Notably, Ford Motor Company an American multinational company that was established by Henry ford in the year 1903. It is one of the best producers of automobile. It actually operates in two market segments namely financial services and automotive. The company produces trucks and cars. Its products are distributed in the entire world.
Mission Statement for Ford Motor Company
Certainly, every organization in the world has a distinctive reason and purpose for being. The distinctiveness should be reflected in mission and vision statement. In most cases the vision and mission represent competitive disadvantage and advantage of the company. The mission statement of ford motor company is to be a global family with proud legacy that is avidly committed in provision of personal mobility of people around the globe. Its mission statement is divide into sections; one mission, one team, one plan and one goal.
Do you think the mission statement is appropriate & well stated? Support your answer.
Actually, the mission statement is well stated and appropriate. The company has gone global, and serves the mobility of people in the world. The company too is focused to working as a team. This include dealers, investors, suppliers, employees as well as customers, they all work as a family. (Tucker,13). Additionally ford is focused to its plan; this is trough its production and introduction of new make. Finally, the company achieves its one goal by delivering profitable development and growth.
SWOT analysis of the company entails examining its weakness, strengths threats, and opportunities. The strengths of ford have enabled it to go global and be successful. Ford is the founder of large scale management methods as well as large scale manufacturer of trucks and cars. Presently, Ford Motors is the second largest automobile manufacturer in U.S and fourth largest in the world. As a matter of fact Ford became the third biggest automobile producer in Europe. Additionally, the company has gone global; which makes them be among the best companies in the automobile industries globally. This analysis is mostly based on annual production and global revenues earned. (Tucker, 17)
Ford company faced a lot of challenges in the fiscal year 2008-2009; its revenue reduced by 19%. The company in some occasions had to recollect some of its automobiles due to engine fire. This exposed the consumers into safety risks and ruined the global icon of the company. Furthermore, the market share of ford company declined continuously recently in U.S. To some extent the company is unable to respond to competition from other manufacturers especially from Japan and Europe. Finally, the payment of debt that was borrowed in the year 2006-2007 is an obstacle to the company’s progress.
With the global financial crisis and inflation in oil products, the company has a chance to produce smaller, higher-quality and fuel-efficient models that would attract customers. The company benefits from the decrease of taxes by Chinese government and decreases in interest rates on automobiles. As technology advances, ford need to adopt it so as to produce advanced automobiles capable of meeting emission and economic standards. Above all the company will benefit through shifting its manufacturing to those nations where both material and labor cost is low (Tucker, 12)
The crisis that took place recently in the automobile sector was a blow; hence it is difficult for them to recover. The ongoing global economic crisis has led to a decrease in the wealth of consumer. In addition, other companies in the world have implemented new and effective marketing strategies. Due to increases in oil prices, consumers have shifted to high-quality and fuel efficient vehicles. Environmental issues have become sensitive because of the global warming; hence automobile industries are force to produce vehicles that does not pollute the environment.
Management leadership style predominantly
Ford Company has always embraced precise leadership and effective management. The company appoints qualified leaders and managers. The company employs democratic style of management and leadership. Bill ford himself demonstrates democratic leadership in the company. Ford being the leader is a good listener and a follow when it comes to important opinions from other managers (Cascio, 18).
Is the company tall or flat?
Certainly, with the achievements and the existence of the company since 1900 tell a lot about its tallness in the automobile industry. Since its establishment, Ford motor company has remained competitive as well as profitable.
Does your company primarily provide products, services, or a combination of both?
Ford Company provides both service and products. The automotive sector provides vehicles under Lincoln and Ford brands. It sells trucks, cars, and spare parts. On the other hand it provides financial services through FMCC (Ford Motor Credit Company). Quality care, quick lane, and motor craft always provide services to customers. Services include after sale service, retail financing and automotive financing.
Cascio, W. Guide to Responsible Restructuring. London. Diane Press.2005.
Tucker, M. Henry Ford. New York. Wiley. 2003.