Tech startup founders usually draw their lessons from the history of the information technology industry. However, companies have been innovating technologically for much longer, meaning there might be some forgotten lessons in business history worth revisiting.
In this article, we’ll discuss examples of the innovative practices of the Ford Motor Company, founded in 1903 by Henry Ford, that helped it revolutionize the automobile industry.
1. Standardization
Ford Motor Company was also a pioneer in the standardization of automobile parts. By creating standardized parts that could be used in multiple models, Ford was able to reduce costs and increase efficiency in its production process.
Second,