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Swot analysis ford motor company 2018

04/12/2021 Client: muhammad11 Deadline: 2 Day

Executive Summary With Exhibits

Part 2: Summary and Outline

Orange Team

Christopher Ellerbe, Mark Sickinger, Hailey Childers, Jenny Morgan, Luis Rodriguez

Part 2: Summary and Outline
Grand Canyon University
Course: MGT 660-0500
Strategic Management
Wednesday, March 27, 2019
Instructor: Dr. Joseph Kennedy
CLC: Strategic Management Case Analysis Part 2: Summary and Outline

Summary and Outline of Findings

Based on the 12 steps to creating an Executive Summary, Ford has many strengths, weaknesses, opportunities, and threats both internally and externally as well as several objectives and strategies in the works. Below is a summary of each step:

· Step 1: Ford does not have a vision statement. The mission statement is to be One Ford, One team, One plan, and One goal. The objective is to become the world’s most trusted mobility company through sales, safety, research and innovation, and sustainability. The strategies in place involve reducing costs of products and new innovations such as higher engine outputs and increased safety features (Ford, 2018).

· Step 2: The new vision statement is Advancing the automotive industry through innovation and efficiency. The new mission statement is Ford Motor Company: Driving a greener future.

· Step 3: External opportunities include creating fuel efficient vehicles, expanding globally, consumer spending increase, increased demand of utility vehicles, and growth of the automotive industry. External threats include higher priced materials, changing gas prices, increased competition, and alternative modes of transportation (Rezwana, 2015).

· Step 4: Based on the Competitive Profile Matrix, Ford scores lowest, with GM second, and Toyota rating highest.

· Step 5: Based on the External Factor Evaluation, the total score is 2.22 which is an average score meaning the strategies of Ford are neither effective nor ineffective at defending threats and seizing opportunities.

· Step 6: Internal strengths include being known worldwide, loyal customers, constant innovation, employing a skilled workforce, and automating processes. Internal weaknesses include fighting the union, vehicle recalls, high attrition costs, lack of global marketing, and falling behind in the latest technology (Meyer, 2017; McKenzie, 2015).

· Step 7: Based on the Internal Factor Evaluation, the total score is 2.75 which is an average score meaning Ford is neither affective nor ineffective at defending internal threats and capitalizing on its strengths.

· Step 8: The SWOT analysis reveals that electric vehicles are the future of Ford. The Space analysis shows that Ford is competitive, Toyota is aggressive, and GM is defensive. The Boston Consulting Group analysis shows that the Fully Electric Mustang is a cash cow, the Fusion Hybrid and Focus Electric are dogs, and the F150 Ecoboost and Fusion Energi are question marks. The Internal-External analysis shows that both the F150 Ecoboost and the Fully Electric Mustang are at the top of the chart for internal and external factors, the Fusion Hybrid is strong internally but average externally, and the Fusion Energi and Focus Electric are average or slightly below both internally and externally. The Grand Strategy analysis reveals the Fully Electric Mustang has rapid market growth but no competitive position, the F150 Ecoboost has a strong competitive positive and slight market growth, the Fusion Hybrid has a strong competitive positive but slow market growth, and both the Focus Electric and Fusion Energi have a weak competitive position and slow market growth. The Quantitative Strategic Planning Matrix reveals strategy one is more appealing than strategy two.

· Step 9: Strategy one involves focusing on internal weaknesses as well as external opportunities, costing the company $5 billion over the next 3 years.

· Step 10: Strategy one can be implemented by better employee training, global marketing, and investing in research and development to attack both weaknesses internally as well as opportunities externally. This should occur over a three-year period with income substantially increasing in year 3.

· Step 11: The first-year objectives should include training all employees and coming up with three new vehicle designs. The second-year objectives include training all employees and the innovation department having blueprints and prototypes of the vehicles created. The third-year objectives include training all employees, vehicles going to market, and new designs being researched.

