Ford Motor Company Essay
Address: The American Road
Dearborn, Michigan 48121, USA
Public Company Incorporated: July, 1918
Sales: $62.17 billion
Stock Index: New York, Boston, Pacific Midwest, Toronto, Montreal, London
Until recently, the Ford Motor Company has been one of the most dynastic of American enterprises, a factor which has both benefited the company and has brought it to the brink of disaster. Today Ford is the second largest manufacturer of automobiles and trucks in the world, and it’s operations are well diversified, both operationally and geographically. The company operates the worlds second largest finance company in the world, and is a major …show more content…
In developing the assembly line, Ford noted that the average worker performed several tasks in the production of each component, and used a variety of tools in the process. He improved efficiency by having each worker specialize in one task, with one tool. The component on which the employee worked was conveyed to him on a moving belt, and after allowing a set time for the task to be performed, the component was moved on to the next operation. Slower workers thus needed to increase their work rate in order to maintain production at the rate determined by the speed of the belts.
When the US became involved in World War I (April 1917), the Ford Motor Company placed it’s vast resources at the disposal of the government. For the duration of the war, Ford Motor produced large quantities of automobiles, trucks, and ambulances, as well as Liberty airplane motors, whippet tanks, Eagle “submarine chasers” and munitions.
In 1918, Henry Ford officially retired from the company, naming his son, Edsel, president. At the end of the war Henry and Edsel disagreed with fellow stockholders over the planned expenditure of several million dollars for a large new manufacturing complex at River Rouge. The Fords eventually resolved the conflict by buying out all the other shareholders.