... is often referred to as the "flexible system of production" or the "Japanese management system." On the production side, the flexible system of production is characterised by remarkable reductions in information costs and expenses, total Quality Management, just-in-time inventory control, and leaderless work groups. On the consumption side: by the globalisation of consumer goods markets; faster product life cycles; far greater product/market segmentation and differentiation. Henry Ford, (born 1863- died 1947) founded the Ford Motor Company in 1903. In 1908 the company initiated the production of the Model-T, of which the company sold 15million. It was the first car of its kind to built using a new type of production. Fordism involves the mass production of consumer durables, which are made on moving assembly line techniques operated with the semi-skilled labour of the mass worker. Before cars were produced by hand which was both time consuming and very expensive. The ...

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