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
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In 2010 Ford launched 24 new or redesigned vehicles in key markets around the world. These included a redesigned Ford Explorer, Ford Edge and Lincoln MKx and new Ford Fiesta in North America, a redesigned Ford C-MAx and new Ford Grand C-MAx in Europe, and the new Ford Figo in India.
c. Marketing
Furthermore, the company is also present and well renowned in motorsports like Formula One, Rally, Sports cars, and Touring cars. The company's products are better than ever, promoted and marketed by a revamped strategy headed by Mr. Farley. U.S. yearly sales are up 17% through August, which is more than double the industry-wide gain of 8.4%.
d. Personnel
Personnel for Ford is very important quoting, “Here at Ford, our employees are the driving force behind our success.” As part of a new UAW agreement, the company pledged to add 12,000 hourly jobs in the U.S. by 2015. Furthermore, FMC is always trying to increase satisfaction; “we are constantly improving our strategies for fostering open dialogue with employees. We have been enhancing our internal communication efforts to build trust and increase transparency.”
e.
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Until recently, the Ford Motor Company has been one of the most dynastic of American enterprises, a factor which has both benefited the company and has brought it to the brink of disaster. Today Ford is the second largest manufacturer of automobiles and trucks in the world, and it’s operations are well diversified, both operationally and geographically. The company operates the worlds second largest finance company in the world, and is a major producer of tractors, glass and steel. It is most prominent in the US, but also has plants in Canada, Britain and Germany, and facilities in over 100 countries.
Rouse, M. M. (2005). Lowe’s Companies, Inc. In T.L. Wheelen & J. D. Hunger (12th ed.),
Henry Ford was born on July 30 in 1863 in Greenfield Township, Michigan he was one of the first American industrialists and wanted to make a difference in the automobile industry. Back then, before 1908 automobiles were expensive that only rich people could afford. Henry Ford wanted to change this and wanted everyone to have a vehicle to drive. He was able to accomplish this by the assembly line, in which it created more cars in less time. The first car Henry Ford made was the Model T created on the assembly line. Ford’s innovation in manufacturing created less expensive cars and higher wage jobs.
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
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The automotive industry is one of the most important sectors of the economy for every country in the world. It involves a large number of corporations and institutions engaged in the manufacturing process of motor vehicles including designing, developing, manufacturing, marketing, and selling. It contributes to the global economic growth by generating a significant return and creating a ripple effect on supporting the supply chain as well as providing job opportunities for the skilled workers (ACEA, 2016).
So the discussion on internal and external analysis clearly defines that where the competitive advantage of Ford Motors is and where it is lacking. People who have durability as their first priority will go for Ford but they lack in some of their strategies which the management should consider and work on it. We also came to know that Ford is an innovative company from the very first and also serves local demands with the help of related and supporting industry. But in some points they have taken wrong decisions which compel them to sell some of their brands to others. The good news is they are doing hard job to maintain their performance regarding their star and cash cow products to remain in the competition.
Many economic factors exist that impact the development of Ford Motor Company's strategic plan and it’s no small task to project how some of these factors might change as the strategy is being realized. Consider the prospect of expansion into a new market like China or Mexico. Economic changes like currency devaluation will make Ford’s product more expensive to their target market potentially reducing overall sales revenue. Oil prices as we’ve seen in the U.S. economy can also play a big factor as large vehicles become less desirable and more fuel efficient compact cars gain market share.
The Ford Motor Company inspired a manufacturing revolution with its mass production assembly lines in the early 20th century. Ford and Lincoln are one of world's most well known automotive brands, most known for the Ford Mustang, and F-Series pickup trucks. Henry Ford incorporated Ford Motor Company in 1903 at Dearborn, Michigan. Ford Motor Company is known as one of the largest automobile companies in the world. (DATAMONITOR: Ford Motor Company, 2010 p. 4). Since 1980, Ford has been able to remove $5 billion from its operating cost (Brady, 1986, p. 8). The Ford Motor Company has around 181,000 employees and 65 plants worldwide using the automotive brands Ford and Lincoln (FMC Annual Report 2013, p.149).
Ford Motor Company current mission statement is “committed to provide personal mobility for people around the world”. With that in mind their vision is to become the world’s leading Consumer Company for automotive products and services. By improving everything they do, the company provide superior returns to their shareholders (Vision, Mission, Values).
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Ford- focused differentiation, medium pricing, breadth of product line is high. A strength is their pick-up truck market share, a weakness is perceived reliability and styling on some of the lines.
Ford is forecasting that 2010 sales in industry will rise to between 11.5 million and 12.5 million vehicles, up considerably from last year’s 8.4 million. Boudette, and Dolan, 2010). Ford is about to launch its smaller vehicles; less than two years ago Ford Motor’s plant in Mexico was building big pick-up trucks. But Ford has retooled to produce Ford’s small Fiesta car, due to go on sale in America for the first time in June. Simon, 2010).Mulally is the architect of Ford’s remarkable recovery in its fortunes.
Schmidt, J. (2010, September 29). Strategy and targets of mercedes-benz cars sales and marketing. Retrieved from http://www.daimler.com/Projects/c2c/channel/documents/1931898_Daimler_UBS_Paris_DJSchmidt_Handout.pdf
With about 187,000 employees and 62 plants worldwide, the company’s automotive brands include Ford and