Background:Goodyear is one of the worldÃÂs leading tire brands, with their brand being marketed in all major continents and markets. Goodyear produces a vast array of tires ranging from racing tires to luxury tires to heavy-duty tires, along with high performance engineering and manufacturing products. Goodyear has over 60 manufacturing facilities in 25 countries and employs around 70,000 people. It has recently been named in Forbes magazine as the most admired motor vehicle parts company, as well as one of the trustworthiest companies in America.
History:Goodyear first came into operation on the year of 1898, when the first Goodyear factory opened in Akron, Ohio. Production originally consisted of bicycle and carriage tires, rubber horseshoe pads, and poker chips. But this was merely a modest beginning for what would become the worldÃÂs largest tire company. By 1926 it had become the worldÃÂs largest tire company producing tires for all types of motor vehicles and airplanes, and by the 1950ÃÂs was posting turnover of over $1 billion.
1984 saw sales reach $10 billion. This however preceded a tumultuous few years, which saw a takeover attempt and resulted in massive restructuring of the company. The 2000ÃÂs saw a period of decline for Goodyear, however the last couple of years have seen a reinvigorated Goodyear re-establish itself as one of the leading tire manufacturers in the world.
Specific Global Pressures For Change:Goodyear has faced escalating costs for raw materials in its production of its goods, and so has been forced to look at ways to increase efficiency in its production to make up for the increase of costs for its goods. The price for rubber has risen by on third over the past year alone, posing a fair few problems for Goodyear. This has forced Goodyear into looking...