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Ford Motor Company

Ford Motor Company faced several problems in the late 2000s and early 2010s. Low sales and revenue losses due to the economic crisis affected the business. Ford also had high costs due to healthcare expenses for employees. Foreign automakers had lower costs on average, putting Ford at a disadvantage. Additionally, Ford struggled with large debts from loans taken out during the recession that were still being paid off over a decade later. These financial problems threatened Ford's ability to compete in the global market.

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0% found this document useful (0 votes)
740 views

Ford Motor Company

Ford Motor Company faced several problems in the late 2000s and early 2010s. Low sales and revenue losses due to the economic crisis affected the business. Ford also had high costs due to healthcare expenses for employees. Foreign automakers had lower costs on average, putting Ford at a disadvantage. Additionally, Ford struggled with large debts from loans taken out during the recession that were still being paid off over a decade later. These financial problems threatened Ford's ability to compete in the global market.

Uploaded by

Angel Whuyo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Republic of the Philippines

BATANGAS STATE UNIVERSITY


COLLEGE OF ACCOUNTANCY, BUSINESS, ECONOMICS AND
INTERNATIONAL HOSPITALITY MANAGEMENT
CITE Building, Pablo Borbon Main I, Rizal Avenue, Batangas City

STRATEGIC MANAGEMENT

Case Study: Ford Motor Company

Submitted to:
Mrs. Mary Grace Mandane

Submitted By:
Beloso, Mathea Joy
Bilog, James Mark
Caringal, Kristel Imee
Delgado, Ericka
Huyo, Chasmin Angel
Manalo, Joanna Rose
Panganiban, Nina Kryztel
Tives, Shella
Group 3

BSMA 1201

1|Page
EXECUTIVE SUMMARY

Ford Motor Company is an American international automobile manufacturer

headquartered in Dearborn, Michigan, a Detroit suburb. The company was founded by

Henry Ford and incorporated on June 16, 1903. Ford Motor Company's mission

statement describes the company as "passionately committed to providing personal

mobility for people all over the world." They anticipate customer needs and offer

exceptional products and services that help people live better lives. Ford Motor

Company has long been and continues to be recognized as the king of automotive

innovation. Their research and development department, as well as their invention of

interchangeable parts in moving assembly lines, have resulted in a remarkable global

expansion for them. They have a long history of dominating and continuing to do so in

the global car industry.

Ford Motor Company suffered losses as a result of bad business planning

decisions by management, stopping them from collaborating with other automakers.

Low sales and revenue losses are having an effect on the business. They trying to

escape financial hardships, the world was still in the midst of a financial crisis due to

unanticipated economic developments at the time. The suggested solutions for Ford

Motor Company are focused on the company's primary concern.

In order to solve financial problems, Ford Motor Company is shifting focus to

rising country's economies and manufacturing cars based on income levels. To increase

revenue and minimize general and operating expenses, studying the target market and

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gaining detailed understanding of economic surroundings, establishing distribution

channel, as well as marketing and advertising.

STATEMENT OF THE PROBLEM


Ford is one of the top three automakers in the United States. In an attempt to

succeed in the foreign and expand into new markets, the major automakers tightened

the automotive market in the 1970s due to competition from international suppliers such

as Toyota and Honda. Due to the global economic crisis and a drop in market demand

for new cars, Ford Motor Company's production in 2008 was lower than in 2007 and

2006. And the continuous competition in the market with the major competitors like

General Motors, Toyota and Chrysler, making the company in some kind of

disadvantage.

There are issues regarding the leadership and strategy style which Ford Motor

Company is lacking. Overcoming failure is a short-term problem and can be resolved

with proper leadership and arrangement of operations. On the other hand, it is long-term

problems is it is billions of loans, debts and goodwill that will take years to be paid off

since they have weak sales in the recent years. “Poor markets are an important outlet

for global innovation and for sustainable solutions, business models, and developments

that can operate through developed and emerging markets,” Boscor and Bratucu (2010)

concluded. Ford Motor Company struggled to effectively manage the opportunity, and,

as a result, the global car plan never accomplished the goal it set out to achieve.

