Innovation in Ford: Future Industry Trends and Organizational Needs

This report provides an in-depth analysis of innovation management within Ford, a prominent player in the automotive industry. It begins with an executive summary and introduction, outlining the report's purpose and structure, followed by an assessment of the future of the automotive industry, considering emerging trends and developments. The report then examines Ford's organizational innovation requirements, focusing on new product development and growth strategies. It explores the company's vision, mission, and opportunities, including funding sources and application of new product development. Furthermore, the report delves into building future innovation capabilities, emphasizing the importance of vision, leadership, culture, and teamwork. The report also includes an analysis of the Ford Mustang. The report concludes with key findings, recommendations, and references. This report is a comprehensive analysis of Ford's innovation journey, providing valuable insights into the company's strategies, challenges, and future prospects in a rapidly evolving industry.

Managing Innovation in
Business

EXECUTIVE SUMMARY
Innovation is termed as the procedure of creating and demonstrating something new
products, executing and offering new sort of the sections in the business. It will also refers to a
perspective that gets changed into practical set of business. In any sort of business growth it will
evaluate in an orientated and regular term of manner so that they are capable to lead and have
better work and efficiency as effectively. By identifying and maintaining the unique manner that
is essential as there are various contestants and in respect to compete with them, growth of goods
and facilities that is essential. Innovation is an important term that will lead to have development
by influencing skill set of an individuals to get satisfy the manner of the demands. As when
business have invention in their goods and facilities, launch something new then it will leads to
help in developing their business. In context to the invention, it deals with developing and
creating new set of factors but innovation will involve the manner for improving old products.
Auto-mobile industry will termed as to be one of the most technical and active field of industry
as across to the globe that concentrates as on heavily upon the implementation of new innovation
section of period of time to time in respect rise the field and the standard of substructure and
techniques in the same. Ford is a well-known name in automotive industry and it also has
secured a good position for itself in the respective set of the industry as well. The report
highlights upon the thorough examines of innovation progression in Ford Mustang as with the
same term as effectively.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
TASK...............................................................................................................................................4
The future of the industry 2020 and beyond................................................................................4
The organisation innovation requirement 2020 and beyond.......................................................6
Building the future innovation capabilities for the organisation.................................................7
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation management is the procedure of managing an innovative thought of ideas as
effectively. It termed as the business leader that has the thought of an idea to maximise the term
of the income and market share in the business as in a positive manner. Innovation is termed as
the procedure of creating and evolving something unique, executing and serving a new technique
to follow tough issues. It will not involve single manner for presenting factors but it also termed
to improve earlier issues also. Innovation basically includes various mechanisms like
improvement, creation, designing and enhancement (Cennamo, and et.al., 2020). As the
business and product innovation is termed as the procedure of starting new goods and their
facilities to their consumers in the corporate markets. Innovation generally include the account of
the production, marketing, consumer support and as well as the term of the sales to attain the
development for their new products and facilities. This report is based on innovation on Ford,
which provides transportation facilities and will also provide particular manner of the platforms.
This report will also involves a significance of innovation that will provides mission, leadership,
culture and teamwork, importance of new developed products and innovation business case,
assessment of techniques that is used to create, retain, protect and intelligent stuff as along with
its conclusion.
TASK
The future of the industry 2020 and beyond
Business growth -
When any new and unique term will offer to the consumers it will makes an innovation in
their goods or make improvement in their present product that will lead to have development of
the business of management (Magnusson, Koutsikouri, and Päivärinta, 2020). As it will also
defined the role when any business will also innovates any new products that they attain their
anticipated development as due to improvement that has been done in their present key manner
of the product but in Invention of the Company that do not attain the higher term of the
development as a complete new product that is invented and they are in their initial stage in the
company as effectively.
Business case -

It is generally defined the role of the business in a managed field of the structure
document that involves in the activities and tasks. In terms of Ford, the company is developing
and creating various fields of an innovation business case so that they might achieve the
development and growth to get establish their gods and might commercialise it (Li, and
et.al.,2020). Company is generally make their own set of plan to create the new and an unique
form of the sections as it will also be able to deliver services and facilities from the side of the
company to their consumer in an efficient manner at the market place with proper efficiency.
Background of Ford -
Company is generally developing and designing world's first transition car set of the
model that might perform various sort of the actions and activities at the same course of the time
with proper effectiveness. Product that will be established consists combination of heavy payload
and long range capabilities and it will also suit to the consumer by which such facilities will
influence them and make them hard to buy company’s product from their show rooms.
Vision -
Company's vision is to be leader in terms of providing various sort of the facilities and
services to their consumer by which they feel safe and secure to use them.
Mission -
Company's mission is to have changes in it at broad level and as per to their demand of
the goods and creating new set of the product with proper term of planning of services and
facilities in the company as effectively.
Opportunities in markets -
As there are several set of the chances for the business as it might serve and save 90% of
their costs, carbon emissions and time in making and checking new sort of the products with
consuming a great loss of the time as effectively.
Funding -
Company have the various sort of the sources of the fund that is from drone revolution
fund that is in company with Government (Sajkiewicz, 2020). As they also got some extra sort
of the funds from various country and their government who are bringing foreign investments
and helped them in forming an increase growth rate of their company. It helps the company in a
broad manner with the purpose to serve best to their consumers with proper manner.
Ways of access funding -