· Step 12: Strategy review needs to be done at the end of every year to determine if the steps taken are working or if the SWOT analysis reveals new strategy needs. The bottom line also needs to reviewed to determine if the vehicles created are profitable and selling globally as per the strategy.

References

David, F.R. & David, F.R. (2017). Strategic management: A competitive advantage approach

(16th ed.). Boston, MA: Prentice Hall.

Ford (2018). Ford Motor Company 2017 Annual Report

Ford (2019). Strategy and governance. Retrieved on March 12, 2019 from https://corporate.ford.com/microsites/sustainability-report-2017-18/strategy- governance/index.html

Ford.com. (2019). Ford Motor Company,. Retrieved from ford.com: https://www.ford.com/

Jurevicius, O. (2013). Competitive profile matrix (CPM). Strategic Management Insight.

Retrieved from https://www.strategicmanagementinsight.com/tools/competitive-profile

matrix-cpm.html

MarketWatch. (2019, March 26). Ford Motor Co. Retrieved from MarketWatch: https://www.marketwatch.com/investing/stock/f

Market Watch. (2019, March 26). General Motors Co. Retrieved from MarketWatch: https://www.marketwatch.com/investing/stock/gm

Market Watch. (2019, March 26). Toyota Motor Corp. ADR. Retrieved from MarketWatch: https://www.marketwatch.com/investing/stock/tm

Martinez, M. (2019, January 10). Why Ford is restructuring in Europe - again. Retrieved from https://www.autonews.com/blogs/why-ford-restructuring-europe-again

McKenzie, S. (2015, April 29). Rise of the robots: The evolution of Ford's assembly line. Retrieved from https://money.cnn.com/gallery/technology/2015/04/29/ford-factory-assembly-line-robots/index.html

Meyer, P. (2017, February 5). Ford Motor Company: Generic & Intensive Growth Strategies. Retrieved from http://panmore.com/ford-motor-company-generic-intensive-growth-strategies

Rezwana, Z. (2015). Strategy management of Ford motor companies. In. Retrieved from

https://www.slideshere.net/zrezwana/strategy-management-of-ford-motor-company

Ritson, M. (2010, August 13). What Marketers Can Learn From Ford. Retrieved from https://www.brandingstrategyinsider.com/2010/08/what-marketers-can-learn-from-ford.html#.XJmTvsJ7lPY

Rogers, C. (2015, September 30). UAW Gets Ready to Strike Ford's Truck Plant in Kansas City. Retrieved from https://www.wsj.com/articles/uaw-gets-ready-to-strike-fords-truck-plant-in-kansas-city-1443571908

SEC (2018). Form 10k: Ford Motor Company. Retrieved on March 12, 2019 from https://corporate.ford.com/microsites/sustainability-report-2017-18/doc/sr17-2017-form-10-k.pdf

Appendix

Step 1 Identify the firm’s existing vision, mission, objectives, and strategies.

Vision/Mission Statement

Ford’s vision is not explicitly defined. Because of this, the company relies on its mission statement to define the direction of the company. The mission statement outlines four important components: One Ford, One team, One plan, and One goal (Ford, 2018). As one Ford, the company commits to align employee efforts towards a common definition of success (Ford, 2018). As one team, the company shows that all stakeholders will work together to achieve automotive leadership as measured through customer satisfaction, satisfaction of employees, and business partners like dealers, suppliers, communities, and investors (Ford, 2018). One plan means that the company is committed to aggressively restructure to make profits under the current market conditions (Ford, 2018). Under one goal, Ford is committed to creating an exciting and profitable company delivering growth to all (David & David, 2017). This mission statement covers the interests of all stakeholders by committing to make sure they are all satisfied. It also shows that the company understands that the automotive company is changing and therefore commits to constantly restructuring in order to make profits under new conditions. The mission also shows unity within the company.

