Brief History Ford Motor Company is one of the greatest and most successful automobile manufactures (Bryant University, 2004). It was founded in 1903 in Detroit, Michigan by Henry Ford, an innovative individual credited with the introduction of mass production through his assembly line. The Model A was the first car off its production line, and sold for $850. Its considerably low prices and stellar performance of its vehicles ensured that Ford made a steady progress into the global arena, expanding into European nations such as Germany, France and the United Kingdom. The company’s mission and vision revolves around the context of “One Ford”; that is, one team, one plan, one goal-whereby the overall vision is to deliver profitable growth for all (Ford, 2014).
Henry Ford founded the Ford Motor Company (FOMC) in Michigan on June 16, 1903 after “previous attempts to manufacture cars had failed.” Early in its history the company saw much success with the expansion of Lincoln, the company’s luxury vehicle, along with investments in Mazda and purchasing the “Aston Martin, Jaguar, and Volvo and Land Rover brands.” However, the company has since seen drastic reductions in its stake in Mazda, along with selling all four brands to other automakers. More recently, through Henry Ford’s vision, FMC has become one of the largest automotive manufacturers in the world given that it manufactures and distributes automobiles across North America, Europe, Asia and South America and ranks 10th in Fortunes top 500 companies in the 2013 edition. Ford’s current headquarters is in Dearborn, Michigan. II. SWOT Analysis According to Kerin, Hartly and Rudelius, authors of the textbook Marketing 11th edition, SWOT is an acronym that describes an organization’s appraisal of its “internal strengths and weakness along with its external opportunities and threats.” The SWOT analysis includes examining the company’s strengths and weakness in the areas of management, offering, marketing program, finance, personnel, manufacturing and research and development.
The automobile has been an icon in America for over a century. Following the creation of the auto industry, was the creation of multiple car brands owned by one corporation. This lead to the form of automotive giants, ultimately leading to what we know today has the Big Three. In 1910 there was about 500,000 automobiles on the road. When Ford started producing Mo... ... middle of paper ... ...where but up.
Background of Companies Ford Motor Company is the largest automotive manufactures in the world. Ford became an official business on June 16, 1903 it was founded by Henry Ford. It is located in Dearborn, Michigan; it also operates throughout the United States and Europe. The company’s website is http://www.ford.com. Ford employs over 175,000 people.
Though Ford has grown by leaps and bounds, it primarily still remains a family owned company with 40 percent of the voting rights still resting with the Ford family. Ford revolutionized the industry by making the gasoline powered automobile affordable for the middle class in 1913. The economies of scale approach were taken up by the company. The first moving assembly line was introduced in 1913 at its factory at Highland Park. The major breakthrough being the “Ford-T Model”, which sold in millions.
The Ford Motor Company, founded in 1903 by Henry Ford, was the largest car manufacturer in the world until 1929 when GM passed it. Ford is currently the second largest producer of automobiles in the world p... ... middle of paper ... ...f France to produce compact cars. Then in 1987 Chrysler purchased the Italian company, Nuova Automobili F. Lamborghini, maker of expensive sports cars. Chrysler also purchased the American Motors Corporation, the maker of Jeep products. These purchases increased Chrysler's share of the market from 11% to 16.3% and continuing to rise.
Morningstar.com (2014, April 28). doi: http://financials.morningstar.com/competitors/industry-peer.action?t=F NASDAQ.com Schoenberger, R. (2011, January 31). Turning around an American icon, how Ford went from losing more than $30 billion to posting big profits. cleveland.com. Retrieved April 22, 2014, from http://www.cleveland.com/business/index.ssf/2011/01/turning_around_an_american_ico.html Smith, D. C. (2000).
The Automobile The automobile is one of the few inventions that has had a great impact on the world. The first automobile was invented by Karl Benz, from Germany, in 1885. However, the first Canadian automobile was built in 1867 by Henry Seth Taylor, and was regarded as a novelty. The automotive industry began in 1904 with Henry Ford’s establishment of the Ford Motor Company in Canada, Ltd. Canada later became the world’s second largest vehicle producer and a major exporter of automobiles and auto parts, between 1918 and 1923. Henry Ford’s manufacturing method of mass production and invention of the assembly line resulted in the prosperity and growth of the automobile in the 1920s.
Today, Ford Motor is one of the world’s biggest automobile companies and was incorporated in early 1903. They began manufacturing assembly lines to mass produce automobile in the 20th century, which put them directly in a competitive industry. They have many brands today that have become the face of their corporations and they are the Ford Mustang, Lincoln, F-Series pickup trucks, Focus, Taurus and Fiesta. Compared to other competitors their finance credit department is one of the leading automobile financing units in the United States. Their operation spans worldwide with around 65 auto plants that executes their innovations in the industry.
Ford’s Automotive Sector includes North America, South America, Europe, Middle East & Africa, and Asia Pacific business unit . Ford is the second biggest automaker in the US in term of market share in 2015 after GM. It sold 2.6 millions car in 2015 or 14.66% of US car market. It employed 187,000 employees in 2014, which 90,000 of its employees are in North America (US, Mexico, and Canada). Ford operates more 62 plants in the world and has 11,980 dealership across the globe, which consist of 10,938 Ford dealership, 869 Ford-Lincoln dealerships and 173 Lincoln dealerships .