Lee Iacocca was the chief executive of Ford Motor Company for eight years before being dismissed due to a power struggle and personality clash with Henry Ford II, the chairman. After being fired from Ford, Iacocca went through a difficult period where he felt humiliated. However, he later consolidated and drew on his close family relationships for support. Iacocca then took over as chief executive of Chrysler Corporation and helped avoid its bankruptcy by introducing popular new cars like the Mustang, turning the company around.

1. Lee Iacocca
Chief executive ford motor company – 8 years
Jew – son of an Italian immigrant
Serious in studies
Tough talking – Oral
Appreciation – Written
Luxurious of style
Differences with Henry Ford – II Chairman of ford motor company – power struggle
Personality clash
Dismissal from the position of Chief executive
Humiliations
Office setup in a warehouse
Secretary crying in office
Attitude of the subordinates in Ford motor Company and friends
Kicked off from the Everest
b. There are times when things seem so bad that you have got to grab your fate by
shoulders and shale it.
Consolidation
Close family life – have trust in yourself not to despair
One has to be productive even when life is falling apart
Chief Executive of Chrysler corporation
Avoided bankruptcy of the corporation
Introduced most popular cars
Mustang – Slogan: if you can find a better car – Buy it sales: 418,812
Lessons
Something constructive is born out of adversity
“Adversity is a university”
Anger waste great energy
“anger turned against oneself has disastrous results”
The same energy could be used to do something productive
Wife’s advice
Don’t get mad, get even
“with determination, with luck, and with the help of friends I was able to raise
from ashes”
“Life has its ups and downs. The sun goes down but always come out”
Father’s advice
Enjoy life with hard work
There are no free lunches