 Bank loans - It is termed as the manner to make use of all the funding that means to pay
a particular set of the amount of money of every month that is measured as a manner of
interest (Grama-Vigouroux, and et.al., 2020). It is defined in a monetary course of the
value in the bank to provide the manner of the money to other party and they have to give
back with interest in an adequate course of the manner. Internal source - As there are various sort of the internal sources of the funds in finance
that means that they are functioned in the business with practice of the all present
activities in the business with proper set of knowledge in the business. Crowd funding - It is termed as the manner of the procedure of maximising the amount
of the money from a broad set of the number to their audience so that individuals might
get the fund for their project that the company will utilise for the growth and
development or for any basic reason. It is also termed as the part of crowd sourcing and
alternative finance in the key factor of the business with a suitable course field of the
area.
The organisation innovation requirement 2020 and beyond
Applications of New Product Development and growth
New product and service development or growth is termed as the multi-disciplinary
procedure that will changes the set of the market opportunity in the complete marketable of the
new product to generate consumer satisfaction as effectively. As there are various sort of the
stages and their procedure that will lead to the growth and the development procedure that are as
follows -
 Generation of idea - It is generally refers to the proper term of the investigation for new
set of the product of the thought of ideas. As there are two main term of sources of new
role of ideas that will involve an internal section of the idea sources and external idea
sources in the business as effectively (Bellstam, Bhagat, and Cookson, 2020). In terms
to an internal sources, the company have defined the manner of the search that
continuously phrased the new role of the ideas while performing research as an internal
level and only but in case of an external sources the thought of ideas that are generated
from suppliers, distributors and participants as effectively in the business. Screening of idea - It generally termed as the manner that are taking up with the better
terms of the ideas from various sort of thought of the ideas that has been produced as fast

as they can. In the term of the manner that has been idea generation in the company. It
also term as the manner that will refers to execution and the role for designing the manner
of several sort of the ideas and one ideas that has been selected in the business. Development and testing - In such procedure the manner of an effective thought of the
ideas it must be created the manner (Liu, Yang, and Zhang, 2020). It defines the role for
developing and creating a new product and challenging it as the more particular and
physical presentation that should be done in respect to produce the consumer value as
effectively. Development of marketing strategy - As when the product that will starts the sections
that are getting created such manner of the stages that are carried its growth of several
section that are to be marketing plan of actions that is utilised for inventing new term of
the services in the market as efficiently in the business. Analysis of business – Such term of the stage as generally that will involve the manner
for figuring the best of all values, profit and sales calculations to examine out as the
consumers and their satisfactions in the business of management that is company’s
priority. Product of development - This stage of new product development will involves the
manner for carry the basic portion of the growth and development of the product in its
physical presence in the business in an effective course of manner. Test marketing - This stage relates as about to the testing and estimation of the products
and services in the market with as many production sectional role in the business.
 Commercialisation - It is basically termed to the set of the sections that are related to the
manner of an introduction of new product in the market with proper field of the area.
Such stage will include the high manner of the amount of costs that are sustained and the
company that has to spend on promoting sales terms of the product in the business as
effectively.
In terms of Ford Company that is carrying out new thought of the ideas that are to be
phrased the sectional output from the manner of the input in the business (Vidmar, 2020). It
relates with the several sort of the variation of the sources that are need to be managed in the
business as in the positive term in the business of management with new set of the ideas and role

of perspective with proper feature of the innovation in the company with an adequate term of the
structure.
Building the future innovation capabilities for the organisation
Innovation will provides the manner of the vision, leadership, culture and teamwork to
companies that will help them in driving out the key point of a good marketing terms and
generating consumers in the business with a proper course of actions. In terms of Ford Company
that might use such factors in having that are as follows:
 Vision - By featuring up the plans and activities of the company vision that is considered
to be most important and essential element to attain their various aims and objective with
proper key feature of the goals (Sotnyk, and et.al., 2020). As the business of the
management that has and will also carry out the manner of the clear vision. It will also
phrased the orientation to become an easy task and make it easy for the company to
achieve the development and growth as effectively. In terms of Ford Company, it will
helps the business of management in creating and forming an innovation as the business
that will have their set of terms to design and will develop their section of the situation as
where all individuals belongs their manner of the form in the various manner of the
different circumstances and it will also provide with the chance to segment their thought
of ideas in to carry innovation practice as effectively. Leadership - In present period of the time, by without carrying an efficient leadership,
company that will not be capable to attain the level of growth and development.
Leadership is supposed to be phrased the manner of handling the business as per to their
aims and targets. As there are various sources of leadership like repressive, democratic
and participative that might be utilised by business in respect to attain their goals. In
terms of Ford, the company is subsequent follow the manner of the democratic leadership
style in their functions to drive out an innovation practices as effectively. Culture - Organisational culture might be termed as the manner for getting things
complete in the business with proper course of time. It is basically involve the manner of
factors such as rituals, structure, symbols and power (Svensson, Mahoney, and Hambrick,
2020). In terms of Ford, innovation develop their manner that have an impact because of
its culture. As it termed as an innovation to getting things done and terms of the people as
their performance and their thought of ideas as effectively. When any sort of innovation