Objectives

The company currently has a range of objectives based on sales, safety, research and innovation, and sustainability. The main objective is to be the world’s most trusted mobility company (Ford, 2018). In sales, the company has an objective to increase its global sales and has set a target of 9.4 million vehicles by 2020 (Ford, 2018). In research and innovation, the company wants to be a leader in integrating new technologies and is working towards increased mobility through better vehicle safety, electrification, in-car connectivity, and self-driven autonomous vehicles (Ford, 2018). The company has invested in research and innovation through the Palo Alto Research and Innovation Center. On sustainability, the company is committed to reducing greenhouse gas emissions and making better fuel consuming vehicles (SEC, 2018). It is also investing on recycling and reusing materials from obsolete cars.

Strategies

The company has different strategies in place. For example, it is focused on busing recycling centers near its factories so as to facilitate the recycling and reuse of materials. The company also has a research and innovation center in Silicon Valley that spearheads its innovations and thus makes sure it does not miss new trends and technologies (Ford, 2019). One of the new innovations is creating higher engine outputs with smaller displacements which will greatly improve fuel economy and emissions (David & David, 2017). Another innovation is improving safety by adding Blind Spot Monitoring, lane alerts, and parking assist. This center also comes with better ways of achieving sustainability.

To increase global sales, the company makes use of cost leadership strategy by providing high quality vehicles at mainstream prices. “In 2014, Ford launched more vehicles than ever before in a single calendar year, including a new Mustang and F-150” (David & David, 2017). Ford is also currently engaged in its largest manufacturing expansion by increasing capacity in six U.S. plants and opening two plants in Asia and one each in South America and Europe. To increase trust among all stakeholders, the company constantly engages them to prioritize their issues.

Step 2 Develop vision and mission statements for the organization.

Vision

Advancing the automotive industry through innovation and efficiency.

Mission

Ford Motor Company: Driving a greener future

Step 3 Identify the organization’s external opportunities and threats.

Opportunities

With the emphasis on going green during the last decade, Ford will have a great opportunity for sales of fuel-efficient vehicles in the future. Ford has already seen large revenue from fuel efficient vehicle sales. The demand of utility vehicles is a great opportunity for Ford Motors as well because the Ford F150 is the leading utility vehicle in the industry. Global expansion and joint ventures will allow Ford to increase sales across the world (David & David, 2017).

Threats

The increased price of materials would lead to an increased sales price of Ford vehicles. Decrease in gas prices would lead to a decreased necessity of consumers to buy fuel efficient cars leading to a surplus in this type of vehicle. The same idea goes for increased gas prices and the utility and SUV vehicles that require more fuel to run. Alternative transportation such as trains and buses, especially in large cities, decrease the need for consumers to purchase vehicles (Rezwana, 2015).

Step 4 Construct a Competitive Profile Matrix (CPM).

Ford

Toyota

GM

Critical Success Factors

Weight

Rating

Score

Rating

Score

Rating

Score

Global Expansion

0.14

2

0.28

3

0.42

3

0.42

Financial Position

0.10

2

0.20

4

0.40

3

0.30

Growth

0.16

1

0.16

3

0.48

4

0.64

US Market Share

0.20

3

0.60

4

0.80

2

0.40

Customer Loyalty

0.15

4

0.60

3

0.45

3

0.45

Fuel Efficient Vehicles

0.18

3

0.54

3

0.54

2

0.36

Employee Expertise

0.07

3

0.21

4

0.28

3

0.21

Totals

1.00

2.59

3.37

2.78

Step 5 Construct an External Factor Evaluation (EFE) Matrix.

