Ford Motor Company

Apply: Business Plan Assessment: Part 1 – Strategic Improvements
Using your analysis of the strategic plan from the Wk. 2- Strategic Plan Research assignment, complete the following:
Analyze in 350 to 525 words the:
o Purpose of the strategic plan
o Key objectives:
o Market development and how your ideas fit
o Process improvement
o Development of people
o Product/service – How do you deliver? Is there a way to improve quality over time to differentiate?
o Key performance indicators (KPIs) to measure performance over time

Recommend initiatives to support your objectives to improve the strategic plan.

Identify ways to adapt to the changing business environment.

Submit your assignment.

ANSWER

Ford Motor Company

Purpose of the Strategic Plan

Ford Motors is strategic plan is focusing on developing smart cars for a smart world to become the global leader and most trusted mobility firm. The purpose of the strategic plan is to facilitate the growth and presence of the brand in the automotive market. Ford will focus on investing in growth areas that will restructure the global mobility business such as reducing emissions, improving quality and developing more solutions such as self-driving vehicles and electric cars. The strategic plan will allow product development, market penetration and market development accelerating introduction to smart vehicles, connected cars and services that customer want and value.

Key Objectives

• To move into a progressive era through environmental efforts and social responsibility, and fuel efficiency.
• To advance through creative and inventive production methods and types of cars.
• To be at the forefront of changing the market and future of transportation.

Market Development

The strategic plan is linked to market development as one of the ways through which Ford will increase their global presence and increase the existing customer base. Market development will aim at promoting the existing products in new markets. The Market development approaches will include launching new models that target the new markets and establish production units in those markets to expand their production capabilities.

Process improvement

Ford is focusing on creative and innovative production methods that will improve the types of cars and meet the consumer needs and wants (Arroyo, 2019). Ford has moved into a progressive era through environmental efforts and social responsibility including fuel efficiency, turbocharged Eco-Boost line of engines as well as hybrid vehicle innovations.

Development of People

Ford has people strategy that focuses on engagement, development and satisfaction of employees. The company has developed a talent management process that aims at fostering a flexible and safe working environment where people are respected and valued for their positions in the company (Langerud and Jordan, 2020). Ford uses procedures and policies for its performance management through focusing on employee engagement, employee satisfaction, talent development and leadership.

Product/Service

Ford is focusing on creative and inventive production methods that rely on advanced technologies and research. Ford believes that these techniques and initiatives will improve their car quality over time and create a differentiation in the market. Ford product differentiation strategy has aimed at lowering the production costs and maintaining a better product quality.

Key Performance Indicators (KPIs)

The key performance indicators that will be used to gauge the overall performance over time include financial, strategic and operational achievements compared to the strategic objectives. The intended result is to become a global leader in developing smart vehicles for a smart world. The key performance indicators will be used to set the targets and track progress for operational and strategic improvement.

Recommended Initiatives

Ford needs to focus on production capabilities to match with the major players in the global market. Considerably, production capabilities are the foundation for investment and development of innovation to facilitate improvement and product modification. Increasing the dealerships and sales will allow current consumers to grow and develop the business.

References

Arroyo, D. (2019). Ford and the New Auto Industry.

Langerud, D. H., & Jordan, P. J. (2020). Leadership and change at Ford Motor Company. In Case of Studies in Work, Employment and Human Resource Management. Edward Elgar Publishing.

Verbaan, R. (2018). The Transformation of Ford Motor Company: A strategy to improve urban mobility with autonomous vehicles.