Ford to rely on ''compelling innovations'' to boost turnaround

Mark Fields, president of Ford Motor Company's North American operations and architect of the automaker's turnaround plan called 'the way forward' is betting on innovations to pull the company out of decline.

"Our goal is not just to compete, but to change the basis of competition by coming out with great innovations — the kind that are so relevant to the lives of their users that they bring new customers to a market," Fields said.

Ford, now pushed down to the No.3 position in global rankings by Japan's Toyota, in an internal memo recently conceded that it expected to lose its second place in US sales to Toyota in 2007. Analysts also expect GM, for long the world's largest automaker to also lose its global dominance to Toyota shortly.

In a bid to reverse the slide, Ford has stepped up its encouragement to employees who generate ideas that the company could use. Over 6,000 ideas generated internally went directly to Bill Ford Jr. The ideas ranged from speed locks for teenage drivers to converting waste engine heat into electrical energy.

In appreciation, the company recently presented 60 company researchers, engineers and scientists, from 13 technology teams, with the annual 'Henry Ford Technology Awards'.

Over the last 26 years, Ford has accorded recognition to around 1,200 individuals from 445 technology teams in the areas of research, manufacturing and product development with these awards, its highest honour for technical achievement.