Comprehensive Case study: Ford Motor Company
Table of Contents
- Company Overview
B. Industry and 10-year outlook
C. Vision, Mission, and Objectives
- Company Overview
A. History
1903, the beginning of one the largest auto companies in the world is founded. Ford motor company based out off the great state of Michigan came to be on June 16, 1903 when Henry Ford and 11 other investors signed the articles of incorporation on the company. Not long after in 1908, Ford constructed the Model T, one off the worlds most popular cars. The production lasted 19 years until 1927 when over 15 million vehicles were on the road. One of the biggest inventions came in 1913 when the Ford motor company introduced the automobile assembly line. This was one of the first assembly lines in the history of automobile construction. Fast forwarding to the-early 1940’s just as WWII begins, Ford creates the original Jeep for the U.S. Military. Starting in the late 1980’s, after years of success, Ford decides to purchase 75% of the British automaker Ashton Martin. As you can tell, Ford is the originator for a lot of ideas, including the introduction of the first SUV’s. The Ford Explorer was the best-selling SUV. For 15 year straight. Not only did ford purchase Ashton Martin, in 1992 they purchase half of Mazda Motor manufacturing. A lot has happened since opening in 1903 in Michigan, now Ford has even opened dealerships in China. This was done to get one step ahead for their competitions such as GM.
B. Industry and 10-year outlook
The automotive industry is made up of the worlds largest passenger automobiles and truck manufactures. Cars, trucks, vans, SUV’s, sports vehicles, and many other styles and designs are what makes the automotive world one of the most uniques areas. Other aspects include collisions, detailing, and of course auto selling. Economic conditions can have a large impact on the automotive world and that can really make or break the amount of revenue a company brings in. Years ago, it was said that by 2020 we would be flying around in cars, now as that has not happened, and it is already 2019, then what can we look for in the next ten years? Automakers such as merchandise Audi believe that in the next 10 year we will still have automobiles, however they will be self serving and full autonomous driving cars. Volvo for example has already created designers such as these that drive on their own with the rider seats behind a wheelie that can steer its own and that can detect when to accelerate and brake when needed.
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C. Vision, Mission, and Objectives
Ford vision is “People working together as a lean, global enterprise to make people lives better through automotive and mobility leadership” (Ford.com, 2019). Their mission is “One team. One plan. One goal. One Ford.” (Ford.com, 2019). Ford has many different objectives when it comes to automobiles and various aspects of the industry. By the year 2020, Ford wanted to be more balanced geographically with profits, meaning they wanted to expand and make profits in more countries than they already were in. One of their most important objectives comes in the safety field. They continue to invest an immense amount of time improving materials and technology. Automated driving technology, in-car connectivity, and military-grade alumni is alloy materials are just a few examples Ford has been working on to make their vehicles the safest on the road.
D. Company leadership
Ford Motor Company has a breakdown of their leaders by tiers. The three tiers are the board of directors, senior leadership team, and Vice Presidents. At the top of the chain is William Clay Ford, J who is the Executive Chairman and Chairman of the Board for the company. For years the Ford company has worked under a corporate governance and have done so in a very successful manner. The president and CEO is now Jim Hackett who took over this position in May of 2017.
E. Products and Services
Ford Motor Company have successfully made and sold millions of vehicles since their opening in 1903. Not only do they sell cars, trucks, SUV’s, they also sell parts and provide many services for their large book of clients. Services include collision repair, auto maintenance, and customer entertainment. Most Ford dealerships also have a collision repair shop on site for anyone with a Ford who gets into an accident. This ensures that the company gets that money and keeps their customers happy with such a convenient way to repair their vehicle if they do get into an accident. Another service is Ford’s service departments. Services done here can include oil changes, car maintenance, engine repair or replacement, and many other solutions to any issue your Ford may come in contact with. Finally, client entertainment comes in a few different manners such as merchandise as well as museums and factory tours. With Ford being based out of Michigan, there are plants and even museums that full capture the vision and timeline of the American company since the very beginning. This allows customers, potential consumers, and auto enthusiasts the chance to view this company with their own eyes and hands on ways.
Below are many of the products Ford offers:
- Automobiles
- Trucks
- Buses
- Tractors
- Automotive parts/components
- Financial services
- Vehicle leasing
F. Target Market
Ford has a wide range of target markets depending on what exactly you are looking for in a vehicle. You will notice on commercials and radio ads that there is a plethora of continent vehicles Ford sells. There tends to be a larger push for people who are looking to buy a truck since their biggest selling vehicle is their F-150 brand. Not only is it their largest selling vehicle it is one of their most expensive vehicles they offer for sale. The average price for a F-150 is around $30,000 new. The way Ford targets different areas is by their vehicles. If you’re a mom with 3 kids, maybe an SUV is the best for you. It all depends on your needs and wants and all f those are displayed very well in their marketing strategies.
G. Locations
Ford is America’s number one car brand and the 5th largest in the world. As of 2017, there are around 3,000 Ford and Lincoln dealerships.
Sources:
- Company. (n.d.). Retrieved from https://corporate.ford.com/company.html
- Corporate Governance. (n.d.). Retrieved from https://shareholder.ford.com/investors/corporate-governance/governance/default.aspx
- Kalogianni, A., & Kalogianni, A. (2016, January 12). The Future of Car Tech: A 10-Year Timeline. Retrieved from https://www.digitaltrends.com/cars/the-future-of-car-tech-a-10-year-timeline/
- Laporte, J. (n.d.). Topic: Ford. Retrieved from https://www.statista.com/topics/1886/ford/
- Posted By: Blackburn Wheels on. (2018, May 21). A Timeline History of Ford – Ford Motor Company Celebrates 112 Years. Retrieved from https://www.blackburnwheels.com/ford-history-timeline/
- Publishing, V. L. (n.d.). Retrieved from http://www.valueline.com/tocks/Industries/Industry_Analysis__Automotive.aspx#.XEI5j4xOnmo
- What Are the Ford Motor Company’s Objectives? (n.d.). Retrieved from https://www.reference.com/business-finance/ford-motor-company-s-objectives-a184c87c683c1266
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