ECONOMICS
ENTREPRENEURS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Ford Motor Company
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The John Deere Company
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The Chrysler Corporation
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General Motors
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Detailed explanation-1: -The Ford Model T Came In Only Black For Several Years-Here’s Why! “You can have it (Ford Model T) in any colour as long as it’s black”-This is a famous quote by Henry Ford. This led to many believing that the Ford Model T was available only in black.
Detailed explanation-2: -One of Henry Ford’s famous quotes about the Model T was, “Any customer can have a car painted any colour that he wants, so long as it is black.” The Model T only came in black because the production line required compromise so that efficiency and improved quality could be achieved.
Detailed explanation-3: -Production era The situation continued as a result of the First and Second World Wars where disruption to the supply chain and rationing of basic items became a way of life. As Henry Ford once said: “Any customer can have a car painted any color he wants, so long as it’s black.”
Detailed explanation-4: -"There is no failure except failure to serve one’s purpose."
Detailed explanation-5: -If people tell you they want faster horses, they are telling you something useful. Namely, that they have a desire to go faster. It is the desired outcome (’going faster’) that you should focus on, not the perceived solution (’horses’).