Ford Motor Company

Apply: Business Plan Assessment: Part 2 – Pitching the Plan

Using your approved strategic plan from the Wk 2 – Strategic Plan Research assignment, complete the following:

Create a 5- to 7- slide Microsoft® PowerPoint® presentation, with speaker notes and visuals on each slide, that will sell your identified improvements to the strategic plan, based on your Wk 4 analysis.

Include the following:
o Summarize the threats and challenges you have identified within the current strategic plan.
o Determine how to execute the strategic initiatives in order to address the threats and challenges.
o Explain proposed process improvements.
o Assess whether additional resources are needed.
o Describe how resources should be used in the application of the strategic plan.
o Utilize KPIs to justify the financial investment and to measure the success of the proposed improvements to the strategic plan.
o Justify your recommendations based on anticipated Return on Investment (ROI).

Submit your assignment.

ANSWER

Ford Motor Company

Ford Motor Company

Purpose of the Strategic Plan

Ford Motor’s strategic plan focuses on developing smart cars 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 the introduction to smart vehicles and services that customers want and value.

Key Objectives

• To move into a progressive era through environmental efforts, social responsibility, and fuel efficiency.
• To advance through creative, 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 for Ford to increase their global presence and increase the existing customer base. The market development will aim at promoting the current 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 focuses 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, and hybrid vehicle innovations.

Development of People

Ford has a people strategy that focuses on engagement, development, and satisfaction of employees. The company has developed a talent management process that fosters 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 by 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 care quality over time and create a differentiation in the market. Ford’s product differentiation strategy has aimed at lowering production costs and maintaining better product quality.

Key Performance Indicators (KPIs)

The key performance indicators of Ford Motors’ 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. The key performance indicators will 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.