The famous manager Iacocca Lee became an idol for many Americans of the 70-80s of the XX century. What did he do, how did he succeed, for what merits did he receive recognition?
Lido Anthony Iacocca - world-class manager
How can a simple engineer become president of one of the largest automobile corporations in the USA? This reliably knows Lee Iacocca. His biography is the evidence of a successful person who, through hard work, has achieved world recognition.
Not every student succeeds in becoming a good engineer. Even fewer successful managers are honored to gain such high confidence as to become Ford president at age 36. At Chrysler, Iacocca Lee also scored high achievements. Thanks to his successful management, the auto giant managed to avoid collapse and remained one of the leaders in the US auto industry.
And only the modesty of an outstanding manager became an obstacle in his successful political career. It is no secret that many Americans saw in this person a possible president of the country after the reign of Ronald Reagan.
Lee Iacocca: biography, photo
When a son was born in the family of immigrants from Italy, Nicola and Antoinette, no one thought that he would become famous throughout the world. Lido was born on October 15, 1924, and grew up in a caring family. At the age of 13, he suffered a rheumatism disease, did not join the army, did not get to the front. He studied very well at school. Having successfully graduated from Princeton University, he got an internship at Ford.
Feeling that he is not fully realizing his potential, Lido Iacocca goes to the marketing department and successfully implements several innovative ideas. This helped the company make a profit and gain a foothold in the leading places in the US auto industry. Henry Ford II himself noticed him and offered a serious post. At 36, Lee Iacocca became director of the company. From 1978 to 1995, there was a period when he raised to his feet the threatened bankruptcy Chrysler.
In addition, he successfully managed the charitable foundation established for the restoration of the Statue of Liberty. Lee is the author of several autobiographical books on the theory and practice of managerial activity. Married to Mary, McLeary has two daughters.
How it all began
Little Lido grew in relative abundance. The family lived well. The head of the family, having moved to America at the age of 12, managed to get comfortable and gain a foothold there. But the economic crisis in 1930 made the family live by tightening their belts. Therefore, Iacocca Lee began to work from the age of ten, when, after school, after a lesson he brought food to shoppers at a supermarket for a modest fee.
From the age of 16 he already worked in a fruit shop, sometimes working 16 hours a day. His father instilled a love for cars. In his rental company, the future director often remained to repair the old Fords. Before graduating from university, he was sure that he would work in this company.
First posts
According to the results of his studies at the University of Iacocca, Lee received the best score, and therefore in 1946 he was invited to the post of trainee engineer in the state of the famous auto giant at the production of Henry Ford. The persistent and stubborn Lido was let go of trying his hand at car sales. Hard work, self-analysis and sales practices in difficult conditions allowed him in 1953 to become an assistant to the county automobile sales office.
And three years later, amid the economic downturn and declining sales, Li Iacocca proposed a bold loan idea for those wishing to purchase a Ford car with a down payment of 20% of the total cost. The balance of the amount was paid in equal installments over three years. Sales soared. The lending program has become part of a strategy in the politics of not only the company, but the whole country.
Thorny path
The streak of luck for a successful manager ended in 1978. The ill-conceived design of the chassis of one of the compact compact cars was the reason for the withdrawal from use for safety reasons, a large number of cars sold. For Pinto models and its modifications, the gas tank was located at the rear so that in a collision it could detonate gasoline.
An engineering graduate, Iacocca Lee, who participated in the creation of the legendary Ford Mustang, should have anticipated this. The owner of the company, Henry Ford II, considered this reason enough to fire the manager. The corporation suffered losses, but it was also fired because of a conflict of interest. Lee Iacocca began to overshadow the greatness of the grandson of Henry Ford, and therefore had to leave.
Jobs at Chrysler
But another car corporation became interested in his services. At that time, the auto giant Chrysler was on the verge of bankruptcy. Lido Iacocca convinced the government to support the company. At the highest level, he secured a loan for 10 years, which, thanks to cost optimization, he returned in 3 years.
During this period, he is credited with another successful invention. The idea of creating a minivan, which was not realized during the collaboration with Ford, was used on Chrysler. He needed a new car concept, and it was created by Iacocca Lee. The American manager and engineer by training suggested simply lengthening the existing and time-tested successful platform of the chassis and on its basis to make a new salon.
