Over eight years ago I read Crash Course: The American Automobile Industry’s Road from Glory to Disaster by Paul Ingrassia. The book is a fascinating account of the rise and fall of the “Big Three” automakers: General Motors, Ford, and Chrysler. Only Ford avoided the ultimate fall of bankruptcy.
I wrote a blog post on the book, much of which is repeated here. It is an amazing reminder of both the pressures and temptations of leadership
My initial desire was to learn from the lessons of the automobile industry, both the good and the bad. Though most of the book does focus on the enormous missteps of many in the automobile industry, it is fair to give credit where credit is due. For example, in 2006, Bill Ford, holding the multiple titles of Chairman, President, and CEO of Ford, understood that his leadership was not getting the job done. So he, in essence, fired himself as President and CEO and brought new leadership to Ford. That move likely was the decisive moment that led the company to avoid bankruptcy. “I have a lot of myself invested in this company,” Ford explained, “but not my ego.”
Unfortunately, Bill Ford’s actions were the exception and not the rule. Those in management of the Big Three and those in leadership of the union at times demonstrated such lack of leadership that we, in hindsight, wonder how leaders can head down such destructive paths.
The Essence of It All
James B. Stewart’s words on the front jacket of the book, tell the essence of the story well:…
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Click here to read the rest of the story from our content source/partners – Thom Rainer.