Ford Motor Company Is A Prosperous Business Essay

Introduction Ford Motor Company has been in business since the 19th century and it has enjoyed a rather successful run as one of the top automobile industries in the United States. Ford Motor Company is a prosperous business because of strategic changes that it was willing to develop and implement. Successful corporations have to adapt to the constantly changing environment or the company will be doomed to failure. In other words, customer shopping habits change as new products are introduced to the market or when other factors beyond Ford Motor Company’s control affect which vehicles are sold. For example, there is an increased demand for fuel efficient cars when the price per gallon of gasoline increases. In its long history, Ford Motor Company has demonstrated the willingness to cut its losses and try innovative techniques in order to maximize profit and maintain customer satisfaction and sustainability. Although the company no longer resembles the same corporation that Henry Ford built , it remains an example of how successful businesses should adapt to their changing environment by being receptive to different strategies. Henry Ford began the Ford Motor Company in Detroit, Michigan by using a variation of the assembly line that was perfected in meat packing plants to complete the first car. The first Model T car took roughly thirteen hours to complete, and with further experimentation Ford had the assembly time for a Model T car down to approximately ninety-three minutesShow MoreRelatedQuestions On A Financial Statement1133 Words   |  5 Pagesdifferences, the 10-K typically includes more detailed information than the annual report to shareholders,†( chapter 1.1). Many companies will send the 10-K, as their annual report to shareholders, in some instances’ the 10-K filed with the SEC and the annual report to shareholders are the (Epstein, 2014). 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These elements have essentially revolutionized the automobile industry. The Model T Ford made car travel affordable for the working class. In 1914 the average American workerRead MoreThree Great Men that Embodied the American Dream1381 Words   |  6 Pagespoor kid who lived in the slums would want to work hard and have perseverance in order to build up from the bottom and make the dream a reality. Three men that came to mind that worked hard to have the American dream would be Benjamin Franklin, Henry Ford, and Andrew Carnegie. These three men all came from a poor background. They worked their way from the bottom to build their careers and even helped the American society by influencing the advancement in technology. They dug their heads into books andRead MoreThe Legacy Of Henry Ford1052 Words   |  5 PagesHistorical Leader Henry Ford Henry Ford is a well-known historical leader who was born in Michigan in the year 1863 and later died in the year 1947. (Leadership With You). During his lifetime, Ford accomplished quite a bit and was a highly successful leader during his time. Ford stood up for what he believed in, while by being a peace candidate during his time running for office, and openly opposing World War II. (Leadership With You) Not only did Ford speak his mind and impressively perfectRead MoreFederal And Non Profit Organizations1255 Words   |  6 Pagesforefront by â€Å"advancing energy efficiency and renewable energy.† The organization has four programs that it provides grants for organizations – Energy, Climate, Transportation, and Buildings. The Ford Foundation Created in 1936 by Edsel Ford and his father, Ford Motor Company Founder Henry Ford, the Ford Foundation focuses on â€Å"advancing human knowledge, creativity, and achievement, promoting democratic values, and reducing poverty and injustice.† The Foundation currently has several areas of focusRead MoreThe Assembly Line Essay925 Words   |  4 Pagesmanufacturing A motor car for the great multitude a goal for Henry Ford(Schlager 593). In the 1920s, automobiles are rapidly changing the American lifestyle forever because of their affordability and also the development of new assembly technology to lower the cost. Technological innovations of assembly begin to expand and advance for the better throughout the 1920s, which impacts Americans and the people of the world today. Henry Ford, a bold figure during the 1920s, owner of Ford automobiles. His