Opportunities

Weight

Rating

Weighted Score

1

Fuel Efficient Vehicles

0.15

3

0.45

2

Global Expansion

0.14

2

0.28

3

Increased Consumer Spending

0.09

1

0.09

4

Demand of Utility Vehicles

0.12

3

0.36

5

Industry Growth

0.08

1

0.08

Threats

Weight

Rating

Weighted Score

1

Increase in Price of Materials

0.08

2

0.16

2

Increase in Gas Prices

0.08

3

0.24

3

Decrease in Gas Prices

0.08

1

0.08

4

Increased Competition

0.12

3

0.36

5

Alternative Transportation

0.06

2

0.12

Total EFE Score

1.00

2.22

Step 6 Identify the organization’s internal strengths and weaknesses.

Strengths

Ford Motor Company’s strength is that it is a worldwide brand with high customer loyalty; moreover, Ford has a strong position in brand name vehicles within its fleet (Ritson, 2010). Their innovative ability to find creative ways to reduce the weight of the vehicles but still provide the strength in their trucks shows their ability to conduct research and development (Meyer, 2017) making their F-series truck the bestselling in the world. Ford has an automotive technician program that holds automotive training throughout the country in various community colleges and public technical schools. These programs help Ford pick and choose the best performers to hire as their technicians while also introducing technicians who are familiar with the Ford brand out in the communities throughout the country. While Ford is training technicians, it is also working on improving and automating some of its procedures to save costs and improve accuracy and automate its undesired jobs (McKenzie, 2015). An example of automation is the laser camera systems that review the outer-body of the vehicle to ensure no dents or imperfection in which it may be difficult to determine with the human eye, to the installation of windshields with suction cups and robotic machinery.

Weaknesses

With all of Ford's strengths, they do have weaknesses. Ford's relationship with the union is imperative to its success. Negotiating with the bargaining unit and not giving up management rights while preventing a strike is essential. A strike can cause a massive loss of production and profit. Recalls can also cause massive losses to Ford. An example is Ford and Firestone tire recall. In the year 2000, an investigation and inquiry began on the blow out of the Firestone tires installed for the Ford Explorer. Ford recalled and replaced the tires, but not after various lawsuits and congressional inquiries causing a bitter court battle between Ford and Firestone.

Ford does strive to train their employees, but at one time they had issue retaining their employees. Employees where leaving, searching for better wages, working conditions, and better healthcare options during the economic boom. High attrition causes high cost for training which can cause mistakes and delays in production. Ford needs to work on its marketing outside the United States. They currently rely too much on their sales in the United States, while in Europe, their products are considered inferior (Martinez, 2019) compared to BMW and Mercedes. Tesla emerging in the automotive market as a leader in battery operated vehicles is a massive oversite from Ford. These are profits lost because Tesla was able to sneak its way into the automotive industry creating a good fuel-efficient electric vehicle of high quality.

Step 7 Construct an Internal Factor Evaluation (IFE) Matrix.

Strengths

Weight

Rating

Weighted Score

Worldwide Brand

0.15

4

0.60

Customer Loyalty

0.06

3

0.18

Innovation

0.15

4

0.60

Skilled Workforce

0.06

3

0.18

Automation

0.06

3

0.18

Weaknesses

Weight

Rating

Weighted Score

Union Issues

0.15

2

0.30

Vehicle Recalls

0.15

2

0.30

High Attrition

0.03

1

0.03

Product Marketing

0.03

2

0.06

Technology

0.16

2

0.32

Total IFE Score

1.00

2.75

Step 8 Prepare a Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix,

Strategic Position and Action Evaluation (SPACE) Matrix, Boston Consulting

Group (BCG) Matrix, Internal-External (IE) Matrix, Grand Strategy Matrix, and

Quantitative Strategic Planning Matrix (QSPM) as appropriate. Give advantages

and disadvantages of alternative strategies.

