The paper "Strategic Management of Ford Motor Company " is a wonderful example of an assignment on management. Investigate the possible vision and mission statements of the company. A possible mission statement of the company is “ to maximize shareholder value by manufacturing and distributing automobiles that cater to a variety of consumer needs and wants globally with the option of providing financing to both distributors and consumers. ” A possible vision statement is “ to be a consistently profitable automaker that assures customers of best-in-class but affordable vehicles. ” Analyze if the mission and vision are good and aligned to its goals and objectives.
The mission statement is good because it focuses on what Ford aims to achieve through its day-to-day activities, which is to give maximal returns to its owners by performing its core business of making and selling vehicles to different consumer segments globally. The vision statement is also good because it shows the company’ s aspirations for the future: to give its customers the best vehicles as per the standards at that moment in time and to remain profitable while doing so.
If you are the CEO of the company, develop your own version of a better vision and mission, by incorporating the theories you learn in class. Vision: To consistently be a profitable company that guarantees world-class products and services. Mission: To manufacture, distribute and sell a broad-category of energy-efficient vehicles, with the option of providing financing to our customers, while ensuring that we consistently deliver maximal value to our stakeholders. Discuss the current strategies of the company highlighted in the article. Ford is pursuing a three-pronged strategy: entry into the alternative-fuel vehicle (AFV) market, market penetration in the small and medium-sized car segment and divestment.
Increased participation in the AFV market is vital because it allows Ford to: fulfill the increasing consumer and federal government demand for green energy and environmental sustainability, and to develop new competencies that could be leveraged to produce more fuel-efficient vehicles. With consumers at its key markets going through an economic squeeze, the small and medium-sized car segment has become one of the biggest segments of the auto market (Badal, 2011). For this reason, it is only prudent that Ford leverages its brand strength to gain market share in this growing market segment.
Finally, Ford is in financial trouble and divesting from businesses where it sees little potential for future growth will not only help improve its books but also enable it to restructure its business.