Ford Motor Company
HISTORY – Henry Ford was an engineer from Detroit, Michigan who had an idea. By 1902, Ford had attempted several times to produce a gas powered vehicle, but with little capital, he realized that his attempts were futile. Ford approached a man by the name of Alexander T. Malcomson about the possibility of manufacturing an automobile. Malcomson, a friend of the family and wealthy coal merchant was reluctant at first but finally agreed with Ford, and decided to assit Ford financially with his endeavor. With Malcomsons investment and Ford’s engineering skills a partnership was formed and in mid June of 1903, papers of incorporation for the Ford Motor Company were filed in Dearborn, Michigan.
Despite nearing bankruptcy on a few occasions, the company finally took off with the launch of their first car- the Model A, and by 1920 approximately 60% of all automobiles on the road were Ford. Today Ford is the largest truck maker and the number two manufacturer of cars in North America, producing an average of eight cars or trucks per minute. The Ford Motor Company employs 371 702 people at over 2400 branches in 33 countries and sells automobiles in over 200 markets.
The current situation of the Ford Motor Company, revenue of $44 billion, 6 percent above second quarter 2006. The company net income of $750 million, or 31 cents per share, for the second quarter of 2007. Profit of $258 million, or 13 cents per share, from continuing operations excluding special items. There was a significant year-over-year improvement for all automotive operations. Ford Motor Credit pre-tax profit of $112 million. Cost reductions of $600 million; $1.1 billion through the first half of 2007. There was automotive gross cash at June 30, 2007 of $37.4 billion.
HENRY FORD & THE FORD MOTOR COMPANY PROF. POLLIONE ENGLISH 101 BE APRIL 28, 2002 OUTLINE Introduction: THESIS STATEMENT I. From the awesome mind of an inventor and entrepreneur came the first automobile and the revolutionary assembly line. Henry Ford was an incredible man with many talents. A. Biography 1. date & place of birth 2. early career II. The Quadricycle A. Inventing the ...
Ford Motor Company sales and revenue over the last three years has fluctuated tremendously, 2005 was 176.8 billion, 160.1 billion and for the year of 2006 and 172.5 billion for 2007. The current return on investment is -10.4 as of 2007.
Ford Motor Company current mission statement is “committed to provide personal mobility for people around the world”. With that in mind their vision is to become the world’s leading consumer company for automotive products and services. By improving everything they do, the company provide superior returns to their shareholders (Vision, Mission, Values).
“Ford Motor Company’s objective is to deliver a total return to shareholders in the top quartile of the S&P 500 over time”. The company will meet this goal by the transformation into the world’s leading consumer company for automotive products and services which make attractive dividend yield and growth in their share price (Ford Motor Company increases fourth-quarter dividend by nine percent).
Over time, Ford business strategy has responded to the challenges of the motor industry. The corporate culture of Ford management is establishing strategic business units that complement the company’s global scale and structure. They have being able to meet the challenges in the motor industry through the implementation of different strategies that trace the critical path throughout the complexity of the business.
These strategies include the fallowing areas;
• Information Technology – This technology is a critical and competitive differentiator for Ford (Career Programs).
Case 10-3: Galvor Company Background Galvor Company was founded in 1946 by owner, and president M. Georges Latour. The company had acted as a fabricator, buying parts and assembling them into high quality, moderate-cost electric and electronic measuring and test equipment. Latour had always been personally involved in every detail of the firm's operations as in most family businesses. Fiscal ...
• Climate Change – Ford is pursuing a three-pronged strategy as they see potential for innovative business opportunities in solving them (Ford Issues Climate Change Report).
• Consumer-Focused Organization – Ford is establishing strategic business units to more closely target consumers’ need and react quickly to changing in market conditions (Consumer-Focused Organization).
For Ford their main strategy is to “aggressively restructuring to operate profitably at the current demand and changing mix, accelerating development of new products customers want and value, financing its plan and improving its balance sheet, and working together effectively as a global team” (About the Company), by accomplishing this, they are able to meet the challenges of their competitors.
The policies in the Standard of Business Conduct are the basis for Ford Motor Company. These policy letters “establish a framework of broad, basic principles within which the Company conducts its business globally” (Policy Letters and Directives).
In addition to policy letters and Directives, numerous descriptions of business practices, handbooks and statements of business standards govern the conduct of employees globally (Policy Letters and Directives).
Ford Motor Company’s governance establishes accountability for performance to include integrating actions to support the ethical conduct of business. The Board of Director’s consists of fifteen members that are dedicated to serving the interests of their shareholders. The members are William Clay Ford Jr., Allan R. Mulally, Lewis Booth, Stephen G. Butler, Kimberly A. Casiano, Edsel B. Ford II, Irvine O. Hockaday Jr., Richard A. Manoogian, Ellen R. Marram, Homer A. Neal, Michael Bannister, Gerald L. Shaheen, John L. Thornton, Robert Graziano, and William Clay Ford Sr. The board members are mainly external except for William Clay Ford Jr. which serves as the Executive Chairman, Allan R. Mulally which serves as Ford’s President and Chief Executive Officer, Edsel B. Ford II, Robert Graziano, and Lewis Booth. William Clay Ford Sr. retired from the Board of Directors effective May 12, 2005 after 57 years of service and now serves as Director Emeritus. Nearly 40% of Ford’s board members are made up of insiders. Second only to Hyundai whose 42% of its board members are insiders.¹ The Board of Directors has five committees which are Audit, Compensation, Nominating and Governance, Environmental and Public Policy, and Finance. (http://investing.businessweek.com/businessweek/research/stocks/people/committees.asp)
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Solid principles of corporate governance are key to maintaining the trust of investors. The Board of Directors of Ford Motor Company has adopted these corporate governance practices to promote the effective functioning of the Board, its committees, and the Company.
The Board of Directors (the “Board”) of Ford Motor Company (the “Company”) has adopted the following Code of Business Conduct and Ethics (the “Code”) for directors of the Company. This Code is intended to focus the Board and each director on areas of ethical risk, provide guidance to directors to help them recognize and deal with ethical issues, provide mechanisms to report unethical conduct, and help foster a culture of honesty and accountability. Each director must comply with the letter and spirit of this Code.
Members of the board as of early 2007 are: Chief Sir John Bond, Richard Manoogian, , Stephen Butler, Ellen Marram, Kimberly Casiano, Alan Mulally (President and CEO),Edsel Ford II, Homer Neal, William Clay Ford Jr., Jorma Ollila, Irvine Hockaday Jr.,John L. Thornton and Williiam Clay Ford (Director Emeritus).
The main corporate officers are: Lewis Booth (Executive Vice President,Chiarman (PAG) and Ford of Europe), Mark Fields (Executive Vice President, President of The Americas),Donat Leclair (Executive Vice President and CFO), Mark A. Schulz (Executive Vice President, President of International Operations) and Michael E. Bannister (Group Vice President; Chairman & CEO Ford Motor Credit).
Paul Mascarenas (Vice President of Engineering, The Americas Product Development)(Ford Motor Co., 2008).
The Ford Motor Company board members and corporate officers realize the intricate role they play in representing the interests of their shareholders.
John Ford Dorothy R. Dona hoo English 2145 Dr. Klink 04/03/99 John Ford was an American motion-picture director. Winner of four Academy Awards, and is known as one of America's great film directors. He began his career in the film industry around 1913. According to Ellis, Ford's style is evident in both the themes he is drawn toward and the visual treatment of those themes, in his direction of the ...