Proposal Business Report with SWOT Analysis 4-13-2023 I need some help putting all of my research for
Question:
Proposal Business Report with SWOT Analysis 4-13-2023
I need some help putting all of my research for a final report on Ford Company, with some positive ideas that were given to me,
I have included my first report paper in bold font at the bottom of the article.
Ford Motor Company is considered a radical, innovative automobile company. Ford is always seeking leadership in the automotive industry, which was achieved earlier by inventing the Model T, which caused the global standard for car manufacturers to be changed. Ford was also the first automaker to use an individual approach, such as introducing assembly lines in manufacturing under the direction of Henry Ford.
The management of actions innovation did not only include manufacturing processes and quality but also a new era of corporate culture for their workers. After some time, Ford reached the point that they needed to change the pricing of the cars and make them affordable. Ford became focused on decision-making needs. Since then and till now, Ford has kept changing their innovation strategy to be always on top of the summit of the automobile industry.
Ford faced many challenges and some losses during its history, but it came back more determined and powerful every time. Companies reached the summit of the automotive industry, and Ford has made and is still making enormous efforts to Ford's clients worldwide. Ford closely monitors its clients through every possible channel, especially social media. Moreover, based on the collected information about the client's needs, Ford changed its marketing and pricing strategies to keep its customers devoted to its brand.
The Ford Motor Company was started by Henry Ford in 1903; five years later, the Model T was introduced in 1908. This mmodel'sdemand was tremendous, so Ford developed a new method for mass production to manufacture this huge, required number of models. In the same year, Ford opened its first international branch in Paris.
Ford Motor Company has produced different brands, such as Lincoln and Ford. Ford also owns shares in Mazda in Japan and Aston Martin in the United Kingdom; Moreover, Ford had owned shares in other brands, like Jaguar and Land Rover, which were later sold to Tata Motor in 2008 Volvo, which was then sold to Geely Automobile in 2010; Based on the annual sales report in 2015, Ford become the second-leading automaker in the United States and the fifth-biggest in the world.
Eventually, the teamwork will be better. Development is the mistakesMission statement is "One team. One plan. One goal" improving" The company believes that it can meet the customer's demands if they increase its products, which will enhance the Development response to the company's financial situation. This mission statement is the core of Ford's competitive strategy, which led them across the years to success one after.
SWOT Analysis
SWOT Analysis is a powerful method to analyze the business and helps to build a strategy that makes the business grow and be profitable. SWOT stands for strengths, weaknesses, opportunities, and threats. The strengths and weaknesses terms are internal factors of a company. On the other hand, the opportunities and threats terms are external factors of a company. Using the SWOT analysis is common for companies. We will use it to know the different factors that build the marketing strategy of Ford Motor Company.
Strengths
Strong and global brand recognition: Ford is known for its robust brand image, one of the most resilient reasons to attract and keep Ford's customers loyal. The value of Employees may not accept the process brand—that reached 11.2 billion dollars in 2019.
Research and aquicklyDevelopmentent are considered one of the strengths of Ford because of its dedication to developing new products. Ford keeps improving various factors such as safety, efficiency, fuel, and client satisfaction. Their research and development budget reached 8.2 billion dollars in 2018.
Diversity and Hugh network: Ford offers variety across 62 countries worldwide. The assortment company's different vehicle models meet the various needs of Prothe Vider's clients.
Weaknesses
The major weakness of Ford is its dependence on the US and European markets which limits its profit and revenue because the experts forecast that future markets such as India and China will be the top markets for car selling.
• Higher costs: Ford's costs and prices are higher than other competitors like Toyota
• Worldwide recall: Ford's Product recalls frequency is higher than the industry average. In 2016 and according to what was published on the CNBC website, 2016 Ford recalled about 830000 vehicles to replace faulty side doors. This caused a massive loss and affected the brand image.
Opportunities
There are several opportunities that Ford can create in the markets. Organizations create new segments of customers around the world. For example, producing environmentally friendly cars will attract customers who care about the ecosystem.
Moreover, Ford can penetrate other markets, such as China and India, to get shares of those markets and expand in those developing countries. One more opportunity for Ford is the AI vehicles because Ford spent 1 billion dollars on Argo-AI to build self-driving cars. This was published on the TechCrunch website by John Biggs Feb 2017.
