Who spoke the following?

“There is one rule for the industrialist and that is; Make the best quality of goods at the lowest cost possible, paying the highest wages possible.”

Here's today's quiz, for those of you who wish to partake: who is quoted above?

Before I give you the answer, let's examine the “rule”. “Make the best quality of goods” - the speaker obviously knew that producing goods of inferior quality was a sure way to fail. That part of the statement is almost axiomatic (I say almost because there are always a few that will require proof). Providing quality goods has always been and always will be a precursor to success. Consumers will want a quality product even if the price is higher than similar product at a lower price. This applies to a service economy as well.

“... at the lowest cost possible, ...” Well, that's just good business. Profits increase as costs decrease so, to maximize profits, you try to keep your costs low. This can be a bit difficult, because to produce a quality product you need quality materials and quality materials don't usually come cheap. Still, the word “possible” allows for the purchase of the materials necessary to fulfill the “best quality” clause.

“... paying the highest wages possible.” The speaker knew that producing a quality product (or any product, for that matter) was fruitless unless consumers could afford to purchase them. The speaker also knew that retaining quality workers was more cost-effective than continually training new workers due to employee turnover. All that considered, the speaker was, surprisingly, anti-union. The speaker believed that the smart manager should do right by his workers, because by doing so he would be increasing his own profits. The speaker's thoughts were that labor unions would be unnecessary if good management treated labor well.

That final clause would make the speaker anathema in today's business environment, where the standing order seems to be to reduce labor costs by any means possible.

Oh, the speaker. Have you figured out who it was? It was the man who is considered by many to be the father of the modern assembly lines, Henry Ford.

(On edit: I think I'll post this at my local newspaper's Web site, too)

Brilliant with a point that is lost on many corporations/ manufacturers - to sell your product or service, people have to be able to afford your product or service. Decent wages benefit ALL industries. A point that has become lost recently when Corporations turned their focuses to just moving their investments around and manipulating their stock. Big difference. Henry Ford lived to manufacture and sell cars. Nowadys the game is to look like you manufacture something, but what you're really selling is your stock. Executives get rich through stock options that they had a hand in rigging. No one cares aboout the actual product or the employees.

The most amount of quality parts at the cheapest price possible. My crede as a manufacturing mmanager.

He pushed the International Jewish Conspiracy business, especially at the end of his life.

He was also short-sighted enough to not make cars in any color but black for many years. It wasn't until other people began painting their cars in colors that he relented.