Ford Motor Company is also in financially trouble due to a large number of loans

and debts, Ford Motor Company is still paying off a large government loan created at

the start of the Great Recession to help automakers with factory ventures, more than a
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decade after the last economic crisis. During the auto crisis that ravaged the industry

between 2008 and 2010, critics concentrated on GM and Chrysler, which both declared

bankruptcy and accepted government bailout loans through the US Treasury

Department's Troubled Asset Relief Program (TARP) to reorganize. Ford, on the other

hand, chose a different direction. But in the end, it accepted a government loan, too.

Ford believes that, despite measures taken to reduce health-care costs, the

company's costs will continue to grow for the near future. Foreign automakers, on

average, have lower healthcare and labor costs than Ford, GM, and Daimler Chrysler,

giving them an advantage. Ford seems unable to work with other automobile

manufacturers. Ford Motor Company is hoping to take steps to offset the costs of

employee benefits; however, this could also lead to negative publicity for the company.

Foreign auto makers are able to maintain lower costs with non-unionized and on

average, younger employees.

Ford’s suffering from low sales and a loss of revenue, Because of its higher cost

structure and decreased demand for automobiles, Ford faced a labor surplus. Despite

the fact that there was no work for all workers in the company, Ford paid all employees

a wage and other benefits, even if they were not contributing or involved in the

production. Due to a fall in Ford car sales, they had a surplus in their workforce.

Furthermore, they were unable to afford to pay any of the employees' salaries. They

had to bear financial losses as well.

This study evaluates Ford Motor Company's history and current issues in shifting

economic conditions, as well as issues regarding the plan of actions they believe will

4|Page
have a significant impact on their ability to expand, and which have some types of

problems that they are facing.

CAUSES OF THE PROBLEM

This section covers Ford Motor Company’s causes of the problem that

encountered to the study.

Automotive industry is a fast-paced industry with many advancements as far as

its huge potential is concerned. Automobiles are very important in today's society. They

are a means of transportation and also luxury. Each and every year they come more

efficient and technically advanced for the consumers’ personal use. A company that has

been around since the first production of cars is the Ford Motor Company. Ever since,

its business operated mostly in manufacturing automobiles and other motorized

vehicles. The company is also involved in marketing and other financial services. In

some other part, it is inevitable to have problems and issues that are involve with it.

There changed into a fast decline within side the production automobiles in US

marketplace at some point of 2005 which had negative consequences at the agency.

Factors which pulled down the call for are sluggish monetary boom geo-political events,

fee of fuels price of credit score and price of buying observed through the exceptional

recession of 2008. Improper integration of global and home operations of the

organization became the subsequent largest hassle. Increasing opposition in US

marketplace with extra participation and with alternate in desire of clients created a

primary trouble which aren’t worthwhile are different predominant troubles confronted

through the organization. More than a decade after the final monetary crisis, Ford

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motors corporation nonetheless paying down a fat’s authorities mortgage created

through congress at begin of the splendid recession to resource automaker with

manufacturing unit project. Ford is one in all the maximum iconic automakers in

America, however because the Great Recession showed, it’s now no longer too

massive to fail. There are many things which could reason the agency issues withinside

the future, and Ford is privy to lots of them. Here are multiple the largest threat

elements that Ford is facing, in accordance with its annual report. Here are the four key

headwinds holding things back: Weak earning, weak guidance, weak sale and Union

Talks. Ford inventory has entered an unfastened fall, touching 11-yr lows. The

corporation suggested losses in Q4 profits and become simplest capable of pay

dividends due to its economic arm. Steeply growing car mortgage delinquencies and a

vulnerable enterprise outlook will push Ford Motor Company into bankruptcy. Ford

Motors faces a number of strategic management challenges that needs to be addressed

if there has to be any success for the turnaround to succeed.

One problem that Ford Motor Company faced is the Ford seems unable to work

with other automobile manufacturers because some foreign automakers have lower

healthcare and labor costs on average than Ford, GM, and Daimler Chrysler, giving

them a competitive edge. According to StudyMode Research “A major risk or concern

for North American auto makers is the employee's health care expenses. For Ford, in

2006 their health care expenses for U.S. employees and dependents were $3.1 billion,

and with $1.8 of that in postretirement health care.” Despite measures taken to reduce

health-care costs, Ford believes that the cost to the business will continue to increase in

the near future.

