Henry Ford's Four Principles of Service

Henry Ford was the founder of Ford Motor Company. Listed below are his Four Principles of Service.

1. An absence of fear of the future and of veneration for the past. One who fears future, who fears failure, limits his activities. Failure is only an opportunity to begin again in a more intelligent manner. There is no disgrace in honest failure; there is disgrace in fearing to fail. The past is useful only if it suggests ways and means for progress.
2. A disregard for competition. Whoever does a thing best ought to be the one to do it. It is criminal to try to get business away from another man - criminal because one is then trying to lower for personal gain the condition of one's fellow man - to rule by force instead of by intelligence.
3. The putting of service before profit. Without a profit, business cannot extend. There is nothing inherently wrong about making a profit. Well-conducted business enterprise cannot fail to return a profit, but profit must and inevitably will come as a reward for good service. It cannot be the basis - it must be the result of service.
4. Manufacturing is not buying low and selling high. It is the process of buying materials fairly and, with the smallest possible addition of cost, transforming those materials into a consumable product and giving it to the consumer. Gambling, speculating, and sharp dealing, tend only to clog this progression.

Thank you for Reading,
Mayur