Ford Motor Group - Henry Ford Lab Report Example | Topics and Well Written Essays - 1500 words

crossover Motor Group - hydrogen Ford - research lab Report ExampleMajor points discussed in the report will be summarised at the end of the paper. 2.0 Findings Ford Motor Company was founded in 1903 by atomic number 1 Ford and it specialised in manufacturing automobiles. The company rose to prominence when it invented the Ford T model which attracted a lot of customers after being launched in the market. This stimulate the founder to use his entrepreneurial skills to devise strategies that could improve the production process of the vehicle so as to be in a better part to gain a competitive advantage over other players in this particular case. The report will analyse the strategies utilise by the founder in ordering to establish the extent to which they contributed to the success of the company. 2.1 Entrepreneurship Basically, the concept of entrepreneurship fecal matter be defined as the process of searching the stock environment to identify business opportunities for imp rovement or start-up enterprises to mobilise resources as well as to implement actions to maximise these opportunities (Bowler, 1996). To a larger extent, it can be said that entrepreneurship is learnt behaviour where it can be seen that profitable business opportunities are realised after carefully scanning the environment. It is important to determine the strong and weak points before starting up a business. Henry invented the Ford car and he did not end there. He went on further to devise strategies that were to improve the production of the vehicles. The success of Ford Motor Company can be attributed to the founders outstanding leadership skills as well as the capability to devise strategies that could improve productivity. Henry Ford displayed great entrepreneurship skills when he invented the Model T vehicle. For instance, in 1913, he turned his attention to improving the manufacturing process in order to help support the growing demand for the Model T car (Ford Motor Corpor ation, 2013). He implemented the technique that allowed workers to stay in one place and perform the kindred task repeatedly and it soon became the standard of production in the automobile industry. According to its official website, the strategy of moving the assembly line proved tremendously efficient and it helped the company to surpass the production levels of its competitors by far while making its vehicles more affordable. 2.2 Marketing Marketing is defined as the process used by marketers to satisfy the needs of the people in a profitable manner (Lamb et al, 2008). Essentially, selling is concerned with satisfying the needs of the customers with the aid of using sundry(a) tools in meeting the marketing miscellaneaes. It is therefore the responsibility of an entrepreneur to adapt a marketing strategy that effectively utilises the marketing mix in order to appeal to the interests of a certain group of potential buyers in the market targeted. This can be done through the ef fective utilization of the marketing mix so as to be in a position to attract as many customers as possible. Ford Motor Company uses various marketing strategies in order to satisfy the needs of different customers. For instance, the product is designed to suit different needs of the customers. According to its official website, the company offers a tolerant range of hybrid cars and these are designed to appeal to the interests of as many people as possible. The company makes an effort to keep pace with the changing demands and tastes of the consumers with