AACSB standards: 1, 3, 6, 9, 10
EXPLORING THE WORLD WIDE WEB Significant Milestones Ford Motor Company entered the business world on June 16, 1903, when Henry Ford and eleven business associates signed the company's articles of incorporation and funded the start-up with $28,000 in cash. The earliest record of a shipment is July 20, 1903, approximately one month after incorporation, to a Detroit physician. Perhaps Ford Motor Company's single greatest contribution to automotive manufacturing was the moving assembly line. First implemented at the Highland Park plant in 1913, the new technique allowed individual workers to stay in one place and perform the same task repeatedly on multiple vehicles that passed by them. The line proved tremendously efficient, helping the company far surpass the production levels of their competitors and making the vehicles more affordable. In the 1950's, the company went public for the second time, and the company began its global expansion of in the 1960's. Past Challenges Henry Ford's insistence that the company's future lay in the production of affordable cars for a mass market caused increasing friction between him and the other investors. As some left, Ford acquired enough stock to increase his own holdings to 58.5 percent and replace John S. Gray, a Detroit banker, as the company's president. In 1919, a conflict with stockholders over the millions to be spent building the giant Rouge manufacturing complex in Dearborn, Michigan led to the company becoming wholly owned by Henry Ford and his son, Edsel, who then succeeded his father as president. After Edsel Ford passed away in 1943, a saddened Henry Ford resumed the presidency. In the 1930â€™s came the rise of organized labor. The relationship between management and the unions got off to a rocky start, since Henry Ford believed that his company already had its workersâ€™ best interests in mind. Current Challenges In the 2000s, Ford, like other global car companies, is hustling to catch up to the manufacturing efficiencies of Toyota and Nissan. Although Ford made significant advances in the 1990s, GM and Chrysler recently surpassed it.
Published on Jan 14, 2017
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