Week 2 Discussion Board
First, read the summary on Ford Motor Company and watch the linked videos below. Then in your DB entry, share your perspective with the class on the following questions:
- How have Ford’s strategy choices strengthened or weakened its position in the global automobile industry?
- What do you see as the 3-4 top priority issues for CEO Jim Hackett and his management team to address?
Week 2 Discussion: Ford Motor Company
There is no doubt in saying that the Ford Motor Company had followed a verified plan to stand at the top of the motor companies across the world’s automobile industry. Hence, the company has never gotten a weakened position, instead, it keeps getting strengthened again and again. The management at Ford is using separate procedures for doing its various tasks which target the two market sections that foster the marketing mix for all fragments. The company is intended to fulfill different necessities for vehicles in the economy. The company’s managers are using horizontal expansion strategies to bring new products into the business. It is knowns as the riding hailing company and therefore must recognize a suitable partner for their dynamic shuttle (Business Essays, 2022). Therefore, the company can be able to gain quick access to various new technologies like route algorithms and user-friendly mobile applications. On the other hand, by using the horizontal strategy, the company can be able to help its partners in boosting operations and offering the new product line while keeping the capital investment moderate. Ford motor company by vertical expansion can be able to integrate the pre-existing company with the current business model.
The priority issue which Jim Hackett and the management team of Ford needed to access are that the company had failed to clarify its coherent strategy. The company had decided and placed a long vision that encompasses all the management choices, however unable to design intelligent and connected vehicles during the restructuring of its weak products. The next issue that Ford needs to address is that the organization needs to make sure that the CEO does not include organizational property in gambling (Bradt, 2020). This mistake happened with Jim Hackett who ended up steel casing and losing the office furniture while gambling the organization should not adopt the management team who promises to restructure the organizational products and then paralyze it by melting out the job cuts and business strategies.
References
Business essays (2022). Ford Motor Company’s Competitive Advantage and Future. Retrieved on 24th August 2022, from: https://business-essay.com/ford-motor-companys-competitive-advantage-and-future/
Bradt, G. (2020). What You Must Learn From Jim Hackett’s Failure As Ford’s CEO? Retrieved on 24th August 20922, from: https://www.forbes.com/sites/georgebradt/2020/08/04/what-you-must-learn-from-jim-hacketts-failure-as-fords-ceo/
