Lido A.Lee Iacocca Ford Mustang was born on October 25, 1924.(Lido would change his name to Lee after going to work for Ford. Lee�s parents worked hard to provide for their family. Nicola believed in America. Lee was never afraid of work. Lee attributes his work ethic to the example set by his father.The depression hit his family just as hard as the rest of the country. Lee feels the depression had a direct impact on his life. In grade school Lee came face to face with ethnic intolerance. Lee married Mary McCleary in 1956. Rather than introduce himself as Lee Iacocca Ford Mustang, he stated that his first name was Iacocca, and his family name was Lee. The program was a huge success. His district went from last place in sales to first place. Due to this program it was estimated that an extra 75,000,000 cars were sold.
The program was a huge success. His district went from last place in sales to first place. Due to this program it was estimated that an extra 75,000,000 cars were sold.
Another project that Lee Iacocca Ford Mustang undertook was the Fairlane Committee. This committee used research data to decide what type of new car to produce. This project allows us a glimpse of Lee�s business management style. He used good marketing research data, he surrounded himself with good people, and he was willing to listen to them. Lee became known as the Father of the Mustang.
After the huge success of the Mustang, Lee was made President of Ford on December 10,1970. This program gave managers 3 years to make their departments profitable or sell them off .
The car was to be developed for fuel economy and price to compete with foreign cars that were already on the market. By the end of 1975 Lee began having trouble at Ford. Most of this seemed to be a personality conflict between Henry Ford II and Lee. It didn�t take long for Lee to figure out that Chrysler was in a state of emergency. Each department seemed to be working in a vacuum. Lee was not able to pull everything together and make it work. By 1983 Lee had Chrysler back on their feet, and on July 13, 1983 Chrysler paid back all their government loans.
Lee Iacocca Ford Mustang made a public statement, "We at Chrysler borrow money the old fashioned way. It didn�t take long for Lee to figure out that Chrysler was in a state of emergency. Lee was not able to pull everything together and make it work. By 1983 Lee had Chrysler back on their feet, and on July 13, 1983 Chrysler paid back all their government loans. Lee made a public statement, "We at Chrysler borrow money the old fashioned way. Lee feels the keys to successful management are the ability to concentrate and use time wisely. Managers need to be decision makers as well as motivators. Businesses don�t have the luxury of slow decision making today.