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Essay / The Ford Motor Company: The History of the Ford Engine...
The Ford Motor Company is known today as a well-known American automobile manufacturer in the mass market. It is also on the Fortune 500's list of top 10 companies, and the company itself has reported a remarkable turnaround over the past year that has left other automakers around the world "speechless." . However, the company is currently struggling to implement new strategies and the current situation in the automobile industry is not helping the company's situation at all. Throughout this article, I will try to learn more about Ford and its history by analyzing the company and the industry in which it operates. The end of this article will be devoted to the recommendations, after the explanations of what the company should focus on. His passion for cars led to the incorporation of the Ford Motor Company in 1903. With just 12 investors accompanied by 1,000 shares of stock, and with an overall initial investment of $28,000, the company made an incredible profit of $38,000 the same year, after the release of the first Ford Model A (Ford Motor Company, 2015). Before 1903, only the wealthy could afford to own a vehicle. Henry Ford, as an excellent industrialist and businessman, saw an opportunity in a market where automobiles were considered a niche product. Although Henry could still generate incredible income by simply producing cars for wealthy members of society, making money was never his primary goal. Henry Ford's intentions were much greater. Considering the company's external environment in the past, Henry Ford wanted to establish a successful relationship with 3 main players in this environment: suppliers, competitors and customers. His understanding of the external environment went hand in hand with his market. The other strength was that it had created value, and the best indicator of such value creation was the profit the company was able to make in a very short period of time. The other important strength (which relates both to Ford's past and to the present day) is the way the company helped accelerate a social revolution; since Henry Ford's goal was to build a low-cost car for every man (Grant, 2013). In doing so, Ford now occupies a strong position in the American market thanks to the good