Lee Iacocca

Paper Summary:

This paper takes a look at the Chrysler Corporation and the imperative role that Lee Iacocca played in saving the company from total ruin. According to the paper, Iacocca took a then virtually bankrupt Chrysler, and turned it into the multibillion dollar corporation it is today.

Outline:
Abstract
The Foundations of Chrysler's Turnaround
Chrysler in the Modern World
Conclusion

From the Paper:

"Lastly, Iacocca greatly improved upon Chrysler's reputation for poor manufacturing quality which in essence affected auto sales and warranty costs. Two men were hired by Iacocca to improve manufacturing quality--Richard A. Vining, a graduate of the Chrysler Institute of Engineering, and Richard E. Dauch, the manufacturing executive at GM and Volkswagen of America. These two men, along with Iacocca's inventiveness, "reinstituted tighter quality control standards for parts and components and assured that all new Chrysler products would be of much higher quality than all previous models" (Wyden, 1987, 236). Also, Iacocca made some drastic changes in Chrysler's advertising program by replacing its two former ad agencies with Kenyon and Eckhardt, based in New York, which "changed the focus of Chrysler's advertising and made Iacocca the company pitchman which embodied the true basis for Chrysler's comeback from the brink of destruction" (Wyden, 1987, 238)."

Sample of Sources Used:

• "Chrysler Group." (2006). DaimlerChrysler. Internet. Retrieved from http://www.chryslercorporation.com.
• Ingrassia, Paul and Joseph White. (1994). Comeback. New York: Simon & Schuster.
• Levin, Doron P. (1995). Behind the Wheel at Chrysler: The Iacocca Legacy. New York:Harcourt-Brace & Company.
• Wyden, Peter H. (1987). The Unknown Iacocca. New York: William Morrow.

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