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Effective Decision Making - Essay Example

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Effective Decision Making [Name of the Writer] [Name of the Institution] Effective Decision Making Introduction The decision-making practice is conversant to everyone, being functional at almost all distinct and comprehensive stages in person’s professional and private life…
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Effective Decision Making
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Download file to see previous pages Alan Mulally is a man that has turned around the automaker's finances through his effective decision making. Mulally became the CEO of Ford Motor Company in Fall 2006. He is not an expert in building cars, yet he has been able to steer his company through the rough waters that has devastated other auto companies without any government bailouts. One interesting observation is that his leadership style is very positive in terms of effective decision-making. This paper identifies the role of Alan Mullally as a leader who has always supported effective decision making. It also discusses how Mullally has created a constructive decision environment. The paper further discusses the generation and evaluation of alternatives in effective decision making and implementation of decisions effectively. Discussion In 2006, Bill Ford Jr., the founder's great-grandson, put sideways the very factual probability of merger, even bankruptcy, and took a decision to place another CEO on his position as an attempt to save Ford Motor Company. He offered the post to a Detroit outsider, Alan Mullally, accredited with the post-9/11 resuscitation of Boeing and lured to Ford by the prospect of saving an "American and global icon. (Brown, 2009, 52)" After joining Ford as a CEO, Mullally has taken several decisions to change the company's prejudiced culture and insisted on teamwork. He developed a recovery plan and worked out on that plan uncompromisingly. He surveyed the entire business weekly to measure progress of other competitors and deeply monitored his own company’s performance. Mullally’s wise decisions win over the Ford family by safeguarding a critical finance just aforementioned to the credit calamity along with the reduction in the number of brands and streamlining of production as per customer demands (Naughton, 2011, 66). He invested and applied advanced technologies for improved fuel efficiency and better production. His one of the effective decisions was an agreement UAW that yielded cheap labor costs that fended off the corporate invaders and convinced the public to buy Ford Cars. Another major decision Mullally has taken to get Ford the place where it is now was the well-publicized denial to accept the government bailout GM and Chrysler necessary to survive (Taylor, 2009, money.cnn.com). Mullally rests controlled in reducing costs and invest more in product development. Restructured models lift Ford Motor's U.S. market share to 17.5% from 16.1 %. That profited the company from the challenges of its competitors. Suppliers report that domestic-make customers turned progressively to Ford after General Motors and Chrysler went through bankruptcy and accepted government coffers to persist (Taylor, 2009, money.cnn.com). Mullally has created a constructive decision environment on the basis of his timely efforts and effective decisions. In late 2006, Ford borrowed $23 billion, hocking everything, including the company's Blue Oval logo. That gave Ford the cash cushion it needed to withstand losses and develop new models such as the Fiesta. The most important thing Ford has done is invest heavily in new product during this down cycle (Naughton, 2011, 66). The trade-off was a debt load that Mullally has said puts Ford at a competitive disadvantage with rivals GM and Chrysler, which slashed their debt in bankruptcy. Mullally's discipline showed when he made the historic decision to terminate the 71-year-old Mercury brand by year end. His ...Download file to see next pagesRead More
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