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Leadership Theories: Mr. Iacocca

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Leadership Theories: Mr. Iacocca INTRODUCTION Lido (Lee) Anthony Iacocca, born to Italian immigrants, was born on October 15, 1924, in Allentown, Pennsylvania. Since childhood he received many words of wisdom from his father, which included writing down the amounts of loans and never to get involved in a capital-intensive business. In 1946, he began working at Ford as an engineering trainee and later became Ford’s president. CAREER – THE JOURNEY FROM FORD TO CHRYSLER Iacocca joined Chrysler in 1979 after getting fired from Ford. He joined as president and went on to become CEO and chairman. Before joining Chrysler Corporation had announced its worst deficit in the company’s history – a $160-million loss in the third quarter. He learnt that …show more content…

Two years later, the T115 minivan was brought back to production. Chrysler was leading the crowd. On July 13, 1983, Iacocca announced the payback of the loans at the National Press Club. A huge check was presented to bankers in New York, written for $813,487,500. LEGACY Lee Iacocca retired from Chrysler in 1992, at the age of 68, after the company’s dramatic turnaround. He was inducted into the Walter P. Chrysler Legacy Circle in 2010. He also won the American Patriot Award. He has composed several notable books on leadership qualities which have qualified as bestsellers. A GREAT LEADER Thus, this is how Mr. Lee Iacocca never accepted defeat even after beingfired from Ford. He took over the reins of Chrysler, which was considered a sinking ship in the automobile industry, and with his dedication and perseverance, revolutionised it into a market leader which served as a role model for other automobile companies. Throughout his career he motivated all his employees to give their best. He appreciated the good work of his fellow colleagues and also gave constructive

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