Biography- Lee Iacocca and Carlos Ghosn

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Lee Iacocca And Carlos Ghosn Pavithra Muthana Introduction Both Lee Iacocca and Carlos Ghosn are from very well known automotive industries. While Iacocca ails from the 1980’s, Ghosn is from the more recent past of the 2000’s. Iacocca having worked at Ford Motors where he spent a majority of his career has been a pioneer in the auto industry. His experience with Ford later helped in bringing about a breathtaking change in the history of Chrysler. Turning around a company from the brink of ban
  Lee IacoccaAndCarlos Ghosn Pavithra Muthana  Introduction Both Lee Iacocca and Carlos Ghosn are from very well known automotive industries.While Iacocca ails from the 1980’s, Ghosn is from the more recent past of the 2000’s.Iacocca having worked at Ford Motors where he spent a majority of his career has been a pioneer in the auto industry. His experience with Ford later helped in bringing about a breathtaking change in the history of Chrysler. Turning around a company from the brink of bankruptcy to a profit making company, he made history in the 1980’s when theeconomy was still up coming. Ghosn on the other hand, revolutionized the way acompany worked in the more recent times where he brought about a historic revival of not just Nissan, but Michelin’s South American unit and Renault too. Both being fromimmigrant backgrounds, with a drive to succeed, and excellent upbringing, these businessleaders have shown how a leader is made and not merely born. Growing Up Lido Anthony Iacocca was born on October 15, 1924, in Allentown, Pennsylvania, theson of Italian immigrants Nicola and Antoinette. Motivated by the pressure of animmigrant family, Iacocca was driven to be the best. Growing up, Lido learnt manysignificant lessons of leadership and responsibility the hard way, showing him that lifewasn’t going to be fair or easy. He believed that formal learning could teach a person agreat deal, but many of the essential skills in life are developed on your own. Iacoccagrew up learning the nuts and bolts of business from his father who worked as a hot dogrestaurant owner. Iacocca looked up to his father who taught him about theresponsibilities of money and the need for a strong drive and a great vision in order to build a thriving business. He earned an undergraduate degree in engineering from LehighUniversity and later a master’s degree from Princeton University. Even as a teenager,Iacocca decided that he was going to be an automobile company executive and focusedhis studies in that direction. He secured a much sought-after engineering trainee job atFord Motors in 1946 right after his undergraduate degree, but put off his start until hecompleted his master's at Princeton. He took up a course on the fundamentals of behavior that helped him later at work to hire the right people. His key characteristics of leadership  in participating in the school elections, his ability to concentrate and prioritize his coursework, and his drive to be the best brought him all the laurels. His belief in the ability toconcentrate and use your time well is everything if you want to succeed in business or anywhere was one more of the key factors that was prominent during his educationalterm.On the other hand, Carlos Ghosn, also the son of immigrant parents from Lebanon was born in Porto Velho, Brazil, on March 9, 1954. His grandfather – a genuine pioneer witha taste for taking risks was greatly admired by him. Although he never met him, he didinherit his values. His father, Jorge, took over an air travel business and eventually keptshuttling between Lebanon and Brazil. When Carlos was six, he returned to live inLebanon with his mother and attended a very prestigious Jesuit Institute, College Notre – Dame. He was an exceptional student with the best of education. A liking towardslanguages helped him master Portuguese, Arabic and mainly French which gained himentry into the Mecca of science – ‘Ecole Polytechnique’ where he graduated with anengineering degree and then went on to study at ‘Ecole des Mines’, graduating in 1978.They lived on math courses and Ghosn believes that mathematical excellence is the primary criteria for success. His education gave him a great deal including the ability tomove quickly from one issue to another and grasp essential points. A fondness for  precision, an aversion to approximation and the resources to take up intellectualchallenges was all evident as he went up the ladder in the later years. He also learnt thevalue of hard work, the necessity for discipline and organizational skills. His upbringingat various places even from a very early age helped in giving him an exposure. He hadalways felt different and owing to his upbringing and there was always a need to adapt tothe environment and culture that he was in. Thus began his career with Michelin rightafter his graduation from ‘Ecole des Mines’ where even with an excellent background, hehad to learn everything from scratch.  Strategic Inflection Points Joining Ford as an engineering trainee in 1946, Lee Iacocca soon moved from his branchof engineering to the fast paced world of sales. His tenure at Ford taught him numerouskeys to management. The importance of risk taking at the right time, believing in oneself and taking a decision, being a motivator to a company of eleven thousand employees, being a good listener to his subordinate’s opinions and most importantly, being aneffective communicator. In 1964, he launched the Ford Mustang, although he faced manychallenges in convincing the board of its design to suit the American market. TheMustang, thanks to brilliant styling and marketing, brought about a new wave of sportscars and set a first-year sales record for any model giving a name to the generation. He isseen as the Father of the Mustang contributing to its tremendous success. His patiencewas paid off when he was made the president of Ford in 1970. In 1960 Iacocca wasnamed Ford's vice president of the car and truck group, executive vice president in 1967and the president of Ford Motors in 1970. He earned a reputation as one of the greatestsalesman, always selling, whether products, ideas—or himself. In 1978, his life took a bigturn when he was fired from Ford by Chairman Henry Ford II for the mere reason that hemight take over the company, despite Ford posting a $2 billion profit for the year.Although this left a deep scar on Iacocca and his family, Iacocca was not out of the car  business for long. Five months after his dismissal, he joined Chrysler as the President and began transforming the company that was in deep trouble.While Lee Iacocca spent his years at Ford learning the nuances of the business, CarlosGhosn a young man out of one of the best institute started his career as a managementtrainee with the French tire maker Michelin. Soon he was managing a Michelin plant inLe Puy, France. He was promoted rapidly through the Michelin organization, rising to become head of research for the development of industrial tires by the mid-1980s. Hewas then asked to return to his Brazilian homeland and head the company's problem-ridden operations there as chief operating officer. At just over 30 years old, Ghosn wasresponsible for a continent-wide manufacturing operation that needed to be brought outof the pit. As a chief operating officer - CEO at Michelin of North America in 1988, heidentified the reasons of its failure and then began to bring it back. The South American
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