Threats
There are many threats that Ford faces, such as aggressive competition between the rivals of the industry. This organization's competition causes Ford to struggle to maintain its innovation position in the market.
The increase in the price of raw materials is also a severe threat to Ford, affecting its profit margin.
Another threat is the technology corporates like Apple and Google because they are also investing in building driverless cars. Emphasizing cars can compete against Ford's driverless cars and take many market shares.
The SWOT analysis shows how Ford is a strong brand in the global markets. Also, it presents excellent opportunities for Ford to grow and expand. On the other hand, the analysis demonstrated some of Ford's weaknesses and needs to be fixed and avoided. Furthermore, the analysis exhibited some threats that Ford needs to handle carefully. Thus, Those four aspects of the study are considered efficient initiatives to start a solid and new marketing strategy.
I. Introduction Ford Motor Company.
A. Trend: Total Quality Management (TQM) is astudy'sfocusing trend in operations management. It is a process of managing an organization Company's quality products and services to customers. It is a continuous improvement process Ford's on customer satisfaction and continual improvement in all aspects of the organization. It involves analyzing processes, identifying root causes of errors, and focusing on reducing Ford's.
B. Organization: The Ford Motor Company is a service organization that produces cars and trucks. It has been in business since 1903 and is one of the largest automotive manufacturers in the world. Ford has a long history of providing quality vehicles to its customers and has implemented TQM to improve its operations and customer satisfaction.
II. Organization
A. Goals: Ford aims to provide customers with quality vehicles that meet their needs and exceed their expectations. Ford has also identified sustainability as a Ford aimsFord's goal, emphasizing green manufacturing and reducing their environmental impact. The TQM process is seen as a primary tool for achieving these goals.
B. Resources: Ford has the resources available to implement TQM. They have a strong management team, a dedicated workforce, and access to the latest technology. They also have a global presence, factories, and facilities in many countries and have established relationships with suppliers and customers worldwide.
C. Impact: TQM will essentialFord'she mistakes' goals and resources. It will help them reduce costs, improve quality, and increase customer satisfaction. It will also help them achieve their sustainability goals by reducing waste and improving efficiency.
D. Risk: There is some risk associated with implementing TQM, especially for an organization oimproving's size and complexity. There is a risk that the process may be too complex for the organization to manage positively impactoimprovingFord's or that it may be too costly to implement. There is also a risk that Ford or it may take too long to measure the results.
III. SWOT Analysis
A. Strengths: Ford's strengths include its long history of success, its global presence, its strong management team, its dedicated workforce, and its access to the latest technology. It also has strong relatiFord'snships with suppliers and customers and a reputation for quality vehicles.
B.to providences: Ford's weaknesses include its high-cost structure, its lack of innovation, its slow response to changing customer demands, and its reputation for producing inefficient vehicles.
C. Opportunities: Ford capitalizes on its strengths and reduces its weaknesses by implementing TQM. TQM will help Ford reduce costs, improve quality, and increase customer satisfaction. It will also help Ford to become more innovative and change customer demands.
D. Threats: quickly respondFord's include competition from other automotive manufacturers, changing customer demands, and the risk of implementing a new process.
IV. Continuous Improvement
A. Strengths: TQM can help Ford capitalize on its strengths by reducing costs, improving quality, and increasing customer satisfaction. It can also help Ford become more innovative, and Ford faces threats Ford's to changing customer demands.
B. Weaknesses: TQM can help Ford reduce its weaknesses by analyzing processes and identifying root causes of errors and customer decline ". It can also help Ford become more efficient and reduce waste.
C. Recommendations: Ford should implement TQM to reduce costs, improve quality, and increase customer satisfaction. They should also focus on becoming more innovative and responding Ford's quickly to changing customer demands. Ford should also use data-driven clients to measure the results of their efforts and ensure that their efforts customers the desired results.
D. Risk: The risks associated with implementing TQM include the complexity of the process, the cost of implementation, the acceptance of the process by employees, and the time it takes to measure the results.
