cars they were building.
Vertical Integration
1910s-1920s
Ford pursued vertical integration, acquiring control over all aspects of the manufacturing process, from raw materials to finished products. This gave him greater control over costs and quality.
Purchase of Lincoln Motor Company
1922
Ford acquired the Lincoln Motor Company, adding a luxury car brand to his portfolio and expanding his market reach.
Introduction of the Model A
1927
The Model A was introduced as a successor to the Model T, featuring updated design and technology to meet changing consumer demands.