Alan Mulally: Behind the Wheel of Ford

photo by Renato Araujo/ABr

In the wake of the 2008 economic recession, many American automobile companies lost money. Chrysler and General Motors were bailed out by the United States government and had to close many dealerships, and, in the case of General Motors, discontinue some car brands as part of the deal to avoid or recover from bankruptcy. Ford Motor Company, thanks to a generous line of credit it received in 2007, avoided both the bailouts and the bankruptcy due in no small part to the actions of its CEO, Alan Mulally.

Alan Mulally seemed, at first, to be an odd choice for CEO of an automobile company. His previous business experience was with Boeing, and he was named president of Boeing Commercial Airplanes in 1998, with some CEO duties added in 2001. He replaced William Clay Ford, Jr., who joined Ford in 1979 and had served as its CEO since 2001. Mulally was a then-radical choice, but his management style, unweighted by decades of auto company baggage, has left its mark on the industry as well as on Ford itself.

Mulally worked to make Ford a less insular company. When he was appointed, global operating regions were less interested in working together than in retaining whatever market share they possessed on their home turf; and that transferred to the corporate culture – hardly anyone below the upper levels of Ford management knew just how close the company was to dying when Mulally signed on.

Mulally refocused the company away from luxery car brands like Jaguar and Aston Martin, and to the Ford brand proper. In doing so, he trimmed away part of the fat that was sinking the company. Mulally also refocused the company on a management level, giving the whole operation a singular purpose: to make Ford profitable again.

Recent reports show he has done just that, with Ford posting $33.1 billion in revenue in the first quarter of 2011.

The Bad Boy of Music and Fashion: Sean Combs

Sean Combs is one of the lucky few to live a charmed life. As one of the most popular hip-hop performers of all time, Combs has earned a fortune selling more records than any other artist in the same genre. In addition to his wealth, Combs solidified his status as the “King of Rap” by winning three Grammy Awards and several MTV Music Awards. 

But aside from being one of the most sought-after performers of this generation, Combs is also busy with several business ventures. In fact, for his multiple entrepreneurial endeavors, he was named one of the top ten celebrity entrepreneurs. It all started when he created his own record label, Bad Boy Records. He took what he learned as an intern at Uptown Records to build a successful company, a home to many of the greatest hip-hop and rhythm and blues stars today. As Bad Boy became one of the hottest labels in rap, Combs’s journey as an entrepreneur took off. 

While his business looked promising, Combs’s personal life started to fall apart. Notorious B.I.G., a Bad Boy artist and one of Combs’s best friends, was murdered at the peak of his career. Combs himself was arrested soon after for weapons violations and assault charges. He made a comeback by establishing a clothing line, Sean John, in 1998. Hip-hop fashion brought him a great deal of success, even winning the Council of Fashion Designers of America’s Menswear Designer of the Year award in 2004. 

Combs’s entrepreneurial skills are fueled by innovation. He made revolutionary changes in the music and fashion industry. He entered the food business and now owns a number of restaurants as well. Described by his peers as a shrewd businessman, he is known for striking while the iron is hot and making the most of his success as and when it comes. 

From Puffy to P Diddy, entrepreneur, rapper and actor, Combs has successfully transcended multiple industries and managed to come out on top.

Ben Cohen and Jerry Greenfield’s Sweet Road to Success

What would life be without ice cream? Thanks to Ben Cohen and Jerry Greenfield, this won’t be a reality. As the founders of Ben & Jerry’s, they are responsible for bringing the  young-at-heart funky ice cream flavors like Chunky Monkey and Vermont Vibe.

Cohen and Greenfield were childhood friends who grew up in Brooklyn, New York. With ice cream running in their veins – Cohen drove an ice cream truck in high school, while Greenfield worked as an ice cream scooper in college – the best friends decided to go into the food business together after pursuing individual careers.

The pair first considered making bagels, but decided that the cost of production equipment was just too much. Instead, they settled for ice cream. Armed only with knowledge learned from a $5 course on ice-cream making, they opened their first scoop shop in Burlington, Vermont in 1978 – a college town with no existing competition.

