Article from The Financial Express
Ford doubles production on higher demand
Jaishankar Jayaramiah
Posted online: 2010-09-16 01:29:36+05:30
BangaloreFord India, the wholly-owned subsidiary of US car major Ford Motor Company, has doubled production at its Indian manufacturing facility in Chennai following increase in demand in the domestic market, a top official said.
Michael Boneham, president & managing director of Ford India, said the production in Chennai facility has been increased to 400 cars per day from 200 units. The increase in production has been achieved by introducing the second shift since July, he said.
“We have tripled our sales in August. So we need to increase our production,” Boneham said. The carmaker sold 7,925 vehicles in August this year, up by 220% compared to the same period a year ago. The company's sales in the first eight months of this year rose by a whopping195% to 54,676 vehicles compared to the same period in the previous year. “We expect same kind of performance in the rest of the year as the festival season is round the corner,” he added.
Without disclosing the figures, he said the company will maintain required level of inventories at its dealership to meet the festival demand. Currently Ford India, which has around 4,000 employees, has 167 dealerships across 97 cities in the country.
The newly launched small car Figo is the main driver of the company's sales growth, he said. The Ford Figo remains at the top of the sales charts with more than 34,000 bookings recorded in the 25 weeks since it was introduced.
The annual production capacity at the company's car manufacturing unit in Chennai has been increased to 2 lakh cars from 1 lakh a year ago. Ford is manufacturing Figo, Ikon and Fiesta with higher local contents in the range of 85-90% while it is assembling the imported Completely Knocked Down (CKD) kits of Endeavour with an indigenous level of around 35%.
http://www.financialexpress.com/news/Ford-doubles-production-on-higher-demand/682083/#
WEEKLY ARTICLE
Name: Anna Sklyarova
Section: 4
Ford Doubles Production on Higher Demand (The Financial Express)
Date: September 19, 2010
India is one of the strongest emerging markets for automobiles in the world. As such, consumers that are finally getting the money to buy more expensive products like automobiles are turning to well established companies for a quality product. Since Ford has a highly established portfolio, it is one of those frequently chosen by customers.
Sales have tripled since this August in India according to Michael Boneham, president and managing director of Ford India. He, though he did not reveal exact numbers, says that similar figures are expected to continue and the factories shall be able to meet the increased demand.
The main drive of the production is small vehicles like the newly launched Figo. The Figo has remained in the top of the sales charts complemented by smaller sales of the Ikon and the Fiesta.
Thursday, September 23, 2010
Business Component- Entrepreneuship (Ford Motor Company)
Business Plan Component
To: Professor Palermo
From: Anna Sklyarova
Section: 04
Subject: Entrepreneurship
Company name: Ford Motor Company
Team name: 4
Sources:
"About Ford Motor Company - Ford." Ford Motor Company: Cars, Trucks, SUVs, Hybrids, Parts - Ford. Ford Motor Company. Web. 05 Sept. 2010. <http://www.ford.com/about-ford/>.
"About Ford Motor Company - Ford." Innovator, Industrialist, Outdoorsman: Henry Ford Started It All. Ford Motor Company. Web. 05 Sept. 2010. <http://www.ford.com/about-ford/heritage/people/henryford/650-henry-ford>
The Life of Henry Ford. American Association of Museums, 2003. Web. 5 Sept. 2010. <http://www.hfmgv.org/exhibits/hf/>.
Crowther, Samuel. “Henry Ford: Why I Favor Five Days’ Work with Six Days’ Pay.” World’s Work October (1926): 613-616. Web. 05 Sept. 2010. http://www.worklessparty.org/timework/ford.htm.
Weekly Stock Prices: $11.87 (September 15th, 2010)
Henry Ford was born on July 30th, 1863on a prosperous family farm in Dearborn, to William and Mary Ford. When he was young, his interest in engineering emerged. He actively pursued this interest and by fifteen became known in his community for fixing people’s watches and taking everything else apart. Although he could have just as easily remained in the agricultural business like his father, his innate dislike of farm work and restless desire to work with machines lead him down a different path. (Ford.com)
When he turned 16, Ford left home for Detroit to work as an apprentice machinist. He spent three years as an apprentice and later returned to Dearborn to work on steam engines, supplementing his lifestyle with occasional work in a Detroit factory as well as a reluctant hand in farm work.