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The 2008 Global Financial Crisis is generally regarded as one of the worst

financial crises since the Great Depression of the 1930s. The 2008 financial crisis

resulted in the failure of many major financial institutions, national government bailouts

of numerous banks, and worldwide stock market declines. This crisis also led to a global

recession and contributed to the European sovereign-debt crisis. Ford Motor Company

is in financial trouble due to a large number of loans in government and cause debts

including its obligations to retirees. Ford Motor Company had financially trouble and still

paying a government loan because they took out loans to fund automobile project

design in order to aid automobiles produced in the United States. In an article

mentioned by Phoebe Wall Howard (2020), “In September 2009, Ford entered into an

agreement with the Department of Energy and borrowed $5.9 billion as part of a loan

program created to finance automotive projects designed to help vehicles built in the

U.S. meet higher mileage requirements and lessen U.S. dependence on foreign oil.”

Although critics of government assistance, including Ford executives, continue to

concentrate on government bailouts, few have discussed in recent years the loan

program that gave out money specifically to help automakers during the same time

span.

Ford has been going through some tough times over the past few years. The

company's market share in the automobile industry is shrinking, and its cost structure is

contributing to financial losses. Ford lost $12.6 billion in 2006. Ford fared better in 2007,

with losses of just $2.7 billion. Ford's market share, on the other hand, begins to

dwindle. In 2007, its share was 14.8%--down from 26% in the 1990s. Ford is suffering

from low sales and a loss of revenue because of the contribution factors to Ford’s

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Large-Scale Labor Surplus and it went through that the company suffered from the labor

surplus and it is because of high-cost structure and decreased in the demand of

automobile. Ford's demand for automobiles had plummeted to the point that the

company couldn't afford to manufacture more. Profits plummeted, and they were forced

to take on more debt. It also happens that the company are still paying salaries for their

employees and other benefits, but the company has no benefits, and it leads that the

labor cost has increased but the values added in the company by those employees

were decreased. According to Bartleby “Ford Company faced the labor surplus because

of its high-cost structure and decreased in the demand of automobile. There was no

work for all employees in the company, but the ford paid salary and other benefit to all

employee even there are not contributing and involving in the production. As there was

decrease in sales of Ford automobile, they had surplus in their work force. Moreover,

they were unable to afford to keep all the employing paying their salary. They also had

to bear financial loss.” Ford has concluded that smaller is better—and necessary—to

achieve long-term success in the automotive industry, in order to balance its production

with demand for its goods and resolve concerns about its high labor costs.

Ford has weak leadership and policies in the face of changing economic

conditions and it leads many problems like overcoming failure and having billion of

loans, debt, and obligations that will take years to pay it off since they have low sales.

Over the years, the Ford Motor Company has faced a variety of obstacles that have put

its long-term viability in the highly competitive automotive industry to the test. In 2006,

the company was on the brink of bankruptcy, with an impending loss of $12.7 billion due

to management inefficiencies and a poor vehicle lineup. The company's ability to

8|Page
maintain its second place as the automobile sector with the highest sales in the United

States was threatened by a weak financial trend triggered by poor management.

According to Hanawalt & Rouse (2010) “In 2006, Ford was about to make a loss of

$12.7 billion before the leadership of its new CEO, Alan Mulally, rescued the American

automaker. Earlier, the company experienced poor leadership, owing to the family

approach to running the multinational company. The leadership of the new CEO

accounted for the revitalization of the company since it edged its competition with

Toyota. Interestingly, the company realized profits exceeding $6 billion in 2010 amid the

global financial crisis that affected economies between 2007 and 2008.” Further, a few

years before 2006, Ford adopted an unhealthy culture characterized by conflicts

between executives. The executives engaged in turf wars while in meetings, thereby

failing to reach decisions concerning key issues that affect the performance of the

company. The executives disregarded the essence of realizing decisions in meetings,

thus undermining the spirit of teamwork in the management of the company. Therefore,

the decision-making crisis contributed to Ford’s poor financial performance in 2006.

DECISIONS CRITERIA AND ALTERNATIVE SOLUTIONS

This part pertains about the decision criteria and alternative solutions for the

problem facing by the Ford Motor Company.

