Review of B. C. Forbes' "Automotive Giants of America"
|
|
Published December 12, 2021
|
In 1926, B. C. Forbes published the Automotive Giants of America. This was only five years after the disastrous post-war Recession of 1920–21 which wreaked havoc on the automobile industry. He quotes a few statistics that documented that the industry had regained its footing and was a force in the growth of the United States.
The American automotive industry’s business record in 1925 was as follows:
The American automotive industry’s business record in 1925 was as follows:
|
|
- The most revealing statistic: The industry employed 3,200,000 workers and one out of every eight families earned their living from the automotive industry.
These were giant executives within a giant industry.
A Review of "Automotive Giants of America" by B. C. Forbes
- Reviews of the Day: 1926
- The Individuals Discussed in this Book
- Selected Quotes from B.C. Forbes’ Interviews
- This Author’s Thoughts on Automotive Giants of America
Reviews of the Day: 1926
|
Normally, reviews from the time of publication of a book are included here—August 1926 in the case of this book. Unfortunately, there were no detailed reviews found. The only mentions of the book were statements of what was in the book. No reviews were found that evaluated the quality or accuracy of the material presented by these two authors.
For example: “Automotive Giants of America by B. C. Forbes and O. D. Foster gives insight into the careers of twenty men prominent in the growth of the automobile industry. The authors deal with each [individual] separately, outlining their careers from boyhood to the present day. … |
B. C. Forbes: Men Who Are Making America
|
The Philadelphia Inquirer, August 21, 1926
Here is a list of the individuals covered in this book.
The Backgrounds of the Automotive Industrialists in this Book
[Information and other book reviews concerning the industrialist’s highlighted in yellow above are available at the following links: Harvey S. Firestone, Henry Ford and Alfred P. Sloan, Jr.]
The best way to value the information in this book is to publish the quotes of a few of the individuals from the above list. Here are some of their thoughts.
Selected Quotes from B.C. Forbes’ Interviews
Firestone Tire Company: Harvey S. Firestone’s Business Philosophy
|
The Firestone organization was made up of over 12,000 employees, and every employee was a stockholder in the company. Harvey S. Firestone said the following of the needed skills to run a business:
“Interest, sympathy, a love for earnest work, the human touch, a conscientious wish to close each day with at least some little addition to the structure we are building; the pleasure of knowing that something we have done has speeded the other fellow on his way—these are the things that make life worthwhile. |
Harvey S. Firestone: 1925
|
The Buick Company: Walter P. Chrysler’s Business Philosophy
Mr. Chrysler made the Buick one of the most talked-about cars in the automobile industry [and later—after the publication of this book—the Chrysler]. In the space of eight years, he raised the production of the Buick from forty a day to 600 a day. Here is his executive philosophy:
“The first thing I do when I start to look into the affairs of a failing company is to study the personnel of the organization and the individuality of the men. I am concerned first of all with executives, because if their principles are not right it is useless to look for results from the men. … |
Walter P. Chrysler: 1925
|
The Studebaker Corporation: Albert R. Erskine’s Business Philosophy
|
Management by Wandering Around (MBWA) existed long before Peter F. Drucker coined the phrase in the late 20th Century. He saw many of America’s greatest executives implementing this principle. This is how Albert R. Erskine approached his new executive job:
“I took no office, not even a desk. I spent the first four months out in different departments. I went to the desks of the men in every department and asked them to show me what they were doing, how they were doing it and why they were doing it. |
Albert R. Erskine at his desk: 1925
|
He also discussed the “first duty of an employer” and the relationship of capital and management with labor:
“The first duty of an employer is to labor. … It is the duty of capital and management to compensate liberally, paying at least the current wage and probably a little more, and to give workers decent and healthful surroundings and treat them with the utmost consideration. If management cannot do this, then something is wrong. …
“In 1915 we put into effect a bonus plan, benefiting some four hundred men and women, from foremen up – every person having authority to manage employees or property, the tellers. …
“In March, 1917, we inaugurated dividends on wages. … We began giving every worker one week’s vacation after two years’ service. We give them their pay before starting [their vacations] so that they may have something to enjoy themselves with.”
There is so much more in this book. So much more that many of our 21st Century Chief Executive Officers should evaluate. It isn’t the ephemeral “what” these automotive industrialists did that is important but the timeless “why” they did it.
The principles behind their “whys” should be read, reviewed, recognized, and restored to prominence.
The principles behind their “whys” should be read, reviewed, recognized, and restored to prominence.
This Author's Thoughts on "Automotive Giants of America"
As with other B. C. Forbes’ works, the amazing part of this book is the access that he and Mr. Foster had to the leading industrialists of their day. These industrialists shared their personal stories, their work ethic, their beliefs and desires. They trusted the authors to get it right … to find the balance. They even gave them access to their employees to verify their stories of leadership.
Who is the 21st Century’s editorial equivalent to B. C. Forbes? Who has the credibility as a magazine editor to get audiences with the top businessmen and -women of today: Jeff Bezos, Mary Barra, Elon Musk, Abigail Johnson, Mark Zuckerberg, Carol Tomé, Warren Buffett, Meg Whitman, Bill Gates, Larry Ellison … and ten more besides? Doesn’t society need a journalist/editor who can and will study the respected business leaders to validate their leadership stories and then broadcast them for the profit of others? Doesn’t society need a fourth estate—a business press—that prefers face-to-face, executive/employee interviews to social-media driven, employee surveys that are all too superficial—and multiple choice?
Who is the 21st Century’s editorial equivalent to B. C. Forbes? Who has the credibility as a magazine editor to get audiences with the top businessmen and -women of today: Jeff Bezos, Mary Barra, Elon Musk, Abigail Johnson, Mark Zuckerberg, Carol Tomé, Warren Buffett, Meg Whitman, Bill Gates, Larry Ellison … and ten more besides? Doesn’t society need a journalist/editor who can and will study the respected business leaders to validate their leadership stories and then broadcast them for the profit of others? Doesn’t society need a fourth estate—a business press—that prefers face-to-face, executive/employee interviews to social-media driven, employee surveys that are all too superficial—and multiple choice?
|
As with any timeless work about business, the importance of the message in this book is not in the “what” a 20th Century chief executive has doing—“what” is unique with the needs and customs of the time; but understanding the “why” behind what these elder business statesmen did—and their outcomes. Isn’t “why” the timeless learning opportunity?
These are the polished principles—the diamonds—that are buried in all of B. C. Forbes’ industrialist anthologies. His drive to dig into the what to expose the why of these chief executives was a strong characteristic of both B. C. Forbes and A. W. Shaw—two great editors of the early American 20th Century. They both got better with time. This is another B. C. Forbes industrialist anthology I highly recommend. In his works, be sure to study the why—not the what. Cheers, - Pete |