What does it mean to be iconic?

I was thinking about this exact question as I approached Michigan Central Station for TIME Magazine’s celebration of its most iconic American companies. Earlier this year, TIME officially awarded Ford Motor Company the No. 1 spot on that list, a credit to its enduring values, commercial success, and role in shaping American culture and society over its 123-year history. But to be iconic is to carry the pride of the past while taking all that history and putting it to work for tomorrow.

As a Ford employee, I get to be part of that pursuit.

Cars have a way of inspiring passion and excitement in a way few other things do, and they had a hold of me at an early age. Today, I’m working to deliver the most iconic version of the most iconic vehicle that America’s most iconic company has ever produced: the Ford Mustang GTD.

So, walking into a room full of CEOs, industry leaders, entrepreneurs, and innovators, I couldn’t help but reflect on my journey from being a car-obsessed kid on a Wisconsin dairy farm to where I am today.

On this particular evening, TIME Magazine’s Jessica Sibley hosted Ford Executive Chair Bill Ford, along with Google Chief Investment Officer Ruth Porat and United Airlines Chief Executive Officer Scott Kirby, to discuss what it takes to build an iconic company and how to make it last.

As the three discussed their respective companies’ vision, struggles, and ambitions, four key elements to building an iconic company stood out to me.

1. Values

For 123 years, Ford has been driven by a simple-but-powerful set of values. As the fourth member of his family to lead the company, Bill Ford emphasized, “it’s about taking care of each other, our communities, and our country.”

While time marches on and culture evolves with it, those core values are what have sustained the company across generations and into the future. But for Ford himself, it’s personal. “Our family name is on every vehicle we sell, and I don't take that lightly,” he said. "So if there's ever something that could harm that reputation, I have to address it.”

2. People

Every panelist agreed that reaching iconic status comes down to a team that’s genuinely proud of the work they do. “If you can get people excited and believing in the future and believing in the vision of where you’re going, you can really do anything,” said Scott Kirby, CEO of United Airlines.

Ford punctuated that sentiment. “We have fourth-, fifth-, even sixth-generation employees working at our company, and they love our company,” he said. “We didn't go bankrupt during the financial crisis when our two biggest competitors did. But it wasn't because of anything we did; it was because our employees simply wouldn't let us fail.”

“Any company is always as good as its people.”

Bill Ford, Ford executive chair

He continued: “Any company is always as good as its people. If you get the best and brightest, you have a chance to win.” This mindset has driven Ford’s investments in innovation, attracting excellence to Detroit, and giving employees the right environments to tackle the industry’s biggest challenges.

3. Customer Experience

Iconic companies don’t stand the test of time without earning people’s trust again and again. “One of the reasons we were one of the TIME 100 companies … is the fact that people love our company,” Ford said. “They love our products. They like the way we behave in the communities.”

But Ford also has his eye on the future. “What gets me most excited is the fact that we will still be the most American car company 125 years from now and that we'll be making our customers' lives better and hopefully giving them back their most precious asset, which is time”

Kirby also stressed the importance of continuously upping the ante for customers. “Your job is ‘wow’…and we need to ‘wow’ [our customers] consistently,” he said.

4. Impact

Ford’s impact is undeniable. It revolutionized manufacturing, brought individual transportation to the masses, built the Arsenal of Democracy, mobilized amid a global pandemic, and has supported families and businesses across America for generations.

“Any company should only exist if it’s making people’s lives better,” Ford said during the panel. Porat also emphasized a company’s obligation to better its community, saying iconic companies have a responsibility to “deliver the upside … and protect [the community] from the downsides.”

Leaving the event, it struck me how the recently renovated Michigan Central Station truly was the perfect answer to my original question. For decades, its imposing structure has been one of the most recognizable sites in Detroit. But it was never just a place to catch a train. It has always stood as a true symbol of the city’s resilience. It’s this transcendence that makes an icon. As a Ford employee, I feel privileged to be here at such an exciting time in the company’s history, and I can’t wait to see how this iconic company will continue to grow.

Peter Schultz is a Mustang GTD Program Management Supervisor at Ford.