The Ford Motor Company is one in all the most important car corporations

withinside the world, with a record of extra than one hundred years. The agency has

effectively negotiated thru numerous troughs and crests in its checkered past. The case

recounts a number of the restructuring efforts made through the agency withinside the

9|Page
Nineties and 2000s. It then discusses the 'One Ford' approach in element and presents

data on how the approach changed into applied among 2006 and 2012. The case ends

with a short dialogue on destiny possibilities for the organization. Strategy

Implementation, Restructuring, Organization structure, Globalization, ‘One Ford’

strategy, ‘Way Forward’ plan, Global Growth Plan, Global product strategy, One Ford

Global Product Development System, Business models, Financing, Capacity alignment,

Auto industry, Emerging markets, Recession. Since every area become running as a

separate organization, that they'd their very own production turning processes, product

improvement systems, suppliers, etc. This shape could have made feel all through the

preliminary ranges’ automobile enterprise while transportation, conversation and

different infrastructures have been now no longer developed. But persevering with to

perform withinside the identical way even after the trends in verbal exchange and

infrastructure brought about inefficient and needless duplication of work. For an

organization as huge as Ford, the employer had additionally did not recognize the

advantages of scale that might were made to be had through going global.

Ford Motor Company seems unable to work with other automobile

manufacturers. In that case, Ford must have manufacturing innovation because it has

an impact in every aspect of the manufacturing businesses, from design, research and

development, production, supply chain and logistics management through to sales,

marketing and even end of life management. These innovations will create highly

intelligent, information-driven factories and distributed business models that can

respond rapidly to change and deliver entirely new customized smart products and

services. According to Nibusiness Info, “Innovation in manufacturing can take many

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forms, from new technology and changes in the supply chain to product and process

improvements. Innovation offers many important advantages to businesses and is often

key to outperforming the competition.” The next possible solution is that Ford should

implement new strategy. To increase the effectiveness of new business ideas, you need

to have efficient business implementation strategies. George N. Root III stated that

“Formulating creative business ideas does you little good if you do not have a plan in

place to properly execute them. In addition, a business's organizational structure is

strengthened when management spends time analyzing different ways to efficiently put

new plans into place.” Analyzing your current marketing and sales strategy to implement

new strategies for boosting conversion will have a very positive effect on your revenue

stream.

Running a business comes with a significant number of obligations and concerns

for the owner, but one of the most frequent issues relates to financing problems. Ford

Motor Company is in financial trouble due to a large number of loans and debts. With

the business world being more dynamic and fast-paced than ever before, it's all too

common for unforeseen gaps to appear in the budgeting and corporate strategy

execution. When such financial losses arise, there are things you can take to help you

manage them and retain your market position. One solution is the Cash Flow. Plan

when and where your cash will be coming from for the next quarter, to ensure you have

contingencies in place for more pressing payments. If you are struggling to pay those

prioritized, finding alternative lenders could be the boost you need to get you out of this

cash slump. According to the Business 2 Community (2017) “Getting a short-term loan,

to get your feet back on the ground can provide some support and stability to the

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company’s financial structure whilst you work all your efforts on making improvements

to prevent this situation from reoccurring.” Next solution is the organize and prioritize

payments. Differentiate between the essential and less important costs over the next

quarter, this will allow you to project where you need to be injecting your cash flow.

According to the Business 2 Community (2017) “Start by cutting any unnecessary

expenses eating into your budget, these are key issues to business’ routinely

overspending as you will be surprised at how much you are spending on operations

when you take a closer look.” Revise ways that you can be more cost savvy with

expenditure whether it is looking at more efficient, low-cost transportation, delaying

replacements of equipment or requesting extensions from your suppliers until you have

turned your financial instability around.

Ford is suffering from low sales and a loss of revenue. So, the possible solution

is that it should develop strategies to grow them, without increasing costs. Making your

business more profitable involves looking at ways to increase sales revenue as well as

decreasing your costs and benchmarking your business to see where you can save

money. The one solution to improve the low sales and loss of revenue that Ford have is

to have strategy to increase sales revenue and it is the Increase productivity of your

staff. Recognize and reward staff contributions with staff performance reviews and

teach them sales skills and how to upsell products so customers make multiple

purchases at one time. Ellie Collier (2018) stated that “If your workforce is productive

and dedicated to their work, both the quality and quantity of their work will improve. This

means a greater output and you will achieve your goals as a result.” The other one

solution that has been issued of the Ford where they have been become low sales and

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have a loss of revenue is to have strategies to decrease cost which is the decrease

indirect cost. Try to minimize waste and errors in the business by training staff or reduce

marketing costs by using low-cost marketing techniques.

