Ford Motor
Company: Ford Motor Company
Founders: Henry Ford
Industry: Manufacturing – Automotive
History:
True to the adage, life began at forty for mass-production pioneer Henry Ford. At this age, Henry Ford changed his life and the American way of living.
The company’s operations were launched in 1903 with an initial capital of $28,000 collected from a dozen investors (two of which were John and Horace Dodge, who eventually formed the Dodge Brothers Motor Vehicle Company). Ford set up shop in a converted factory in 1908.
The Ford Motor Company introduced the idea of an “assembled” car, with one factory worker devoting himself to only a single or few parts of the car. Because of this, Henry Ford and his company is credited for the first successful implementation of a moving assembly line. This resulted in quicker production runs for the company, which resulted in the company producing as over 200,000 units in 1913 and eventually hitting more than a million units in 1920.
The Great Depression of the 1930s hit many American companies and forced them to completely close down. The family-owned Ford Company managed to survive this bleak period in the American economy. In those years, the Ford Motor Company still managed to produce more than half of all automobiles in the United States.
Ford also contributed to the United States’ success in World War II. The production of the Jeep was subsequently handed over to Ford Motors because of their efficiency in churning out fully-assembled units. After the war, Ford continued to expand its markets throughout the globe, establishing a division in Europe in 1967 as well as making a firm presence in the Asia Pacific region in 1970.
Ford currently remains as one of the most successful and profitable companies in the world. It has also radically and irrevocably altered the American and global automobile industries and catapulted them to heights never before achieved.
Leadership:
