The Ford Motor Company, founded in 1903, was a company developed by Henry Ford and his vision to make cars available to everyone. Ford Motor Company is a global company with two core businesses: Automotive and Financial Services. The Automotive business consists of the design, development, manufacture, sale and service of cars and trucks. The financial side provides the financing.
Ford, number four in the Fortune 500, is a huge conglomerate and the top pick-up truck producer in the world. Only General Motors, its greatest competitor, makes more cars. Toyota and DaimlerChrysler are other top competitors. Ford has grown so large that it has bought out many competitors in the car industry including Volvo, Aston Martin, Jaguar, Lincoln, Land Rover, Mercury, and 50% of Mazda. Ford and its subsidiaries operate more than 26,000 dealerships worldwide.
Everyone is familiar with the blue oval containing a cursive "Ford" in the center. Ford has a great reputation as an American company; many customers take pride in buying Ford - an American car. By not changing the name of its subsidiaries, Ford has maintained its American image despite having operations throughout the world.
Strengths and Weaknesses
1. Collaboration of Ford and Toyota: On August 22, 2011, Ford Motor Corporation and Toyota Motor Corporation announced that they will collaborate on the development of new advanced hybrid system for light truck and SUV's. "This agreement brings together the capability of two global leaders in hybrid vehicles and hybrid technology to develop a better solution more quickly and affordably for our customers," said Derrick Kuzak, Ford group vice president, Global Product Development. Ford has achieved a breakthrough with the Ford Fusion Hybrid, and intend to do this again for a new group of truck and SUV buyers. This collaboration will bring a huge benefit for Ford over its competitors as Ford is best in making Trucks and Toyota makes good fuel efficient cars.
2. Community Relations: In 1949 Ford founded a not-for-profit organization that supports three strategic areas like: driver safety, education and American-heritage. In addition to donations from the Fund, Ford also makes direct corporate contributions to a variety of charitable organizations and causes. In 2010 Ford donated $29 million. Out of that $18.9 million was in the form of grants and remainder was the corporate giving. A breast cancer awareness campaign was created in which celebrities were enlisted to tell how breast cancer has affected them. The company takes strides to protect the environment demonstrated by the development of an electric vehicle and efforts to increase fuel efficiency. Ford also encourages employees to participate in programs that build stronger communities through the Ford Volunteer Corps. During 2010, some 27,000 Ford employees and retirees in 41 countries provided more than 112,000 hours of work on more than 1,100 community service projects - the equivalent of $2.25 million of in-kind corporate contributions. Many of these volunteer projects received mini-grants to help complete the project.
3. Employee Relations: Ford provides incentives for employees to work at high quality levels. For example, the "Thumbie" award is given to employees who demonstrate a high personal commitment to their customers and community. Higher wages are also characteristic of the company. Hourly workers typically have wages from $19-$26 an hour, as skilled trade workers make $21-$30 an hour. The company also created a Family Service and Learning Center program for Ford workers, family members and retirees, offering health classes, after-school tutoring and trips for seniors.