ABSTRACT
It was more than a hundred years ago, Henry Ford, using strong wisdom and a sound business philosophy, created the initial foundation and framework for affordability. Affordability is traditionally defined as “being within one’s financial means.” However, affordability as related to continuous improvement is an aim and, as a point of integration, is focused on increasing value, improving customer focus, and decreasing cost. If a product or service of an organization is of value, meets the needs and wants of the customer, is sold at a cost within the customers’ means, and is profitable for the provider organization, it meets the core definition of affordability, and the three points of focus can be leveraged for continuous improvement efforts over time. When used effectively, affordability becomes the primary target and prime objective for an organization to constantly pursue excellence and chase perfection.