Leadership is an important function of management which helps an individual or

a business to maximize efficiency and to achieve goals. Most commonly, leadership is

defined as influence, that is, the art of influencing people so that they will strive willingly

and enthusiastically toward the achievement of group goals. Ford has weak leadership

and policies in the face of changing economic conditions. The one solution is that you

should know how to trust your employees. The best approach is not to micromanage

every detail of what has to be done but to focus on specific outcomes and trusting your

team to follow through. Having periodic checkups is best to ensure progress is being

made, rather than wanting to be on every single email or requiring your team to provide

daily status reports. Heather Monahan stated that, "Deciding to share key pieces of

information and watching how your team manages the information is a good recipe for

building companywide trust." Next solution is to have clear expectations. Employees

would rather be instructed on what to do than be left with questions and uncertainty.

Providing directions and outlining missions will motivate your team and keep them on

track. According to Freschi "When a leader does not set expectations, their direct

reports often limp through their day with no clear direction. Direct reports want to be

productive; they want to know their work has meaning and is contributing to a bigger

picture. Without expectations or goals, they are not able to prioritize the workload."

While it's important to trust your workers with their tasks, this doesn't mean you

shouldn't delegate assignments and highlight objectives to get the ball rolling. Leaders

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should set individual goals for workers and explain how they align with the broader work

of the organization.

RECOMMENDED SOLUTIONS, IMPLEMENTATION AND JUSTIFICATION

This segment gives recommended solutions, implementation and justification for

the Ford Motor Company.

The company is one of the world's oldest and largest manufacturers and

distributors of automobiles and auto parts. Even though the company is doing well in the

market, there are a few suggestions that can be implemented to ensure the company's

long-term success. From its core product lines, the company offers a variety of services,

such as insurance and financing, that are beneficial to customers. Base on the industry

and company analysis, some suggestions have been provided which can be applied for

the next 5 years as part of strategic plan management.

To reach a larger and more diverse audience, social media marketing is rapidly

becoming the primary form of communication. Even though the organization uses a

popular social media site, other means of communication, such as blogging, can be

expanded to reach a larger audience. The reasoning behind this is that people are

becoming more reliant on bloggers, so Ford can find someone with a large following

and pay them to promote their product on the website.

Ford needs to expand its market operations in emerging economies in Africa,

Middle East, and Asia so as to reduce over reliance of the U.S market. This would

expand its market share and meet new demand in new market segments. The company

needs to diversify its products to meet the demands and expectations of consumers in
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the 21st century. Ford needs to carry out market and consumer demand research to

determine the major emerging market trends and patterns. Product diversification can

be achieved through the production of more fuel efficient and environmentally clean

cars which are small in size.

This would meet the demand in the new segment of environmentally sustainable

and green fuel motor vehicles. Ford can adopt the strategy adopted by Toyota of

producing a variety of cars annually which fit different market segments. For example, it

can design cars that meet the income capacity of consumers in developing nations.

Ford must execute the ‘One Ford’ vision and continue to differentiate itself from

its competitors even as the economic crisis unfolds. The failure of ‘One Ford’ or the

Ford Fiesta model would be disastrous for the company. In recent years, Ford has

redeveloped a coherent corporate strategy. Ford has avoided the need for government

funding because of its timely financing and strategic proactiveness. It is critical,

however, to continue these positive trends with the end goal being global profitability

and recapturing market share. Ford should not lose sight of the bigger picture while

attempting to capitalize on GM and Chrysler’s current weakness.

In addition to the short-term recommendations highlighted above, we believe it is

critical that Ford continue to prepare and execute longer term growth strategies. Ford’s

viability hinges on its ability to successfully differentiate itself from its competitors, both

through price and quality. We believe that the ‘One Ford’ vision currently being pursued

is a sound and cogent strategy, but it does have its risks. First and foremost, we are

concerned that the ‘One Ford’ strategy may be over-pursued. Regional product

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differentiation is necessary to ensure that products are sufficiently geared towards

disparate global preferences. Secondly, while we recognize management was under

significant pressure to affect change, Ford should never again stake so much of its

future on one line of vehicles. The Ford Fiesta “World Car” will determine the future of

Ford, and while early reactions and sales are positive Ford should create high end

equivalent to the Fiesta to capitalize on similar cost savings measures.