SWOT

SO Strategies

1

Create/market new EV brand line (S1, O1)

2

Add new locations to build EV line (S4, S5, O3, O4 )

ST Strategies

1

Increase automation to keep prices down (S5, T1, T2, T4, T5)

2

Invest in R&D to keep loyal customers, innovate to attract new customers and exploit gas prices increasing in our favor (S2, S3, T3)

WO Strategies

1

Add resources to market new line (W4, O1, O2)

2

Add EV division with own production center to accommodate for the growth and give R&D toward new technology (W2, W5, O1, O3)

WT Strategies

1

Hire R&D personnel to push technology and stay competitive (W5, T5)

2

Invest in lean & robust manufacturing processes to decrease failures and excess materials being used (W2, T1)

Space

Internal Analysis:

External Analysis:

Financial Position (FP)

Stability Position (SP)

Return on Investment (ROI)

5

Rate of Inflation

-4

Leverage

1

Technological Changes

-7

Liquidity

2

Price Elasticity of Demand

-2

Working Capital

5

Competitive Pressure

-5

Cash Flow

5

Barriers to Entry into Market

-2

Financial Position (FP) Average

3.6

Stability Position (SP) Average

-4.0

Internal Analysis:

External Analysis:

Competitive Position (CP)

Industry Position (IP)

Market Share

-3

Growth Potential

6

Product Quality

-2

Financial Stability

4

Customer Loyalty

-2

Ease of Entry into Market

6

Technological know-how

-4

Resource Utilization

2

Control over Suppliers and Distributors

-5

Profit Potential

6

Competitive Position (CP) Average

-3.2

Industry Position (IP) Average

4.8

BCG

Relative Market Share Position

High 1.0

Low 0.0

Industry Sales Growth Rate

High 0.20

Low -0.20

IE

THE IFE TOTAL WEIGHTED SCORES

Strong

Weak

4.0

1.0

High

4.0

THE EFE WEIGHTED SCORES

Low

1.0

Grand Strategy

QSPM

4

2

Strengths

Weight

AS

TAS

AS

TAS

1

Worldwide Brand

0.15

3

0.45

2

0.30

2

Customer Loyalty

0.06

3

0.18

4

0.24

3

Innovation

0.15

4

0.60

3

0.45

4

Skilled Workforce

0.06

2

0.12

3

0.18

5

Automation

0.06

3

0.18

4

0.24

4

2

Weaknesses

Weight

AS

TAS

AS

TAS

1

Union Issues

0.15

2

0.30

3

0.45

2

Vehicle Recalls

0.15

3

0.45

1

0.15

3

High Attrition

0.03

3

0.09

1

0.03

4

Product Marketing

0.03

3

0.09

2

0.06

5

Technology

0.16

4

0.64

3

0.48

4

2

Opportunities

Weight

AS

TAS

AS

TAS

1

Fuel Efficient Vehicles

0.13

4

0.52

3

0.39

2

Global Expansion

0.11

3

0.33

2

0.22

3

Industry Growth

0.06

4

0.24

2

0.12

4

Demand of Utility Vehicles

0.11

2

0.22

1

0.11

5

Joint Ventures

0.08

3

0.24

4

0.32

4

2

Threats

Weight

AS

TAS

AS

TAS

1

Increase in Price of Materials

0.07

3

0.21

1

0.07

2

Increase in Gas Prices

0.11

4

0.44

3

0.33

3

Decrease in Gas Prices

0.09

1

0.09

3

0.27

4

Increased Competition

0.14

3

0.42

2

0.28

5

Alternative Transportation

0.10

3

0.30

2

0.20

STAS

6.11

4.12

Step 9 Recommend specific strategies and long-term objectives. Show how much your

recommendations will cost. Clearly itemize these costs for each projected year.

Compare your recommendations to actual strategies planned by the company.

Using forecasting tools such as the MIS technique, External Factor Evaluation (EFE) Matrix and the Competitive Profile Matrix (CPM), Ford Motor Company can gather, analyze and determine the major factors contributing to the declining sales. According to David & David (2017), in today’s market, as gasoline prices have risen above $4.00 per gallon in the United States since the September 2010 low of $2.70 per gallon, fuel economy has consistently been the number one reason for purchases of hybrid automobiles in the United States. Therefore, where most attention has been put into efficiency of producibility and establishing a lean culture, the attention must now turn to innovation to increase sales.