E. Tools and Techniques: Ford should use continuous improvement tools and techniques such as Six Sigma, Lean Manufacturing, and Kaizen to implement TQM. These tools and techniques can help Ford identify and produce Ford's improvement areas, measure their efforts' results, and make necessary changes to improve operations.
V. Longevity: TQM has proven to be an effective tool for improving operations in many industries. It is a process that can be continuously refined and enhanced to meet the changing needs of customers and the changing demands of the marketplace. It is expected to remain relevant in operations management for many years.
VI. Conclusion
After researching and analyzing the goals, resources, strengths, and weaknesses of Ford Motor Company about TQM, I would recommend that the organization implement the trend. TQM is a trend that has proven effective in many industries and is expected to remain relevant in operations management for many years. TQM can help Ford reduce costs, improve quality, and increase customer satisfaction. It can also help them become more innovative and quickly respond to changing customer demands. Ford should use continuous improvement tools and techniques to implement TQM and measure the results of their efforts.
Explanation:
I. Description
Green manufacturing is the current trend in operations management that Ford Motor Company will implement. Important to operations management, green manufacturing focuses on minimizing the environmental impact of production processes.
The Ford Motor Company, a manufacturing organization, manufactures automobiles. This organization was chosen because it is one of the largest and best-known automobile manufacturers globally.
II. Administration
A. Objectives: Among Ford Motor Company's objectives is producing high-quality vehicles while minimizing their environmental impact. Green maniacal essentialorganization'sistent with the organization's objectives because it seeks to reduce waste and enhance sustainability.
B. Resources: The organization possesses the necessary resources to implement green manufacturing. Ford has implemented severaltainability initiatives, including single materials in its production processes.
Green manufafierceg will impact Ford's objectives and resources by enhancing its sustainability and reducing its environmental impact. To implement green manufacturing, the organization must modify its production processes.
D. Risk: Implementing green manufacturing with the organization's current resources may present risks. For instance, some required technologies may be costly, and employees may face a learning curve.
III. Analysis of SWOT Strengths:
Strong brand awareness
Superior research and technological capabilities Variety of merchandise
Weaknesses:
Dependence on the market in North America High-priced structure
Recalls and security concerns
Opportunities:
escalating demand for electric cars, intensifying demand for sustainable products, Development in emerging markets
Threats:
A fierce rivalry from other automobile manufacturers, Economic recessions, alterations to government regulation
IV. Continuous Improvement
A. Strengths: Green manufacturing will increase Ford's strengths and competitive advantages by enhancing its sustainability and minimizing environmental impact. This will improve the cgetcompany'sreputation and appeal to environmentally conscious consumers.
Ford's high-cost structure and reliance on the North American market may make it difficult for the company to contend with other automakers. These flaws can be remedied by implementing green manufacturing, decreasing production costs, and increasing global appeal.
C. Recommendations: Ford can implement cost-cutting measures and diversify its product offerings to appeal to a broader audience to address its weaknesses. Ford can capitalize on its assets by investing in research and Development to create more environmentally friendly products. The organization can implement green manufacturing by incorporating recycled materials into production processes, enhancing energy efficiency, and minimizing waste.
D. Risk: The high cost of new technologies and the need to train employees on new processes pose a potential threat to FoFord'sreen manufacturing implementation.
E. Tools and Techniques: Among the tools and techniques for continuous improvement recommended to Ford are Six Sigma, Lean Manufacturing, and Total Quality Management. These techniques are centered on reducing waste and increasing efficiency, which is consistent with the objectives of green manufacturing.
V. Longevity
Green manufacturing is an operations management trend that will likely persist soon. As more consumers become environmentally conscious, the demand for sustainable products will increase. In addition, government regulations are likely to become stricter, making green manufacturing necessary for automakers.
VI. Finishing
To enhance its sustainability and reduce its environmental impact, it is recommended that Ford Motor Company adopt green manufacturing practices. While instituting green manufacturing may incur initial expenses, the long-term benefits outweigh the risks. By implementing cost-cutting measures, diversifying product offerings, and investing in R&D, Ford can resolve its weaknesses and capitalize on its strengths. In addition, by employing continuous improvement tools and techniques such as Six Sigma and Lean manufacturing, Ford can increase its efficiency and decrease waste.
