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Ford Company - Essay Example

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Ford Company

hnical Excellence Know and have a passion for our business and our customers Demonstrate and build functional and technical excellence Ensure process discipline Have a continuous improvement philosophy and practice Own Working Together Believe in skilled and motivated people working together Include everyone; respect, listen to, help and appreciate others Build strong relationships; be a team player; develop ourselves and others Communicate clearly, concisely and candidly Role Model Ford Values Show initiative, courage, integrity and good corporate citizenship Improve quality, safety and sustainability Have a can do, find a way attitude and emotional resilience Enjoy the journey and each other; have fun – never at others’ expense Deliver results Deal positively with our business realities; develop compelling and comprehensive plans while keeping an enterprise view. Set high expectations and inspire others. Make sound decisions using facts and data Hold ourselves and others responsible and accountable for delivering results and satisfying our customers. Business objectives Nonfinancial Goals 1. Retain spot as global market leader with over 100 plants and 280,000 employees worldwide. 2. Sustain profitability and rank as Number 1 US auto company. 3. Introduce 2013 Hybrid Edge into Chinese, European and US markets 4. Enter and increase manufacturing in India to lower plant costs 5. Build efficiency through better logistics, distribution and control 6. Succeed at all implementation factors 7. Build awareness and increase sales of all Ford Hybrid automobiles Financial Goals 1. Increase market share from 16.7% of the market to 20% by 2013 2. By 2013 Ford hybrid sales should increase over 100% (in 2009, Ford hybrid sales increased 73%) 3. Sustain 50% increase of new car sales through 2013 (Ford increased new car sales of 40% on April 1, 2010) 4. Push industry hybrid sales to increase 10% annually 5. Ford Hybrid Edge and Fusion to see sales of 100,000 vehicles in each market by 2013. External and market analysis Porter’s 5 Forces Analysis Supplier Power – Medium Mass production – high volume No forward integration High cost compared to total purchase in industry Low/no switching costs Buyer Power – Medium Consumer has some bargaining leverage Available substitutes Price sensitivity is common for Ford (no price sensitivity for BMW and high end brands) Low volume; cars are investments; people don’t usually buy multiples Barriers to Entry – Medium Difficulty entering into established industry Currently numerous options for automobile customers Threat of Substitutes – High Plenty of options in the car industry Dependent on price performance Dependent on customer loyalty Rivalry – High Brand identity and equity Differentiation between competitors Hybrid market growing Industry is at maturity Company’s strategic marketing SWOT Analysis Strengths Wide geographic presence Brand reputation Strong portfolio of quality products Weaknesses Product recall Declining operating margin Declining market share ...Show more

Summary

FORD Company The Ford Motor Company was founded in 1903 by Henry Ford, who envisioned cars as being an affordable item rather than a luxury. The key to the company’s success was its revolutionary strategy of mass production, technological advances, supply chain design, and most importantly the changes in lifestyle…
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