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 500 companies in the 2013 edition. Ford’s current headquarters is in Dearborn, Michigan.
II. SWOT Analysis
According to Kerin, Hartly and Rudelius, authors of the textbook Marketing 11th edition, SWOT is an acronym that describes an organization’s appraisal of its “internal strengths and weakness along with its external opportunities and threats.” The SWOT analysis includes examining the company’s strengths and weakness in the areas of management, offering, marketing program, finance, personnel, manufacturing and research and development. In addition, the analysis includes a second part, the company’s external opportunities and threats, which include consumer/ social, competitive, technological, economic, and legal/ regulatory.
“Ford is regarded as the second-largest commercial brand in the world and one of the leading commercial vehicle brands in North America.” Ford’s mission statement of “One Team, One Plan, One Goal. ” The Company has a strong mission that includes 7/9 essential components and stresses teamwork as their main value. The statement is customer-oriented, which means that it will be long lasting and won’t become obsolete if Ford would suddenly choose to expand into other automotive product markets.
Ford sold around 2.2 million US vehicles in 2012 - the only brand to top two million US sales since 2007. 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.
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%.
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...