In 1914 Ford shocked the industrial world when he raised the minimum wage for his workers to $5 an hour per day, or nearly double the average wage. Even the Model T nicknamed “Tin Lizzie” had dropped even further to $360. (Henry Ford Biography, 2015) Ford had also captured 48% of the automobile market by 1914. Ford wanted to lower the price of his cars as much as possible so that workers in his companies could also buy one. Ford wanted to produce cars for the masses, so that everyone could afford a Ford car. By this time Ford had greatly improved the morale of its workers and its customer base had also grown. Its assembly line production produced a high quantity of vehicles at reasonable prices. It soon spread to other manufacturing companies across the country, changing the way things were produced from then on. (Scientific management theory and the Ford Motor Company,
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