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How Did Henry Ford Become Successful

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Henry Ford was an entrepreneur who founded the Ford Motor Company in June of 1903 and grew it into a very successful business. He achieved this through free enterprise, an economic system which places few restrictions on business activities and ownership. This system allowed Ford to begin his company without restrictions from the government either preventing him from establishing it or from limiting his success. It not only helped Ford to achieve his goals in business, but it has also helped many other entrepreneurs as well. The free enterprise system has been a necessary component in allowing people, such as Henry Ford, to start, grow, and own their own businesses. Although Henry Ford began the Ford Motor Company in 1903, it was not until 1908 that his business began to grow and become successful. In 1908 Ford first released the Model T automobile at a price of $825.00. He was able to offer the vehicle at such a low price because in the process of producing the Model T he also developed and perfected the moving assembly line. This reduced the assembly time by over fifty percent, which in turn reduced the price of the automobile. The Ford Motor Company has continued to grow and after over a century of being in business it is now worth around $199 billion. The extreme success of this business was only made possible as a result of …show more content…

It was a result of the free enterprise system that Henry Ford was able to establish his business and develop it into a successful enterprise. His success as an entrepreneur not only benefited him, but it also benefited other entrepreneurs. His leadership in this field led to the development of new concepts and ideas which were beneficial to future entrepreneurs and helped them to develop their own business ideas in order to become successful as well. Therefore, it is through the success of one entrepreneur that many others were also able to

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