Based on Strategy One listed above, which is the more desirable strategy, internal weaknesses and external opportunities need to be a major focus. To do this, employees need better training both on how to create the vehicle as well as how to deal with the union. Ford also needs to do marketing globally which will increase global sales but in order for the marketing to be successful, these markets must be thoroughly researched, and new innovations and technology must become apparent. The cost of this strategy will be upwards of $5,000,000,000 over the next three years. Training employees will be the cost of hourly employees with maybe a few external speakers (around $1 billion), research and development will be the expensive section (around $3 billion), and marketing will be around $1 billion as you have to learn what works globally and what does not.

As Talay, Calantone & Voorhees (2014) states, Ford Motor Company is proposing to spend billions on autonomy, electrification, and new mobility services. Ford also announced plans to invest $1 billion over five years in artificial intelligence, pour $4.5 billion into 13 new electric vehicles by 2021, and acquire or partner with services such as on-demand shuttles and bicycle-sharing programs. Realizing investments in research and development for such innovations is risky, it also comes with huge reward potential, especially when the market and economy is increasing the pace from a steady walk to a full sprint regarding new technology. Hughes-Cromwick (2011) recognize that, based on the findings of extensive research and data mining, automotive manufacturers must develop a structured product development program that allows for continual and steady new product introductions; otherwise, even momentary setbacks can have a damaging impact on a firm’s ability to survive in the automotive marketplace.

Step 10 Specify how your recommendations can be implemented and what results you

can expect. Prepare forecasted ratios and projected financial statements. Present a

timetable or agenda for action.

Our strategy can be implemented by better training employees, marketing globally, and investing in research and development. In order to train employees, a program should be created for each position as to how to do that job. When an employee joins Ford or changes positions, this training program should be taught to the employee. Each employee should also have trainings/meetings once a year (or more if necessary) to keep updated with the system and any new changes that are happening both internally and externally. This will keep all employees current on their positions as well as involved in the company. To market globally, research must be done to see what the global markets are wanting to see in the automotive industry and then the development team must create these changes or come up with new innovations that will gain market share. Once these products are created, marketing globally can attract new customers to the Ford brand rather than just relying on North American sales. If the research and innovation teams do their jobs correctly, and marketing can get the brand out, sales globally should increase astronomically. The first year financials will decrease as employees are being trained and research is being done, but by year two, financials will have leveled out as trainings are not as costly creating better efficiency in vehicle designs causing lower recalls but now design and innovation teams are ramped up, and finally by year three, financials will skyrocket as the new products are being put to market.

