Sample Essay
Ford has been cutting down its production costs in order to increase is margins more than those of its competitors. The use of standardized parts of various Ford models has seen the the company reduce its costs by more than one billion dollars in the past few years. In addition, Ford has adapted the use of reverse engineering in the manufacture of its products with one example of this application being the Taurus development to be the best-in-class car in that category as compared to those manufactured by its competitors (Kisler, 2004).
Innovation has been a major focus of Ford in the automotive industry in regard to technology. According to a SWOT Analysis carried out by the data monitor, the company has successfully adopted videoconferencing, design methods using computers as well as other manufacturing technologies. This has helped Ford to compete favorably and remain relevant in the automotive industry.
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