I was prattling on about Silicon Valley’s culture of “embracing failure” and failing fast, etc., wondering what lessons Detroit might learn from this revolutionary new way of developing products when he stopped mid-stride and stared down on me with his cool smile atop a baring that was pure Marine aviator (which he was) addressing a far-lesser being.
“Dan, do you know what happens if carmakers embrace a culture of failure?” He asked. I sputtered that I did not, so he enlightened me: “People die.”
Car companies can, too—but that doesn’t mean they can avoid taking risks. That walk, and that moment, were very much on my mind last week at our Smart Manufacturing Summit, our annual pilgrimage for a select group of CEOs who get a chance to deep dive on the issues of top concern to them right now and see some of the most iconic, most important production facilities in the world.
Our group was the first to tour the Ford Motor Company’s brand-new factory for the F150 Lightning just a couple of days after the first truck had moved through the line and off to a dealer. It is one of the—perhaps the—most important vehicle the company has produced since the Model T and the most high-profile part of the biggest bet in the history of the company. My immediate takeaways from the visit:
In the most recent issue of Chief Executive, our Dale Buss, who has covered Detroit for decades, digs into Ford’s big bet, talks with Farley to unpack the strategy behind what he’s doing and reminds us that sometimes—no matter the stakes, no matter the risks—failure just isn’t an option. Read the full article>
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