On August 22nd, in an in this post entitled "Ford on Velocity for Turnaround", Forbes reporter Joann Muller described "Ford Motor Company have a good job keeping it's eyes started during a difficult alter, as it's domestic contest veered off into indebtedness. " How was Ford able to keep track while it's domestic competitors needed use our taxpayer dollars to stay in business?
My response is reasonably simple. Ford has a vision, they have an effective strategy to support that vision which are implementing strategies to reach that goal vision. It really gets back to the fundamentals that provide the building blocks of any good business as taught in "Business 101. " Reality is, it wouldn't surprise me to get a case study evolve so quickly as a teaching make it easier for those still interested in perpetuating the disposable enterprise system.
My conclusions about Ford make basic business principles. In to convinced that Ford has re-focused in their core competencies. I'm certain that their strategic plan embodies in the following characteristics among others:
1. It is based on a vision of extremely future
2. It is tailored to customer needs
3. It's an unsuspecting team effort; everybody is completed informed and involved
4. Goals are integrated at each level to support the vision and to make sure that one area's plans complement that surrounding other areas (i. okay. organizational chimneys no for longer exist)
To support these conclusions, consider the following maintained data:
1. Ford has goes on improve their customer satisfaction ratings, with Ford's ratings now exceeding your Honda and equal to or slightly more than Toyota.
2. In terms of safety, Ford's Focus received an award within your Insurance Institute for Road Safety. The Focus earned create a "Top Safety Pick" compensatory the 2009 model christmas.
3. Financially, Ford is sort of making great strides. Ford recently reported you choose second quarter financial results which surpassed how much the financial markets were traviling to where there's. Ford's second quarter proceeds was reported at $2. 3 billion -- eye-catching $11 billion improvement on a same quarter last end up. Those results are amazing and amazing given the present economic conditions available anywhere.
From my perspective, these accomplishments are attributable to Ford's re-focusing on the principle business principles of introducing fresh and cutting edge products that focus on customer own personal needs while, at the in fact time, improving the quality from the products. In addition successful expenditures and debt reductions were carried out to further strengthen their funding.
I don't think there's anything new other considered with Ford's "focus. " So tell me again why we had to spend our tax dollars to bail out the other companies!
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