Ford Motor Company Essay Sample
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Ford Motor Company Essay Sample
Ford Motor Company one of the world’s largest automobile manufactures was founded in June of 1903. The founder Henry Ford was 39 years of age when he founded the company, first calling it Henry Ford Company. The Company started off with $28,000 Dollars derived from 12 investors in a converted factory in Detroit, MI. Ford Motor Company is most known for it‘s innovations in the automobile industry one being the first assembly line introduced in 1913. Others like the first engine with a removable cylinder head in its Model T Vehicle and the first car to have safety glass in the windshield in the Model A vehicle are amongst some of the innovations ford is behind. . In January of 1914 Ford offers $5 per day for eight-hour work days and 15,000 job seekers clamor for 3,000 jobs at the Model T Plant in Highland Park, MI. The previous pay rate was $2.34 per day for nine hours. . In January of 1956 Ford common stock goes on sale, with 10.2 million shares sold in the first day, representing 22 percent of the company. In the 1980s, Ford introduced several highly successful vehicles around the world.
During the 1980s, Ford began using the advertising slogan, “Have you driven a Ford, lately?” to introduce new customers to their brand and make their vehicles appear more modern. As one of the largest family-controlled companies in the world, the Ford Motor Company has been in continuous family control for over 100 years The Ford brand provides vehicles on six different continents and also offers financial services. They have well over 100,000 employees with over 2,000 dealerships in the U.S today. Ford operates on a for profit basis manufacturing vehicles all over the world. In 2013 the company grossed nearly $140 billion in revenue, and was also the only company that didn’t file for chapter 8 bankruptcy in 2008 during the U.S economic recession. They offer a competitive line up of Car, Trucks, Suv’s, Crossovers, hybrids, and commercial utility vans. It also sells cars and trucks to dealers for sale to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments.
In addition, this sector provides retail customers with a range of after-the-sale vehicle services and products in areas, such as maintenance and light repair, heavy repair, collision, vehicle accessories, and extended service warranties. Ford as of now is in a very good space as pertains to their economic environment. Due to several recalls on some of its top vehicles like the F-150 they haven’t been able to exceed expectations by financial analysis. Ford Motor Company operates as a corporate entity. Although the ford family controls a significant amount of shares there are still stockholders and investors that hold stake in the company as well. Ford is also broadening its customer base by licensing its blue oval to lifestyle-oriented partners. Meanwhile, products like the Ford Mustang 50th anniversary designer T-shirts and other merchandise have helped strengthen Ford’s presence and energize the brand.
Ford has a proven ability to simultaneously deliver high-quality vehicles that address diverse consumer demands, including a growing demand for more fuel-efficient vehicles. Ford Motor Company is also celebrating the 10 year anniversary of its groundbreaking Dearborn Truck Plant. As the centerpiece of Ford Rouge Center, Dearborn Truck Plant was conceived as Ford’s vision of sustainable manufacturing and has served as flagship for the company’ next generation of lean and flexible plants. The Plant upholds Ford’s blueprint for sustainability through its living roof and recycling programs; the facility has recycled more than 20 million pounds of cardboard, paper, plastic, and wood since its opening in 2004.
Ford Motor Co. (n.d.). Retrieved October 21, 2014, from http://bi.galegroup.com.bakerezproxy.palnet.info/global/companyBest Global brand 2014. (n.d.). Retrieved from http://corporate.ford.com/our-company/sustainabilityA timeline of ford motor company. (2006, January 23). Retrieved from http://www.npr.org/templates/story/story.php?storyId=5168769