In 1891, Ford made a conscious decision to dedicate his life to industrial pursuits and became an engineer with the Edison Illuminating Company. His promotion to Chief Engineer in 1893 gave him enough time and money to devote attention to his personal experiments on internal combustion engines. In 1896 he completed his self-propelled vehicle-the Ford Quadricycle. With the financial backing from the vehicle, Ford left his engineer position and helped found the Detroit Automobile Company in 1899. The company floundered due to the low quality and high prices of its products and in 1901 Ford left to pursue his own work again. (HFMGV.org)
When the Ford Motor Company started in 1903, the infant company produced only a few cars at a time with small groups of men working with components made to order by other companies. In 1908, Ford introduced the Model T automobile and initiated a revolution in transportation with the first easy to operate and reasonably priced car. For the first time in the history of the automobile, the car was no longer just a luxury. (HFMGV.org)
The growing demand in the auto industry caused Ford to open a large factory in Highland Park, Michigan in 1910 and here Fordism, his greatest legacy, was born. Fordism is the mass production of inexpensive goods with the assembly line coupled with high wages for workers to facilitate them to buy the goods he was making. (HFMGV.org) Increasing the wages to five dollars a day (effectively doubling the standard) helped draw the best engineers in the industry. In an interview with “World’s Work” in October 1922, Ford said “We try to pay a man what he is worth and we are not inclined to keep a man who is not worth more than the minimum wage.”
In the beginning of 1919, the presidency of the company transferred from Henry Ford’s hands into Edsel’s—his son and the person who held the company together behind the scenes in business and administration. With Edsel’s negotiation the Ford family became sole owners of the company by purchasing stock of the other shareholders. Under Edsel’s direction Ford facilities were expanded to foreign locations. He constantly emphasized good design and service as the prime factors in Ford sales. (Ford.com)
In 1943, after Edsel's death from cancer at age 49, Henry was persuaded to return as president of the company but retired again two years later leaving the company to Henry Ford II, Edsel’s eldest son. Henry Ford had a global vision, with consumerism as the key to peace. His intense commitment to systematically lowering costs and emphasizing quality resulted in many technical and business innovations.
To: Professor Palermo
From: Anna Sklyarova
Section: 04
Subject: Entrepreneurship
Company name: Ford Motor Company
Team name: 4
Sources:
"About Ford Motor Company - Ford." Ford Motor Company: Cars, Trucks, SUVs, Hybrids, Parts - Ford. Ford Motor Company. Web. 05 Sept. 2010. <http://www.ford.com/about-ford/>.
"About Ford Motor Company - Ford." Innovator, Industrialist, Outdoorsman: Henry Ford Started It All. Ford Motor Company. Web. 05 Sept. 2010. <http://www.ford.com/about-ford/heritage/people/henryford/650-henry-ford>
The Life of Henry Ford. American Association of Museums, 2003. Web. 5 Sept. 2010. <http://www.hfmgv.org/exhibits/hf/>.
Crowther, Samuel. “Henry Ford: Why I Favor Five Days’ Work with Six Days’ Pay.” World’s Work October (1926): 613-616. Web. 05 Sept. 2010. http://www.worklessparty.org/timework/ford.htm.
Weekly Stock Prices: $11.87 (September 15th, 2010)
Henry Ford was born on July 30th, 1863on a prosperous family farm in Dearborn, to William and Mary Ford. When he was young, his interest in engineering emerged. He actively pursued this interest and by fifteen became known in his community for fixing people’s watches and taking everything else apart. Although he could have just as easily remained in the agricultural business like his father, his innate dislike of farm work and restless desire to work with machines lead him down a different path. (Ford.com)
When he turned 16, Ford left home for Detroit to work as an apprentice machinist. He spent three years as an apprentice and later returned to Dearborn to work on steam engines, supplementing his lifestyle with occasional work in a Detroit factory as well as a reluctant hand in farm work.
