Henry ford

Henry ford

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        Introduction        

Entrepreneurship is the engine of economic growth, according to ‌Wolfgang Runge (2014). the term of entrepreneurship is define as creating a new economic activity which may involve the transformation of a new idea into a successful invention. The development of new economic activity is correlated not only with creativity but also with other "entrepreneurial" characteristics such as risk-taking and proactivity.

this research is divided into two parts A and B the first we will discover the Demographic profile of an international entrepreneur which is HENRY FORD the founder of Ford Motor Company, and motivation challenges which he faced before he reached his goal and success and we will discuss on the second part about the technology entrepreneurship and its features.  

PART A: HENRY FORD

 Firm’s profile

        Ford Motor Company is an international company which was created by Henry Ford in 1903 in Dearborn, Michigan (Ford, H. & Crowther, S. 1922) The main activity of Ford’s Motor Company was to produce and sell automobiles designed by Ford Henry, but Nowadays the company operates also in other segments like financial services and mobility services (Ford Motor Company, 2020). The company is running around 190.000 employees around the world and managed around 156 billion USD of sales around the world in 2019 (Ford Motor Company, 2020). Ford Motor Company offers its product to companies (B2B), customers (B2C) and also to governments (B2G) worldwide. However, the biggest market for Ford in the world is the United State market approximately 45% of total sales followed by china by 10% around 2.5 million and 535 thousand units sold respectively in 2019 (Ford Motor Company, 2020).  

Demographic profile of Entrepreneur

Henry Ford was an American entrepreneur who revolutionised production of car and Fostering the development of mass production assembly line techniques for the automotive sector (Bellis, M. 2008). On July 30, 1863. Henry Ford was born in Dearborn, Michigan and died on April 7, 1947 (Msu.edu. (2018). He is the first son of Mary and William Ford, his father immigrates to America in 1847 and settled on a firm in Wayne County (Ford Corporate. 2019). Henry graduated from grade one to eight in two one-room schools, which is the Miller School and the Scottish Settlement School (Bellis, M. 2008). Early on Ford, it showed some of the features that would make him strong, popular and successful, since Henry was a little child, he had a passion for mechanical devices, and he hated working on his father's farm. (Msu.edu. 2018). When henry had 16 years old, he run away from his family to Detroit where he would become an apprentice machinist (Ford, H. & Crowther, S. 1922).  

      He found a job at Michigan Car Company Works streetcar, but after six days he was fired and had to return home. In 1879, henry received an internship in Detroit at James flower and brothers machine store (Ford Corporate. 2019). After nine months of working, he decides to leave the job for a new position at Dry Dock Company in Detroit which was major in iron ships (Bellis, M. 2008). He regularly advanced over the next dozen years. On 11 April 1888, Henry will marry Clara his sister's friend, he called her the Believer, since from their first days together she believes in him and encouraged his plans to create automobile (Wiley.com. 2019). In July 1891 Henry was employed as an engineer at the Edison Illuminating Company and after approximately two years exactly on 6 November 1893, henry promoted to become Chief Engineer (Ford Corporate. 2019). Even as he began his career at Edison, Ford dedicated himself to make a working automobile. He presented to Clara a template in 1891, for an internal combustion engine written on the back of a paper music piece. It was another matter to put this concept into practice (Wiley.com. 2019) Ford joined a national employee meeting in Edison. Many years Thomas Edison had been a hero for Ford, But it was Edison who wanted to meet the talented innovator at the meeting after news spread around that the obscure Detroit engineer had designed an automobile. "You have the right idea young man, keep right at it," said Edison (Wiley.com. 2019). After this meeting, henry works hard and he believes more in his idea. Thomas Edison become a friend and lifelong advisor of henry ford (Ford Corporate. 2019). Ford started dedicating his free time to create what he called the "Quadricycle" (‌Entrepreneur. 2019). After driving it approximately 1000 miles he sold it for 200 USD in 1896, after that he started working on the second model (Ford, H. & Crowther, S. 1922). On august 15, 1899, he quit the job to focus on his ambition on producing the automobile. thenceforth, Ford was on his way well he decided to run his own automobile manufacturing business. Henry has started his new company the Detroit automobile company (Bellis, M. 2008). after 2 year of the creation of the company in 1902 henry ford was pushed out (Wiley.com. 2019).   due to slow progress of producing cars which he produces only 20 cars on 2 years (‌Entrepreneur. 2019). and the man who took the company change it for Cadillac motor company (Ford Corporate. 2019).  On 1903 Henry Ford will create a new company the ford company motor with a capital of 100 000 USD including 28 000 USD cash from his friends and family and the rest was from other investors which contributed by assets (Wiley.com. 2019). This time henry will take another approach, instead of targeting business henry will design a vehicle that will be used by labouring class. At the first-year henry ford made and sold 1708 cars in three different model A, B and C (Ford, H. & Crowther, S. 1922). In 1908, ford design the Model T that made his dream reality, a model which is cheaper, more reliable and simpler to build than the other Models and after just a few months it was so successful, the factory was already swamped that lead Ford to declare that the firm could no longer accept orders ‌(Entrepreneur. 2019). In 1913 ford create a second company highland park ford plant where he used a new innovative productive process the assembly line which will make ford build a car on just 93 minutes and by 1918, half of all automobiles in the USA were the Model T (Ford, H. & Crowther, S. 1922). On 1919, ford bought all stockholders and became the only owner of the company and his son Edsel took the position of president until his death in 1943, after that Henry ford elected his grandson Henry ford II to be the president (Ford Corporate. 2019).

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