Ford Corporation Essay Example | Topics and Well Written Essays - 1000 words

Ford Corporation - Essay Example On the other hand, strategic management deals with identification and description of the strategies that mangers carry out to attain better performance and a competitive advantage for their corporation. A corporation is recognized to have a competitive advantage if its profitability is larger than average profitability for all corporations in its industry. That being said, this paper focuses on Ford Motor Corporation in terms of business policy and strategic management since the year 2006. Throughout the account of Ford Motor Corporation, inclusion has been the key part of the corporation’s success as exceptional products. Ford is a leader inclusion and diversity, and both remain chief Ford business strategies. Ford is recognized to sustain diversity at all ranks of the company, from the boardroom to design studio level, form plant levels to the engineering bodies. The corporation diversity makes Ford be a better corporation, a stronger organization, by bringing in new ideas, perspectives, life responsibilities, and experiences, and also by fostering a genuine collaborative workplace. Ford Motor Corporation sells and offers purchase financing all around the world. Ford had generally made a determination to exploit on potential economies of scale attainable from its size, until in the early 2008 when CEO Alan Mullay revealed One Ford turnaround strategy. The strategy involved the Global Product Development system; a process of sharing designs and improvement worldwide and between markets, with the objective of creating global process more effective. Advancing world has grown wealthier, and higher energy prices have globally gone up for better fuel economy (Crumm, & Thomas 231). Ford strategy anticipated developing less automobile models that can be sold worldwide with few changes: coined world cars. Ford’s plan was to develop more world cars with the aim of making a similar vehicle proving in all of its market across the globe. Despite declining go vernment bailout, Ford came out stronger, and as lean as its bankrupt competitors. Ford’s chief advantage was that the corporation was able to take the benefit of the lenient economic and political climate meant for bankrupt US automakers such as GM and Chrysler (Brown, & Williams 119). Ford took this benefit while it was functioning under neither condition (government influence and bankrupt). As an outcome, the corporation was able to divest non-core brands, slash capacity, reserve treasured tax assets, renegotiate healthcare, and cut debt. All this items were simpler to do with US government and United Auto Workers more compliant to reserve the company rather than dealing with another bankrupt auto builder (Hiraide, & Chakraborty 53). Coming out of the TARP era, Ford Motor Company distorted itself into an intense and highly levered bet on the retrieval of US light vehicles. Ford Motor Company anticipated that the US automobiles will not be the gas-guzzling vehicles that wer e manufactured by auto builders such as Hummer for GM. Ford placed itself to take on impending government of up surging MPG and market desire for smaller cars (â€Å"2002 Ford Thunderbird world debut†). However, other international brands, particularly Honda and Toyota Company had a head start as they did not agonies the structural disaster that the other Big Three Auto companies experienced in the past