In 1891, Ford made a conscious decision to dedicate his life to industrial pursuits and became an engineer with the Edison Illuminating Company. His promotion to Chief Engineer in 1893 gave him enough time and money to devote attention to his personal experiments on internal combustion engines. In 1896 he completed his self-propelled vehicle-the Ford Quadricycle. With the financial backing from the vehicle, Ford left his engineer position and helped found the Detroit Automobile Company in 1899. The company floundered due to the low quality and high prices of its products and in 1901 Ford left to pursue his own work again. (HFMGV.org)
When the Ford Motor Company started in 1903, the infant company produced only a few cars at a time with small groups of men working with components made to order by other companies. In 1908, Ford introduced the Model T automobile and initiated a revolution in transportation with the first easy to operate and reasonably priced car. For the first time in the history of the automobile, the car was no longer just a luxury. (HFMGV.org)
The growing demand in the auto industry caused Ford to open a large factory in Highland Park, Michigan in 1910 and here Fordism, his greatest legacy, was born. Fordism is the mass production of inexpensive goods with the assembly line coupled with high wages for workers to facilitate them to buy the goods he was making. (HFMGV.org) Increasing the wages to five dollars a day (effectively doubling the standard) helped draw the best engineers in the industry. In an interview with “World’s Work” in October 1922, Ford said “We try to pay a man what he is worth and we are not inclined to keep a man who is not worth more than the minimum wage.”
In the beginning of 1919, the presidency of the company transferred from Henry Ford’s hands into Edsel’s—his son and the person who held the company together behind the scenes in business and administration. With Edsel’s negotiation the Ford family became sole owners of the company by purchasing stock of the other shareholders. Under Edsel’s direction Ford facilities were expanded to foreign locations. He constantly emphasized good design and service as the prime factors in Ford sales. (Ford.com)
In 1943, after Edsel's death from cancer at age 49, Henry was persuaded to return as president of the company but retired again two years later leaving the company to Henry Ford II, Edsel’s eldest son. Henry Ford had a global vision, with consumerism as the key to peace. His intense commitment to systematically lowering costs and emphasizing quality resulted in many technical and business innovations.
Executive Summary-Entrepreneurship
EXECUTIVE SUMMARY
To: Professor Palermo
Subject: Entrepreneurship
Team name: 4
Section: 4
Team Members:
Anna Sklyarova (Ford)
Ryan Ong (Time Warner)
Michael Obrycki (Continental Airlines)
Alex Reminick (Goodyear)
Written by: Anna Sklyarova
Often the most successful companies are the ones that were bought off or have transferred in ownership from the initial idea makers. Smart investors with financial and marketing know-how can easily take a company based on an innovative idea from nothing to the top.
Coca-Cola is one of the most recognizable and powerful symbols in the world today. One would never imagine that something so identifiable was started in a backyard. Dr. John Pemberton invented Coca-Cola in a three-legged kettle in his backyard on May 8, 1886. It debuted as a five-cent non-carbonated beverage. After creating the final product, Pemberton sold part of the Coca-Cola Company to Asa Candler and after Pemberton's death the remainder was sold to Candler. Under Candler’s progressive management the first syrup manufacturing plant was created in 1884 and large scale bottling of Coca Cola began in 1899.
The Time Warner Incorporation is an aggregation of a variety of media companies such as Time Inc. and Warner Bros., which merged in 1990 and then further merged in 2000 with AOL under the chairmanship of Steve Case. The company has been developing and changing its focus as new business opportunities have presented themselves.
Although Walter T. Varney and his partner, Louis Mueller, were the technical fathers of Continental Airlines, they ran it only for two years before selling it to Robert F. Six. Today, most people consider Six as the true founder and entrepreneur of Continental Airlines, responsible for making Continental the fourth largest airline service in the United States. He took it from a limited regional operation to longer routes to larger cities, transforming the regional into a trunkline.
Henry Ford was widely known for his engineering capabilities but he was almost entirely uninterested in the actual management of the Ford Motor Company. It was not until 1919, when the presidency of the company transferred from Henry Ford’s hands into Edsel Ford’s, the person who held the company together behind the scenes in business and administration that Ford facilities were expanded to foreign locations. Edsel expanded on the aesthetics of the cars and service as the prime factors in Ford sales. (Ford.com)
Many companies benefit from their environment. If the social and economic background of the time is well suited to the type of product being marketed, then even a product that at any other time might have gone unnoticed can be catapulted in prominence.