The original Ben & Jerry’s scoop shop became a community favorite, thanks to its rich ice cream flavor and creative mix. They also had effective campaigns and gimmicks, such as hosting a free film festival and giving away free scoops during their anniversary.

The ice cream kings opened their first non-Vermont store in 1983. Maine got a taste of their signature flavors that year, which included New York Super Fudge Chunk and Cherry Garcia. Cohen and Greenfield then expanded their business by making pints to sell to grocers. In 1987, their sales reached $32 million.

However, their sweet road to success also had moments of bitterness. One of the most infamous challenges the duo faced included a lawsuit with another ice cream giant, Häagen-Dazs. The challenges posed by a growing company also left the co-founders no choice but to hire a person with more business acumen.

Despite these challenges, Cohen and Greenfield continue to be prime movers of Ben & Jerry’s, an all-time American favorite.

David Arrick’s Cupcakes for Men

A cupcake business is usually thought of as the domain of female entrepreneurs. David Arrick is an exception. When the forty-two-year-old former commercial real estate lawyer lost his job at a Wall Street firm, he got caught in the same downward spiral many Americans faced during the economic crisis. But just when he thought everything was over, an opportunity came along.

He was stuck in rut for several months and was forced to sell his condo, cash out his 401(k), and collect unemployment benefits as often as he could. At the same time, he tried to come up with a plan that could save him from despair. Inspiration struck when he saw a line of women in front of a bakery. He thought men should be represented in the pastries scene, too.

Arrick craved to create cupcakes that are more “aesthetically masculine,” for male consumers. He didn’t take the idea seriously at first, but decided to pursue it when nothing else seemed to work. With ten thousand dollars, he hired a website developer to create Butch Bakery and bought a commercial space in Queens to make the macho treats.

Arrick asked for the help of his friends and relatives to create manly recipes. Early recipes included beer, peanut butter, Coca-Cola, and the all-time favorite, bacon. Orders were steady for the first few months, but a feature on Daily Candy, a women’s newsletter, made business skyrocket. Their website reached five million hits and other media outlets wanted a piece of their cupcake, too.

Arrick’s cupcakes for guys became so popular that even fishermen in Alaska and soldiers in Iraq wanted a taste as well. But at present, Butch Bakery can only cater to and deliver goods to New York-based customers. With commercial success, it won't take long before Arrick can distribute manly cupcakes to men from different parts of the world.

How Gail Dosik’s Life Took a Sweet Turn

Not many people will try a career change at the age of 50. Gail Dosik, however, felt that it was the perfect time for her to start something new.  In 2005, she took a leap of faith and decided to quit her high-paying job in the fashion industry to enroll in a culinary class.

Six years later, the founder of One Tough Cookie can proudly say that quitting her day job was probably one of the best decisions of her life.

One Tough Cookie is the product of Dosik’s venture into the unknown. This designer cookie company is based in New York, where the proud entrepreneur bakes and decorates whimsical cookies herself. Although she claims that she’s never taken an art class, Dosik’s cookies are a sight to behold – and a flavorful experience as well. Aside from cookies, she also makes cookie-covered birthday cakes, making her a popular figure in the Manhattan kiddie party scene.

Since launching her company, Dosik has enjoyed the taste of a good life. She compares the process of developing her company to planning a party, where she has to prepare the venue, send out invitations and wait to see if anyone arrives. Luckily, the success of the One Tough Cookie gave her a lot to celebrate.

Dosik considers herself a tough cookie for achieving so many things at this point in her life. A few years ago, she would never have believed that she would have her own company, given her age and stability. But then again, everything you know can change; you just have to make it happen – like Dosik did.

In an interview, Gail was asked to pinpoint her life’s biggest accomplishment. Surprisingly, she did not mention her company. According to her, she is proudest when people complement her work and refer to her as an artist.

This statement proves that Dosik is an entrepreneur driven by passion and a zest for craft.