The worldwide automotive industry
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Introduction: The worldwide automotive industry, including that portion controlled by Ford Motor Company, is affected by a number of factors over which Ford Motor Company (Ford) has little control, including general economic conditions worldwide. In the United States, the automotive industry is a highly competitive and cyclical business in which there are a wide variety of product offerings. The number of cars and trucks sold, known as industry demand, can vary substantially from year to year. In addition to general economic conditions, factors influencing industry demand include the cost of purchasing and operating cars and trucks, the availability of credit, the cost of credit and the cost of fuel. According to Thomas Watson (2004), the big three U.S. carmakers continue to compete head to head for market share and dominance in the all-important U.S. auto market (Watson, 2004). Business History: Ford Motor Company began business in 1903. With an initial investment of $28,000, Henry Ford began to create what today is one of the world's largest corporations. Perhaps Ford Motor Company's single greatest contribution to automotive manufacturing was the moving assembly line. This technique greatly increased efficiency through specialization by allowing individual workers to stay in one place and perform the same task repeatedly on multiple vehicles that passed by them. Business Description: Ford owns a group of automotive brands including Ford, Lincoln, Mercury, Mazda,
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prices
A more traditional SWOT analysis would show the following internal and external environmental considerations for Ford:
Strengths
Strong brand name and reputation among customers
Knowledgeable exclusive distributors, and worldwide distribution channels
Dealers motivated to sell Ford products rather than any of the competition.
Weaknesses
Ford's international presence is spotty
Its national media advertising campaign could always be improved
After being in business for almost a century, it is hard to convince the old guard that innovation is and will remain essential.
Opportunities
Americans are becoming more interested in purchasing luxury vehicles such as high end SUVs
To continue to expand and increase market share internationally.
To modify the existing distribution channels to exploit changes in customer buying patterns
Changing demographics in the all-important US market make it increasingly important to successfully target younger, upwardly mobile potential automobile buyers.
Threats
Threats include actions that domestic and foreign competitors are taking, or may take.
The need for technological improvement, as well as improvement Ford products' safety ratings.
The risk that a competitor will deve
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Approximate Word count = 1539
Approximate Pages = 6 (250 words per page)
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