The result was a spacious and inexpensive to produce car, which was liked by housewives. He was appreciated for the spacious interior, ease of management and operation. In the first year alone, after the new items were launched, more than 500,000 minivans were sold. Concern "Chrysler" significantly improved its financial condition and even began to crowd out competitors.
Successful Manager Algorithm
Over the years of active work in the field of car sales and personnel management, Lido Iacocca has developed for himself a set of principles and rules that guided him when making serious and responsible decisions. According to him, it is especially important to show decisiveness in actions and not be afraid to assume responsibility for possible consequences in material and social terms. The ability to properly motivate the team to move in the intended direction will not be superfluous. It is important to set real goals, milestones and try to achieve results. Oratory allows you to convey a clear thought to the right person. At the same time, responsible and sensitive people should be in responsible linear positions.
The selection of proactive and tireless personnel who are ready to do even more than is set in the task is another of the fundamental tasks of a successful leader. But we must not forget about humanity in communication with subordinates. Scolding and arrogance is unacceptable in a team. The best education, initiative, an innovative approach to solving new problems, managerial abilities of the leader - all this, of course, is important. But the respect of employees, a felt sense of camaraderie among colleagues and even friendship are no less essential for success.
Personal life
What is known about the family of such a successful manager as Lee Iacocca? Personal life, as he himself claims, has developed happily for him. He met his future wife in 1949. Mary McLeary at the time worked as a secretary at the Ford plant. Their meeting took place at one of the events on the occasion of the presentation of new car models.
Constant travels on company affairs made communication and courtship difficult. Despite this, the engagement nevertheless took place a few years later. The wedding took place only in 1956 in the Catholic Church. But hard work even prevented the implementation of plans for the honeymoon. A day after the wedding, Lido was forced to leave on business.
What did Lee Iacocca feel at the same time? His wife loved him, supported him in every possible way, surrounded him with care and attention, tried to live by the same interests with him. Lido was worried, of course, but he thought that the spouse understood everything. He claims that success was achieved largely thanks to Mary. Despite being busy, the head of the family tried to dedicate the family on Friday evenings and weekends. Daughters, Katie and Leah, received enough attention and affection from their father. Despite the high level of well-being, Lee taught them to live carefully and rationally.
Family life was marred only by Mary's disease. She had diabetes, and even the powerful Lee Iacocca could not help her cope with the disease. A wise, strong woman passed away in 1983. Lido was shocked by her death, but he managed to survive a difficult period, plunging headlong into social activity.
Time to write memoirs
Well-known figures in the field of sales and personnel management consider it necessary to have at hand the well-known publication Career Manager, authored by Li Iacocca. A success story in managerial positions at Ford and Chrysler is described in several autobiographical monographs. Particularly interesting, sharp and reasoned, he talks about relations with Henry Ford II, about the difficult nature of the owner of the auto giant, about compromise and radical decisions as president of the company.
Having completed his leadership positions, Lee Iacocca, in addition to his memoirs, gave lectures at universities. He continues to participate in the activities of public funds. Being old, Lee Iacocca continues to monitor changes in the financial and stock markets. He is actively investing in promising e-commerce industries.
Lee Iacocca: interesting facts
For Americans, the word "Lido" was used on slang in the meaning of a brothel. In order to avoid double ambiguity, the manager reduced his name to Lee and began to use it when he realized that he could achieve success in sales. Being a wealthy person, he leads a measured lifestyle. He could be seen riding a bicycle. He keeps obsolete ties, hoping that the fashion for them will return.
Being an American of Italian descent, Lido Iacocca was friends at school with two Jewish peers. Oddly enough, this trio was better than the others in the class in terms of academic performance. For this and because of racial intolerance, not only students, but also some teachers did not like them.
Already in his school years, he felt a taste of success, as he was elected headman. He admitted in his memoirs that for some time then he felt superior to others. And it affected the relationship. He lost support, lost the confidence of his comrades, and failed in the next election. But this was a good lesson for the future senior manager.
