Essay about Ford Motor Company Balanced Scorecard and Strategy Map

2081 Words Oct 19th, 2014 9 Pages
Assignment for Course: | ACT5060 | Submitted to: | | Submitted by: | | | | | |
Date of Submission: 2014
Title of Assignment: Semester Project: Balanced Scorecard

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Ford Motor Company Balanced Scorecard
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The Balance Scorecard has been further divided into four categories which visualize the objectives, measures, targets, and expected outcome for a company’s future goal.

Background:

It all began in 1896, when a young man named Henry Ford created the first gasoline-powered vehicle called the Quadricycle in a workshop he created in the back of his home, (1). At that time, Mr. Ford had no idea how influential his innovation would be to how the world moved forever. Henry Ford started the Ford Motor Company in Detroit, Michigan in 1903 with $28,000 in cash. It should be noted, Mr. Ford had two unsuccessful attempts at starting up an automobile manufacturing company before 1903. Ford Motor Company quickly succeeded at its mission and gained its advantage and scope over competitors by its ability to produce an affordable, efficient and reliable automobile.

In Ford Motor Company’s earlier days, only a few cars were assembled per day, which were built by hand by small groups of workers (3). However, a great new concept arose in 1913 that allotted for large-scale manufacturing; Ford’s engineers gravitated towards it instantly. This concept was known as the assembly line, a revolutionary process improvement that made it possible for Ford Motor Company to manufacture automobiles faster more efficiently by keeping workers stationary while repeatedly performing the same task. Nevertheless, workers did not