What went wrong with FORD
There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.
Original Ford Mission
In 1907, Henry Ford announced his goal for the Ford Motor Company: to create "a motor car for the great multitude." At that time, automobiles were expensive, custom-made machines.
To help build a better world, where every person is free to move and pursue their dreams.
Well Henry Ford had a mentality of service of doing more with less, of building cheap and robust products that would last forever.
In August 6 2022 , wall Street Journal had the following cover
At Ford, Quality Is Now Problem 1
Ford used to tout the reliability of its vehicles in ads. After a string of recalls, the auto maker is trying to change how it finds problems.
A company has to have one image, like Toyota has of reliability, not cheap but very good lasting products. In Africa we almost only see TOYOTAS. FORD used to have an image of cheap reliable and a good price. That is gone. what should FORD do now.
Not this:
On July 11, The Detroit Free Press reported that Ford deliberately ignored warnings from engineers that the transmission on its low-cost Focus and Fiesta models was defective. Then, the company told dealers to tell customers that everything was fine, even though it knew that wasn't the case.
what went wrong?
After many decades the company launched a new strategic plan in 2000 to focus on the 21st century. The strategy was aimed at increasing market share and production of smart cars with fuel efficiency.
Well to have a strategic plan to increase market market share is something Henry Ford would never do. They should solve small problems make a better product . But that was not the strategy. The results are below. They lost their position to TOYOTA. Reliable is not FORD anymore
Wealth, like happiness, is never attained when sought after directly. It comes as a by-product of providing a useful service.
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