is done then it gets influenced by culture also. In context to the company, all process that
has been followed is form by culture as because to the procedure that is made as per to
what kind of rituals, ideas, structure is get accepted in the business of management. Team work - In the company efficient and effective teamwork is essential as it will helps
in solving all sort of issues and problems that related to the project as in finishing a
project and actions as per to planning that is being done (Sharma, Watve, and Pandey,
2020). As it should be a specific and particular team that performs various sort of the
actions and task in respect to innovate something new variety of the product and
facilities. In terms of Ford, the teamwork is performed by driving out the project and
action as together in respect to maximise effectiveness and as per to that aims that are
provided by new thought of ideas that might attain their targets as effectively.
There 4Ps of innovation which could be used in having innovation that will help in forming new
thought of ideas. In terms of Ford, 4Ps of innovation that are as follows - Process innovation – This P of innovation is termed as an execution and relating of
complete improved set of the production. It involves the manner for the changes that are
completed in techniques, products and even application. Business that are basically
applies the term of the procedure in an innovation in respect to the manner to support
business of management to frame their procedure in a particular field and systematic
manner that promise that their management that will help in achieving their growth and
development as effectively. As there are various sort of the factors that have the main
term of the section that is to be take use of the proprietary orientation that might be able
to provide their facilities and services to their consumers as effectively. Paradigm innovation - This P of innovation will termed as the manner that states
various sort of the function in the business of the management (Gerebrink, and
Korshavn, 2020). It will also relates to the transformation in the business to complete
various term of the techniques and methods. It basically involves the manner that will
include the manner in the different concepts, beliefs and principles. It will also referred
the section of the model. In terms of Ford, the company is utilising their car practices in
oils and Gas Company that would be mannered in the section. As they are offering new
techniques and the methods or the approaches in the manner by subsurface geophysical
acquisition in the business of management as effectively.

 Product innovation - This P of innovation will termed to the growth and the
development that will design the manner for new set of an innovative products
improvement that will changes the orientation that has been done is present manner of
the products. It has been performed as because to the companies that want to improve
their quality and will also enhance the manner of the products that are already in utilised
section. Position innovation - This P of innovation will deals with the orientation of the sections
that are designing the key role of the changes in the method of the products that are
produced and get innovated as effectively (Lennerts, Schulze, and Tomczak, 2020). As
there are various sort of the changes that will involve the section that will carried
forward as an individual's perception as per to the particular product that gets change in
the management as effectively. In terms of Ford, the company is still at a beginning stage
as but to the change that was made by breaking their roles into rigid traditional barriers
in the business of the management. It is also measured that work load and the manner of
the production costs got minimise as the consumer decision making terms and the
relations will also get accurately proper for getting improved as effectively.
Comparison of innovation and invention is as follows:
Basis Invention Innovation
Occurrence Invention generally occurs when
management team set their own
manner with a new and an
innovative field of idea and as per
to the company, it will invent a
new goods and their facilities in the
management.
Innovation generally occurs in
business when management team of
the company will feels that there is a
need of improving present set of the
product and new execution might be
made.
Skills needed When following any invention in
product there is essential of
scientific abilities. It will relates to
detecting goods that must be
launched in respect to attain
In driving out an innovation technical
and marketing that are needed that
involve the manner for executing as
something new and improving
present products as per to their needs

consumer satisfaction. and wants of consumers.
Concern Invention is basically carried and
focused with the single product.
Innovation is basically concerned
with different products and services
as there might be various products
that needs to be get enhanced.
CONCLUSION
From the above mentioned report it has been concluded that innovation is considered as to
be an essential sort of the element that is to be carried out in business practices for more sectional
and area of field in the management. Innovation plays an important role for each sort of the
business. As when innovation is bring out by the business it might help in leading and producing
competitive benefits and incomes. Business that might be keep as their concentration manner on
having innovation in their provided products and facilities as rather than inventing them. This
report carries a brief explanation about importance of innovation and modes that provides vision
and role to innovation. The growth and the development of the business lies in its innovation
abilities like introduction of stylish, comfortable and standard car that is Ford Mustang into the
market. The innovation abilities in context to the strategic goals and techniques involvements
that has helped the business to survive as over the years and many more to come in an efficient
and effective manner.

REFERENCES
Books and Journals 13
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