Introduction
Ford Motors Company, popularly recognized as Ford, is an American multinational company based in Dearborn, Michigan, that deals in automobile design, manufacture, marketing, and sale. The company sells various vehicles, including trucks, car models, SUVs, and electric vehicles. FoToFord'sustomer base is distributed across the globe. A SWOT analysis is a strategic management tool or framework individuals and organizations use to assess their internal strengths and weaknesses and the threats and opportunities that could exist in their external environment. This paper presents a SWOT analysis of Ford Motors Company.
Strengths
These characteristics or attributes are internal to an organization and provide a source of competitive advantage over rivals within the industry. The strengths of Ford Include the following.
Brand value: Ford enjoys a substantial brand value as one of the biggest auto manufacturers in the world and also deals in luxury SUVs under the Lincoln brand. This affords the company global recognition to customers (Colbert, 2016).
Diverse product offerings: Ford designs, manufactures, and sells various automobiles, including car models, SUVs, and electric vehicles that appeal to different demographics. This allows the company to meet the diverse needs of customers with its variety of cars (Colbert, 2016).
Global presence: Ford enjoys a solid customer base across various parts of the world, including Southern and North America, the Middle East, Europe, Africa, and the Asia Pacific. Ford manufactures in over 62 countries and has established a strong distribution channel through
dealerships, enabling the brand to access a more comprehensive market presence (Ford Motor Company).
· Strong market share: Ford enjoys a substantial market share, especially in the US, where it commands a market share of 13.9% and ranks behind General Motors and Toyota (Statista, 2023). Ford is also the most profitable brand in the US, with $23.66 billion.
· Investment in Research and Development: Ford maintains a futuristic outlook by investing billions of dollars in technological research and innovation. This has stepped up the company's efforts to improve its products continuously. For instance, the Ford Greenfields Labs at Palo Alto is recognized as one of the most extensive R&D facilities in Silicon Valley.
· Strong Financial Position: Ford enjoys a robust financial performance with an operating cash flow of $6.9 billion adjusted to $9.1 billion. In the Fiscal year ending 2022, Ford reported a solid financial position with $32 billion in cash assets and $48 billion in liquidity.
Weaknesses
These inherent limitations or characteristics put an organization at a disadvantage over rivals.
· Overdependence on US Market: Ford commands a global presence, but most of its sales are generated from its US market. This impacts the profitability of the brand.
· Product Recalls: Ford has been plagued by Product recalls for quality issues. This impacts the favorability of the products and increases costs, reducing profitability (Treisman, 2023). The company recalled 1.3 million Ford Fusion and Lincoln MKZ sedans between 2013 and 2018 and 220,000 F-150 pick-ups in 2021.
· Lack of Presence in Emerging Markets: Ford has struggled to establish a firm foot in emerging markets, especially in Asia, such as India and China
Opportunities
Ford· These are favorable events in the market that could be exploited to attain a competitive edge. Below are options this impacts the favorability of the products and increase costs, reducing profitability (Treisman, 2023) options.
· Expanding in emerging markets in Asia. Ford should consider expanding to Indian and Chinese markets to grow its global market share.
· Autonomous Vehicles: Autonomous or self-driven cars have emerged as the new technology for the future (Leon & Aoyama, 2022). Ford should leverage its innovation to diversify into AV vehicles to achieve Ford's first-mover advantage.
· Focus on electric and environmentally friendly vehicles in line with the growing consumer conscientiousness and need for green and sustainable products (Bohnsack et al., 2020).
Threats
· High competition from established automobile manufacturers such as Toyota, Tesla, and Mercedes could reduce Ford's market share.
· High regulatory pressures, such as environmental regulations and the push for sustainable business practices, requires stricter regulatory compliance (Bohnsack et al., 2020).
· Economic slowdown: The slow economic growth occasioned by events such as the Covid-19 pandemic, inflation, and the high cost of living impacts the company by reducing sales.
Conclusion
From the analysis, Ford has more strengths than weaknesses and should therefore leverage them to exploit its opportunities and counter threats that emerge within its external environment.
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr