During his day, Lee Iacocca was considered one of the most masterful business leaders of all time, known for his frank but direct conversation. In exploring what he did to this man, it can only be said that adversity had built the character necessary to accomplish all that he did. Do you have the qualities that Lee Iacocca used to turn Chrysler Motor Company around?
If not, that does not mean that you cannot study this great man and his methods to take control of your company, your future or your destiny. I recommend that you study the philosophies and strategies of Lee Iacocca and I would like to recommend two books, two books that I myself have in my own personal business library:
“Iacocca – an autobiography” by Lee Iacocca with William Novak – 1984
“Speak frankly” by Lee Iacocca with Sonny Kleinfield – 1988.
The first book describes Lee Iacocca’s beginnings and what shaped his personality, leading him through his tenure at Ford Motor Company and his role at Chrysler. He talks about how he sold the “ransom” and how he built his team, the K-Car solution. It talks about auto safety, competing with the Japanese, labor costs and unions, and what this great nation needs to be even greater.
The second book, “Talking Straight,” was written four years later and is a continuation of his comments on America, the stock market, trade deficits, a nation in debt, raising children in America, and how what we do will now shape the world to live in – in the 21st century.
It talks about family values, hard work ethic, national unity, strength of character, and where we are doing well and where we should focus. Analyze where American Business should focus, where it is collapsing. He talks about various industries and even family farmers. It states that we have to make “Made in America” mean something once again. In many respects Lee Iacocca is right, I hope you hear his words and think about them.
In the meantime, if you are interested in the auto industry, I would like to suggest another book for you on how factories operate in the US and elsewhere and how to make them more efficient and profitable:
“Reinventing the Factory: Productivity Advances in Today’s Manufacturing” by Roy L. Harmon and Leroy D. Peterson – Arthur Anderson Consulting – 1990.
This book has chapters such as: Management Insights and Profits, Whole Plant Plans, Assembly Process, Machining Process, Material Storage, One Touch Changes and Paperless Factories. The book also addresses important considerations in productivity and how to create manufacturing plants, sub-plants and clusters, with suppliers, spin-offs and in-house systems. Finally, the book explains the methods and strategies necessary to design the Factories of the Future.