The first Goodyear factory opened in Akron, Ohio in 1898. In 1901 Frank Seiberling provided Henry Ford with racing tires. By 1908 Ford was outfitting his Model T with Goodyear tires. The company grew with the advent of the automobile. In 1912 Goodyear manufactured its first aircraft tire. Both Ford and Goodyear contributed significantly in outfitting the Allies during World War I and this provided them with a strong financial base for future operations.
During World War II, Continental's Denver maintenance facilities became a conversion center where the airline converted B-17s, B-29s and P-51s for the United States Army Air Force. Profits from military transportation and aircraft conversion enabled Continental to contemplate expansion and acquisition of new aircraft types that became available following the war.
Many companies start out with an individual with a enterprising idea. However often these individuals are too focused on their ideas to be able to effectively promote them. Thus it is important to bring in new administrators or allow the idea to be marketed by someone with a strong drive. Multiple factors come into play once you actually start promoting the idea, the most important being “Is this the right environment and time for this product to succeed?” Companies that are lucky enough to fulfill the requirements of rigorous management and convenient timing are the most likely to succeed.
To: Professor Palermo
Subject: Entrepreneurship
Team name: 4
Section: 4
Team Members:
Anna Sklyarova (Ford)
Ryan Ong (Time Warner)
Michael Obrycki (Continental Airlines)
Alex Reminick (Goodyear)
Written by: Anna Sklyarova
Often the most successful companies are the ones that were bought off or have transferred in ownership from the initial idea makers. Smart investors with financial and marketing know-how can easily take a company based on an innovative idea from nothing to the top.
Coca-Cola is one of the most recognizable and powerful symbols in the world today. One would never imagine that something so identifiable was started in a backyard. Dr. John Pemberton invented Coca-Cola in a three-legged kettle in his backyard on May 8, 1886. It debuted as a five-cent non-carbonated beverage. After creating the final product, Pemberton sold part of the Coca-Cola Company to Asa Candler and after Pemberton's death the remainder was sold to Candler. Under Candler’s progressive management the first syrup manufacturing plant was created in 1884 and large scale bottling of Coca Cola began in 1899.
The Time Warner Incorporation is an aggregation of a variety of media companies such as Time Inc. and Warner Bros., which merged in 1990 and then further merged in 2000 with AOL under the chairmanship of Steve Case. The company has been developing and changing its focus as new business opportunities have presented themselves.
Although Walter T. Varney and his partner, Louis Mueller, were the technical fathers of Continental Airlines, they ran it only for two years before selling it to Robert F. Six. Today, most people consider Six as the true founder and entrepreneur of Continental Airlines, responsible for making Continental the fourth largest airline service in the United States. He took it from a limited regional operation to longer routes to larger cities, transforming the regional into a trunkline.
Henry Ford was widely known for his engineering capabilities but he was almost entirely uninterested in the actual management of the Ford Motor Company. It was not until 1919, when the presidency of the company transferred from Henry Ford’s hands into Edsel Ford’s, the person who held the company together behind the scenes in business and administration that Ford facilities were expanded to foreign locations. Edsel expanded on the aesthetics of the cars and service as the prime factors in Ford sales. (Ford.com)
Many companies benefit from their environment. If the social and economic background of the time is well suited to the type of product being marketed, then even a product that at any other time might have gone unnoticed can be catapulted in prominence.
The first Goodyear factory opened in Akron, Ohio in 1898. In 1901 Frank Seiberling provided Henry Ford with racing tires. By 1908 Ford was outfitting his Model T with Goodyear tires. The company grew with the advent of the automobile. In 1912 Goodyear manufactured its first aircraft tire. Both Ford and Goodyear contributed significantly in outfitting the Allies during World War I and this provided them with a strong financial base for future operations.
During World War II, Continental's Denver maintenance facilities became a conversion center where the airline converted B-17s, B-29s and P-51s for the United States Army Air Force. Profits from military transportation and aircraft conversion enabled Continental to contemplate expansion and acquisition of new aircraft types that became available following the war.
Many companies start out with an individual with a enterprising idea. However often these individuals are too focused on their ideas to be able to effectively promote them. Thus it is important to bring in new administrators or allow the idea to be marketed by someone with a strong drive. Multiple factors come into play once you actually start promoting the idea, the most important being “Is this the right environment and time for this product to succeed?” Companies that are lucky enough to fulfill the requirements of rigorous management and convenient timing are the most likely to succeed.
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