Projected Income Statement

12/31/2019

12/31/2020

12/31/2021

Revenues

$159,915,600,000

$166,312,224,000

$182,943,446,400

Cost of Goods Sold

127,932,480,000

124,734,168,000

128,060,412,480

Gross Profit

31,983,120,000

41,578,056,000

54,883,033,920

Operating Expenses

20,789,028,000

21,620,589,120

23,782,648,032

EBIT

11,194,092,000

19,957,466,880

31,100,385,888

Interest Expense

1,410,500,000

1,411,000,000

1,411,500,000

EBT

9,783,592,000

18,546,466,880

29,688,885,888

Tax

1,369,702,880

2,781,970,032

5,937,777,178

Non-Recurring Events

1,000,000,000

3,000,000,000

1,000,000,000

Net Income

7,413,889,120

12,764,496,848

22,751,108,710

Projected Balance Sheet

12/31/2019

12/31/2020

12/31/2021

Assets

Cash and Equivalents

$46,318,889,120

$52,033,385,968

$67,784,494,678

Accounts Receivable

61,050,000,000

57,050,000,000

49,050,000,000

Inventory

11,185,000,000

11,235,000,000

9,235,000,000

Other Current Assets

3,650,000,000

3,650,000,000

3,650,000,000

Total Current Assets

122,203,889,120

123,968,385,968

129,719,494,678

Property Plant & Equipment

64,560,000,000

65,560,000,000

65,560,000,000

Goodwill

75,000,000

75,000,000

75,000,000

Intangibles

213,000,000

213,000,000

5,213,000,000

Other Long-Term Assets

77,852,000,000

77,852,000,000

77,852,000,000

Total Assets

264,903,889,120

267,668,385,968

278,419,494,678

Liabilities

Accounts Payable

21,280,000,000

19,280,000,000

17,280,000,000

Other Current Liabilities

76,320,000,000

76,320,000,000

76,320,000,000

Total Current Liabilities

97,600,000,000

95,600,000,000

93,600,000,000

Long-Term Debt

101,670,000,000

99,670,000,000

97,670,000,000

Other Long-Term Liabilities

25,520,000,000

23,520,000,000

21,520,000,000

Total Liabilities

224,790,000,000

218,790,000,000

212,790,000,000

Equity

Common Stock

41,000,000

41,000,000

41,000,000

Retained Earnings

26,323,889,120

35,088,385,968

51,839,494,678

Treasury Stock

(1,250,000,000)

(1,250,000,000)

(1,250,000,000)

Paid in Capital & Other

14,999,000,000

14,999,000,000

14,999,000,000

Total Equity

40,113,889,120

48,878,385,968

65,629,494,678

Total Liabilities and Equity

264,903,889,120

267,668,385,968

278,419,494,678

Projected Ratios

12/31/2019

12/31/2020

12/31/2021

Current Ratio

1.25

1.30

1.39

Quick Ratio

1.14

1.18

1.29

Debt-to-Total-Assets Ratio

0.85

0.82

0.76

Debt-to-Equity Ratio

5.60

4.48

3.24

Times-Interest-Earned Ratio

8

14

22

Inventory Turnover

14.3

14.8

19.8

Fixed Assets Turnover

2.48

2.54

2.79

Total Assets Turnover

0.60

0.62

0.66

Accounts Receivable Turnover

3

3

4

Average Collection Period

139.34

125.21

97.86

Gross Profit Margin %

20%

25%

0.3

Operating Profit Margin %

7%

12%

17%

ROA %

3%

5%

8%

ROE %

18%

26%

35%

Step 11 Recommend specific annual objectives and policies.

Following Strategy One, the first-year annual objectives will include making sure every employee in the organization has received their appropriate training and that the research department has successfully came up with three new vehicle models that are now in the innovation stage. In year two, the annual objectives of training will continue from year one but also adding that the innovation department has blue prints of the vehicles and prototypes are created. By year three, the same training objectives should be occurring but also that the new vehicles should now be going to market for consumer purchase. Additionally, by this point, the research team should be looking at coming up with new vehicle models or improvements for the current models.

Step 12 Recommend procedures for strategy review and evaluation.

To review to make sure the strategy is working as planned, an evaluation needs to be conducted at the end of each year to see if the company still has the same strengths and weaknesses internally, as well as understanding how they are comparing to the competition and if external opportunities or threats have changed. To do this, a SWOT analysis and a competitive profile matrix should be performed. Ford also needs to determine how their profits are performing for the new vehicle lines and if the new electric vehicles are the solution to their bottom line. To figure this out, the financial statements and ratios should be evaluated at year end when filed. If the SWOT analysis reveals different items than the current strategy focuses on, a revaluation of the strategy is needed. If the CPM reveals that the competition is growing stronger in relation to Ford, the strategy should again be evaluated as electric vehicles are apparently not the solution and more needs to be done for the bottom line.

FordFusion HybridFusion EnergiFocus ElectricF150 EcoboostFully Electric MustangQuadrant IIQuadrant IQuadrant IIIQuadrant IVRapid MarketGrowthSlow MarketGrowthStrong Competitive PositionWeak Competitive Position

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