The Ford Motor Company was founded in Detroit by Henry Ford, who was born in 1863 and began working on motors for inventor Thomas Edison in 1891 (“A History of Ford Motor Company”). Ford became one of the great industrialists of the 20th century, and it quickly became a well-known name and remains today a popular and dependable brand of car. Ford cars have had a long and varied history as the product of this innovative and ever-changing company. In the early times of Ford, there were only a few cars assembled per day, and they were built by hand by very small groups of workers from parts those were made to order by other companies. This article introduced that “the Ford’s first project was the two-cylinder Model A, which first sold in 1903 and could travel at a speed of 30 miles per hour at 8 horsepower” (“A History of Ford Motor Company”). And then, another article that introduced a brief history of Ford said that “With the introduction of the Model T in 1908, Ford succeeded in his mission to produce an affordable, efficient and reliable automobile for everyone: within a decade, nearly half the cars in America were Model Ts” (Jury, 2012). …show more content…
According the textbook named Strategic Management in Action said that the CEO at the time, named Jacques Nasser planned to transform Ford from a simple car manufacturer to a consumer brand company (Coulter, P254). He suggested to take the company into different business areas such as Internet ventures, car retailing, repair shops, and junkyards. However, these plans suffered defeat and defeat. Then, this CEO was fired and William Clay Ford Jr. took on the position. He understood his family responsibility, so he tried to save the company and drove it into its second century. Again, the company flopped and having lost about $6.4 billion total in 2001 and