ass1 – Ford Motor Company Monica Slone Bus499

ass1 – Ford Motor Company Monica Slone Bus499

Abstract

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The purpose of the paper is to research and understand how the changes of technology have impacted Ford Motor Company. This paper will also apply the industrial organization model and the resource-based model to determine how Ford Motor Company earns above-average returns. This paper will explain how Ford Motor Company success through its mission and vision statements. Finally, this paper will evaluate how the importance each category of the stakeholder impacts is to the overall success of Ford Motor Company.

Ford Motor Company 3 When it comes to the automotive industry one company has stood the test of time, Ford Motor Company. In July of 1903 Henry Ford along with 12 other stakeholders signed the official paperwork to become a corporation. (History, 2014) Since then Ford has become one of the leading companies in the automotive industry and revolutionized the manufacturing process. Taking a look back at the journey Ford Motor Company has made, you can see the way globalization and technology has impacted the company, how Ford has received above average returns, how the vision statement has affected its overall status, and how the stakeholders impact the overall success of the company. The use of technology and globalization within a company is vital, not only for profitability but also for growth. In the last hundred years technology is always evolving, for a company this means adapt and grow improving your practice and product. Henry Ford understood this at a very early stage while building Ford Motor Company, and continues to practice this understanding even today. Henry Ford was an innovator when it came to production he designed a multitude of moving assembly lines for the production. Due to this integration with technology Ford created a plant that utilized moving conveyor belts, this dramatically increased production. Ford also focused on All-in-One plants where processing of raw materials, parts and final automobiles could happen proficiently in one plant. (Encyclopædia Britannica, Inc., 2014) This allowed Henry Ford to concentrate on his employees and his customers. Ford anticipated outcomes from mass production to create more jobs within his company; this resulted in the implementation of eight hour shifts running five days a week with three shifts and higher hourly wages for workers within the plants. Due to his success Ford also created opportunities for the mentally handicapped and ex-convicts to work inside his plants. (Ford Motor Company, 2014)
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