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Turn Around Management - Ford Motor Company - Case Study Example

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The paper "Turn Around Management - Ford Motor Company " discusses that generally speaking, while considering the turnaround strategies taken up by the Ford Motors Company, the first action which draws our attention is the change in the company management. …
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Download file to see previous pages  The Ford Motor Company is based in Michigan and the owner of the brands like Ford, Lincoln and Mercury selling worldwide including the US market. Its international ventures include Volvo in Sweden, holding in Mazda of Japan, small share in the former subsidiary Aston Martin of England. The other most famous UK subsidiaries of Ford included Jaguar and Land Rover which has been sold to Tata Motors of India in March 2008 following the downfall in Ford’s business. In 2007 Ford produced 6.553 million automobiles and employed about 245,000 employees at around 100 plants and facilities worldwide. Ford received more initial quality survey awards from J.D. Power and Associates than any other automaker, with five vehicles ranking at the top of their categories, and fourteen vehicles ranked in the top three in 2007 (Dapena, n.p.). Ford was the pioneer in introducing methods for large-scale manufacturing of cars and large-scale management of an industrial workforce, using elaborately engineered manufacturing sequences typified by moving assembly lines. The methods introduced by Henry Ford came to be known around the world as Fordism by 1914. Ford experienced its greatest sale during the late 1990s in a booming American economy with the soaring stock market and low fuel prices.
But with the beginning of the twenty-first century, the situations started to change rapidly in the US as well as the world markets. Ford Motor Company faced a severe downfall in its market in recent times which made it lose its top position as a car maker. The legacy healthcare costs, higher fuel prices, and a faltering economy led to falling market shares, declining sales, and sliding profit margins. Most of the corporate profits came from financing consumer automobile loans through Ford Motor Credit Company and not directly from automobile sales (Leggett, n.p.). The profit from Ford Credit was attributed to the higher used-car prices that lifted the value of Ford vehicles returned to the company after leases and fewer bad loans as the company retreated from lending to customers with poor credit (Hakim, n.p.).  ...Download file to see next pagesRead More
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