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Engineering and Construction
Pages 3 (753 words)
Name: Instructor: Task: Date: Total Cost Minimization: Ford Company Ford Company is a US based automobile manufacturing company, incorporated in June 16 1903. This essay paper provides a detailed discussion about information gathering, individual and teamwork, written communication skills, communication tools, professionalism, relationship, economics and project management in relation to Ford Company and its bid to minimize its total cost (Banham, Russ & Newman 3) 3.
Internal investigations are done to resolve challenges or avoid moral hazards. This has helped Ford company avoid substantial legal and financial costs. A poorly done internal investigation could lead to negative effects such as negative publicity, distraction of employees from their work, a leeway to moral hazards among employees and negative impact on employee morale. These negative effects will create unnecessary costs. The company has been thorough when it comes to internal investigation and corrective measures, and has managed to reduce the costs related to the mentioned effects. Prior to engaging in any investigation, the technical team select among the alternatives methods, the cheapest and most effective, to reduce costs involve (Banham, Russ & Newman 24) 6. Individual and teamwork 6b. Individual and teamwork Working as an individual is beneficial amongst few persons who are productive when doing a task as an individual. However, Teamwork is fundamental for entrepreneurs. Henry Ford, the founder of Ford Company was a great achiever because he believed in teamwork. In 1947 Ford Henry said that working together eventually boosts success. ...
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