Major points discussed in the report will be summarised at the end of the paper. 2.0 Findings Ford Motor Company was founded in 1903 by Henry Ford and it specialised in manufacturing automobiles. The company rose to prominence when it invented the Ford T model which attracted a lot of customers after being launched in the market. This inspired the founder to use his entrepreneurial skills to devise strategies that could improve the production process of the vehicle so as to be in a better position to gain a competitive advantage over other players in this particular case. The report will analyse the strategies used by the founder in order to establish the extent to which they contributed to the success of the company. 2.1 Entrepreneurship Basically, the concept of entrepreneurship can be defined as the process of searching the business environment to identify business opportunities for improvement or start-up enterprises to mobilise resources as well as to implement actions to maximise these opportunities (Bowler, 1996). To a larger extent, it can be said that entrepreneurship is learnt behaviour where it can be seen that profitable business opportunities are realised after carefully scanning the environment. It is important to determine the strong and weak points before starting up a business. Henry invented the Ford car and he did not end there. He went on further to devise strategies that were to improve the production of the vehicles. The success of Ford Motor Company can be attributed to the founder’s outstanding leadership skills as well as the capability to devise strategies that could improve productivity. Henry Ford displayed great entrepreneurship skills when he invented the Model T vehicle. For instance, in 1913, he turned his attention to improving the manufacturing process in order to help meet the growing demand for the Model T car (Ford Motor Corporation, 2013). He implemented the technique that allowed workers to stay in one place and perform the same task repeatedly and it soon became the standard of production in the automobile industry. According to its official website, the strategy of moving the assembly line proved tremendously efficient and it helped the company to surpass the production levels of its competitors by far while making its vehicles more affordable. 2.2 Marketing Marketing is defined as the process used by marketers to satisfy the needs of the people in a profitable manner (Lamb et al, 2008). Essentially, marketing is concerned with satisfying the needs of the customers with the aid of using various tools in meeting the marketing mixes. It is therefore the responsibility of an entrepreneur to adapt a marketing strategy that effectively utilises the marketing mix in order to appeal to the interests of a certain group of potential buyers in the market targeted. This can be done through the effective utilization of the marketing mix so as to be in a position to attract as many customers as possible. Ford Motor Company uses various marketing strategies in order to satisfy the needs of different customers. For instance, the product is designed to suit different needs of the customers. According to its official website, the company offers a wide range of hybrid cars and these are designed to appeal to the interests of as many people as possible. The company makes an effort to keep pace with the changing demands and tastes of the consumers with
Table of contents 1. Introduction 2 2.0 Findings 2 2.1 Entrepreneurship 2 2.2 Marketing 3 2.3 Organizational culture 4 2.4 Motivation 5 3.0 Conclusion 6 4.0 References 7 1.1 Introduction The report focuses on Ford Motor Company and it will discuss factors that have contributed to the success of the company from an entrepreneurial point of view…
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Marketing is all about creating shareholder and social value, achieved through products that deliver value to customers in the marketplace by providing an aggregate of benefits that the customers recognize more than competitively substitutable products.
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It will begin with an overview of the company, followed by a comprehensive discussion on the profile of Henry Ford. Further the justification of the marketing strategies implemented in the company will be analysed in order to indicate the reasons why FMC has always remained among the top players in the automobile industry.
The company was formed in the year 1903 by the automaker Henry Ford and the company started selling cars and small vehicles under the brands Ford and Lincoln. The company had introduced several methods for large scale operations of domestic and industrial vehicles.
The company was established in the year 1903 and is based in Dearborn, Michigan (Ford, 2013a). The company is involved in manufacturing and distribution of vehicles across six continents. The brand is the second largest automobile company is United States.
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1 pages (250 words)Lab Report
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