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Proposal for new strategic endeavors of production, pricing and resource utilization at Ford Motor Company
In the context of the global economic recession, the American automobile industry faces demise. Out of the three main players in the United States, Ford Motor Company has rejected the bailout from the government and has focused its strategy on internal restructuring. As part of this effort, the future project would set out to provide some recommendations of how the company can reshape its production, pricing and resource utilisation strategies in an effort to create more value for the organisation.
Introduction
With the commencement of the 2007 economic crisis, the American automobile industry has been facing endless challenges. The number of customers has decreased, as has their purchase power and the subsequent demand for the companies' products. Once a primary employer in the country, the automobile industry was forced to downsize tens of thousands of individuals in only a few years.
But the problems of the American automobile industry have not commenced with the crisis. They had been existent for years, in a more salient manner, which was eventually exacerbated by the crisis. The U.S. car manufacturers had failed to address the changing needs of the customer base and they had also failed to respond to the changes in the macro economy. Some examples of features neglected by the industry include the increases and instability in the international price of oil, the increasing emphasis on environmental sustainability and the customers' desire for small size and fuel efficient cars.
Today, the automobile industry in the United States strives to cope with the new challenges of the micro and macro environments and its primary focus remains that of restoring its stability. In such a setting, the future project would assess the case of Ford Motor Company and would strive to provide strategies and tactics on how the company should approach its pricing, production and resource utilisation decisions in a manner in which it creates more value for the firm.
3. Research scope, questions and significance
The scope of the future project is that of generating practical recommendations on how Ford Motor Company could approach production, pricing and resource utilisation in a means in which it would generate more value for the firm. In order to attain this objective, it would have to answer four specific research questions, as follows:
(a) What are the macro-environmental forces impacting strategic management at Ford Motor Company?
(b) What are the micro-environmental forces impacting strategic decision making at Ford Motor Company?
(c) What are the internal organisational traits impacting strategies at Ford Motor Company?
(d) How can the organisation combine the strengths and opportunities to overcome the weaknesses and the threats in the creation of better pricing, production and resource utilisation strategies, which create more value for the firm?
In terms of the significance of the future project, this is observable at two different levels, namely a theoretical level and a practical dimension. In terms of the theoretical significance of the future study, this is revealed in terms of the ability of the study to centralize relevant findings in the literature, but also to generate new findings that are relevant in the context of organisational and managerial research, as well as research of the automobile industry.
The practical significance of the study is represented by the fact that the study would generate specific recommendations that are pertinent in the current macro and micro economic contexts, and which can constitute valid starting points in the future decisions of Ford, as well as other players in the automobile industry.
4. Background
The background to the current study is represented by previous individual research on the topic of Ford, as well as on the wider topic of the automobile industry, with emphasis on the American automobile industry. This previous research constitutes the starting point, yet it would also be completed by new and more thorough investigations and analyses.
5. Theoretical framework
5.1. Nature of sources
The theoretical framework of the future study would be represented by the information already available in the specialized literature. This information would be thoroughly researched and centralised in a manner that is relevant for the approached topic, namely the problems of Ford and potential solutions to increase its organizational value.
The sources to be consulted could be classified into three different categories, each with its own traits. For instance, a first category is represented by books,...
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