Case Study of Ford Company: Use of Innovation for Better Competition
Ford is one of the revered car brands in the global market. The Ford Motor Company has its headquarters in Dearborn, Detroit. Henry Ford founded the automobile company in 1903. The firm has become a leading manufacturer and marketer of automobiles around the globe. The firm is known for producing the Lincoln and Ford brands. Ford competes with different companies such as General Motors (GM), Volkswagen, Toyota, and Mercedes Benz. Throughout the years, Ford has been using powerful approaches to attract more customers and improve its sales. For instance, the introduction of the Ford Mustang in 1964 revolutionized the firm’s performance. Ford also introduced and marketed new vehicles in different parts of the globe. The success of the firm led to the acquisition of Aston Martin in 1990 and Jaguar Cars in 1994. However, the beginning of the 20th century was characterized by numerous challenges such as increased fuel prices Continue reading