Economics of Organisations TAKE HOME EXAM (Third Writer) Essay

Economics of Organisations imply HOME EXAM (Third Writer) - Essay ExampleThe profits rolled in, and Fords workers shared in the wealth an humorous beginning for an auto company that would go on to be a notorious enemy of intentness in the 1930s and 1940s.At that time, $5 per day was an extremely high wage to pay manual of arms workers in factories such as the Ford facilities. It was hard enough to even have a personal credit line in the first place at the time Ford made this major move, so it was thus a shock. The economy was re aloney in a shaky situation, as it is today. Having a job at all at that time was considered to be very good luck. People who did have jobs worked very hard-much harder than umteen manual laborers do today. They did not expect handouts from the government, as many of the unemployed in todays world escort themselves doing, whether they are in a situation where they can help it or not. Workers back then were tough, and they certainly werent freeloaders.Ba ck in ancient Rome, welfare ruined the city and actually led to its failure. The government give out money to a few greedy companies, those companies went under, and the rest of the city went under with them. This is definitely not a scenario one wants to see happen again. It is also possible that, at that time, Ford had a monopoly on the automobile industry and his altruistic nature guided him to share his excess profits with his employees.The root of the $5-a-day working day was the success of the moving as... According to the work at History.com (2009 p. 1), After the success of the moving assembly line, atomic number 1 Ford had another transformative idea in January 1914, he startled the world by announcing that Ford push back Company would pay $5 a day to its workers. The pay increase would also be come with by a shorter workday (from nine to eight hours). While this rate didnt automatically apply to both worker, it more than doubled the average autoworkers wage. While at omic number 1s primary objective was to reduce worker attrition-labor turnover from matte assembly line work was high-newspapers from all over the world reported the story as an surpassing gesture of goodwill.The new wage made thousands of manual laborers flock to Fords manufacturing facilities. People came all the way from all over the United States to Fords Detroit plant, and they even came from Europe. Employee turnover, of course, practically vanished.According to History (2009, p. 1), hydrogen Ford had reasoned that since it was without delay possible to build inexpensive cars in volume, more of them could be sold if employees could afford to buy them. The $5 day helped better the lot of all American workers and contributed to the emergence of the American middle class. In the process, Henry Ford had changed manufacturing forever.The following shows an announcement of Fords plans to raise their wages to $5-a-dayFigure 1 AnnouncementSource Ford.comReferencesHenry Fords $5-a- Day Revolution 2009. Ford. Available at http//www.ford.com/about-ford/heritage/milestones/5dollaraday/677-5-dollar-a-dayFord Sets Record Wages 2009. History. Available at