“I have the greatest job in the world,” Fields says. “I’m able to serve the company during a revolution in the industry. It’s very exciting.”
Last year, Ford posted record pre-tax profits. This March, it set up a new subsidiary, Ford Smart Mobility, in Silicon Valley to invest in innovation and devise its own disruptive solutions. Instead of just counting units sold, it will explore how people will move in the future, from car- and ride-sharing to developing connectivity to self-driving vehicles.
On the importance of innovation
“When I joined Ford, we were primarily a manufacturing company. Now, we’re a manufacturing and technology company. Going forward, we’ll be a manufacturing, tech, and information company, as our field becomes connected. Innovation is in our blood. It goes back to Henry Ford, one of the world’s greatest innovators.
That drives us today. At every opportunity, we talk about how to challenge custom, because, in a 113-year-old company, you get set in your ways. It’s about not taking anything for granted, using technology, focusing on consumer experience, acting quickly, taking appropriate risks, and learning to do it all over again.”
“We are transitioning from an auto company to an auto and a mobility company.”
Mark Fields, CEO, Ford Motor Company
On the world around the corner
“We want to disrupt ourselves. Part of that has to be imagining what the world will look like in ten years. That is difficult, but we look at societal trends, like the growth of mega-cities and the growth of a global middle class, which is going to double over the next 15 years and means more congestion in urban areas. We’re also looking at emissions. It used to be simply about environmental impact, but now we also analyze how they affect human health. And, then, we consider changing consumer behavior. Look at millennials: they’re delaying buying houses, getting married, having kids. They want access to things versus ownership.”
On the move to Palo Alto
“We have gone to where the talent is. Silicon Valley is an ecosystem of ideas. We’re working with start-up companies, incubators, and large technology companies. We now have more than 100 professionals in the Research and Innovation Center and are going to continue growing. It’s helping us both uncover new ideas and understand how to work with start-ups. We’re a big company, but they’re teaching us a few things.”
On looking back to look ahead
“Our strategy going forward is focusing on our core business, which is developing great cars and trucks, but also looking at emerging opportunities, like Ford Smart Mobility, and embracing those, so we position the company for success in each area as we envision the future. The “why” of Ford, coming back to our founder, was helping make people’s lives better and change the way the world moves. We are interpreting that for the twenty-first century and being forward looking to grow and look at what non-traditional auto companies are doing to see if there’s opportunity there.”