EXTERNAL SOURCING

This section contains some of the sources that will back-up the recommendation

or the issue of the Ford Motor Company.

Ford is one of the world's largest automakers, with a current market capitalization

of approximately $10.16 billion. However, the last five years have been particularly

unkind to shareholders of American automakers, with both General Motors and Ford

Motor Company's equity valuations plummeting precipitously. Ford stock closed at

$4.00 on April 17th, 2009, after trading above $14.00 per share in February of 2005.

Ford suffered record losses in 2008, depleting cash reserves at an unprecedented rate.

Ford will most likely continue to lose money through the 2009 fiscal year, and even

optimistic forecasts predict that the company will not return to profitability until 2011.

Ford Motor Company's sales are declining, which is one of the company's problems.
According to CNBC, in 2021, “Ford previously stated that it expected the shortage to
reduce its earnings by $1 billion to $2.5 billion.” Without providing new guidance, the
company stated that it "will provide an update on the financial impact of the
semiconductor shortage" when it reports first-quarter earnings on April 28. Due to a chip
shortage, Ford Motor Company is reducing production at several North American
plants.Ford needs to find a balance between high quality and low
price of products, on the one hand, it needs to positively understand what consumer
need, in addition to what the young needs, what the elderly and women need must also
be taken into consideration, actively integrating consumer demand into the production
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and service process of cars to create high-quality products that consumers need. Then,
it
can use its vertical integration strategy and other strategies to control the cost of
production of products, and through the use of advantages of its diverse business to
provide consumers with quality services in order to reduce consumers’ costs for car
purchase and use
Ford needs to find a balance between high quality and low
price of products, on the one hand, it needs to positively understand what consumer
need, in addition to what the young needs, what the elderly and women need must also
be taken into consideration, actively integrating consumer demand into the production
and service process of cars to create high-quality products that consumers need. Then,
it
can use its vertical integration strategy and other strategies to control the cost of
production of products, and through the use of advantages of its diverse business to
provide consumers with quality services in order to reduce consumers’ costs for car
purchase and use
Ford needs to find a balance between the high quality and low price of its products, on
the one hand, while also taking into consideration the needs of the consumers.
Ford has to find a balance between the needs of the consumers and the prices of

its products. It has to also consider the various factors that affect the quality of its

products. Then, they can use its vertical integration strategy and other strategies to

control the cost of production of products, and through the use of advantages of its

diverse business to provide consumers with quality services in order to reduce

consumers’ costs for car purchase and use.

When we compare Ford's revenue, we can see that the company's revenue is

decreasing or unstable over time. According to the website MacroTrends.Net, Ford's

revenue in 2016 is $151,800, and it will be $127,144 in 2020. We can see that Ford's

revenue is extremely volatile.

According to the findings, Ford Motors has built its goodwill in the global market

through the advancement of traditional technology and pioneering effects. In order to

meet customers' needs, the company has developed a fuel-efficient, hybrid-capable

electric motor and a gas-saving engine. In accordance with the recent worldwide report,
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it has been observed that Ford Motors is the 5th largest automaker in the global market

in terms of production, while the company has captured 2nd largest position in United

States market (Schmitt, 2011). In light of the above case scenario, it has been

determined that The Xerox 914 can be considered synonymous with consistency

evolution during the 1960s. It became a pioneer in the photocopier industry by

maintaining strong competitive advantages resulting from lower competition, increasing

consumer demands, and strong patents, as well as, most importantly, leadership with

the help of a quality. The emphasis on total quality management activities, including the

incorporation of all workers as a key quality policy, resulted in a slew of improvements in

organizational practices that can be correlated and used as a lesson by other

organizations (Evans & Lindsay, 2011).

Changes in Economic Conditions, on the other hand, have an impact on Ford's

production and revenue. The economy is a significant factor that influences a company

or business. Ford's operational planning recognizes the impact of the business cycle on

buyers' money management strategies. Shopper spending rises during expansion and

declines during slumps and downturns.

Ford's operational plans have been consistently impacted by government legal

policies. Ford was required to survey and review the compensation package of its top

executives through austerity measures such as reward suspension and leader travel

restrictions. On the legal front, the organization seeks to achieve the quality edges

established in global business sectors.

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