5 consistency after setting up the goals and

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Unformatted text preview: ure at Ford. 5. CONSISTENCY After setting up the goals and strategies within the Ford and transforming the culture, he remained focused on what his laid to his people and is still following what he devised them. He started the colour coding system for the problems and cautions so that these can be identified, discussed and rectified. RESTORING FORD TO ITS ICONIC IDENTITY In 2006, William Clay Ford Jr., the then president of Ford, took a risk by hiring an aeronautical engineer to lead his company. All the other things are history now. Ford has been an exception to all the news related to the downsizing, arbitration in the automobile industry. Ford have gained respect and positive instances from the market with the credit going to the man at the top; Mr. Alan Mulally. He made the right decisions at right time by devising new plans and strategies in the company; he took the criticism of industry analysts and acted upon it. He foreseen the recession and took necessary steps to face the bad time and made promise to himself and the American people that if his action backfired he¶ll reduce his salary to $1 in order to pay off some of the penalty. He remained fearless in the bad times and sold some of the assets of the company and received some of the money against them which was good for the company, instead of loosing more money on operating those assets and brand names, they decided to get rid of them. He had only one thing in mind, only Ford to focus on and he remained committed to his goals. Ford built its competitive advantage in the Ford SYNC gadget and brought innovation in the car industry. His perspective had long term goals. The automobile industry is about to rebound. GM is well financed from the government and is ready to penetrate the market. Ford has increased sales and its market share rose from 14% to 17% in 2010 (Wikinvest).Ford Focus won the number three top selling award with Ford Escape at number 10 in the Clunkers event last year. As of 2009, GM and Chrysler had borne the losses in terms of declining sales to 20% and 15% respectively. Yes, Ford is earning profits. After the industrial crisis that left the industry giants, GM and Chrysler, and other top suppliers under huge debt and bankruptcy, Ford is flying high. It earned the profit of $2.6 billion on the sales. The market share of Ford increased by 1.4 points from 14% to 17.5%. Mulally expects to succeed further. The Focus was the company¶s first global car based on Mr. Mulally¶s strategies, called One Ford. One Ford sells the same model which is built in the same way to all the markets around the globe. More than 75% of its parts will be easily availed in all the regions. The concept of One Ford insulates the consumers¶ preferences about the value quality, safety, fuel efficiency and design and integrates them into one single standardized car. This strategy will help Ford to meet the needs and wants of the people around the globe with fewer costs. If this idea of One Ford worked out, this will further lead to the sales of higher volume of Ford cars with 20% less cost of production than the...
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This document was uploaded on 03/17/2014.

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