Ford Motor Company Essay -- essays research papers

It was once said, â€Å"Those who do not study the past are deemed to repeat it.† On the brink of the new 21st century it is important for us at the Ford Motor Company to take a look at our past to see what has worked and what has not in order to set the standards for the automotive industry. It is also imperative to take a close look at what our competitors have done because we can also learn from their mistakes as well as improve on some of their ideas that have worked for them. It is important to realize that the world is ever changing and therefore what people want, and the market for automobiles is changing as well. Therefore we must first take a look into our competitors, and our pasts before we can then begin to look toward the future of the Ford Motor Company in the 21st century. It was a little over one hundred year ago that Henry Ford first came up with his dream to create an automobile that would change the world. Although it was Henry’s dreams and drive for success that lead him to his achievements it was not without the three giants-steel, oil, and transportation, that were the building blocks for the Ford Motor Company. From the beginning he knew that in order to sell his product and make his company a success he would have to be able to appeal to the masses. At this time Ford was not the only man to be in the small but growing automobile industry. There were others such as David Buick, Ransom Olds, and Billy Durant, who were also trying their luck in this new market. At this time owning an automobile was almost impossible unless one was quite wealthy. Although Buick, Olds, and Durant were all producing autos they were all having trouble selling their products because their production costs were too high. These costs were reflected onto their sel ling price, which was very hard to afford for most of the working class. This is what caused their financial troubles and helped Ford move into the market. He understood that in order to make his company a success he would have to make his automobile one that could be afforded by the masses. While the other producers of autos were more concerned with who had the bigger, better, and faster car, Ford had a different focus. His philosophy was: â€Å"I will build a motor car for the great multitude†¦it will be so low in price that no man†¦will be unable to own one.† It was for the next five years, a young Henry Ford d... ... by the Chrysler Corp. The minivan market is still growing because of the capacity that it offers, its affordability, and efficiency. Although at this time the SUV is the fastest growing market, it is risky to put more effort into it due to the fact that the bigger, faster, gas guzzler craze is probably nothing but a craze, especially as we move into a more environmentally safe future. This has been seen before in the early eighties when this same craze took place right before gas prices jumped and the move to a more efficient automobile took place. American car companies were not ready for this and foreign markets became much more popular. In order not to repeat this history, more emphasis should be placed on the development of a new and efficient minivan that will surpass GM and Chrysler. In conclusion, as we move through the beginning of a new century we must first look to our past to learn what has worked and what has not. After doing so, we can then begin to devise our plans that will move us ahead with the changing times. This can, and will be, accomplished as the Ford Motor Company moves back on top of the automotive industry where it started almost 100 years ago.