Still, the company's mission has many times proven to be difficult, especially because it has to face 22 competitors, the most important ones being DaimlerChrysler, General Motors and Toyota.Even though, the management staff has chosen to maintain the company's position on the market by designing 'smarter and more efficient models" of cars, which would be safer as well. In what the prices are concerned, many models, especially the luxury ones, can be considered quite expensive, but, on the other hand, the company provides its clients with the possibility to apply for credits, a marketing strategy which offered Ford Group the chance to register 49.39% of the market sales. Cutting prices would represent a future promotion plan though, next to the aim of producing car models with a reduced possibility to pollute the air.
3. In what the financial situation of the company is concerned, it must be reminded that in the late 1990s, Ford sold large numbers of vehicles; the situation changed at the beginning of the 21st century, when sales have declined, most profits coming from financing consumer automomobile loans through Ford Motor Credit Company. Moreover, the company has reported a "net loss of $12.7 billion during 2006, and has estimated that it will not return to profitability until 2009." Moreover, it seems that the gross profit has decreased from $35,796.0 in 2004 to only 11,254.0 in 2006.In a situation as such, it cannot be argued that Ford is still a profitable company.
In this framework, the staff management has proposed a new strategy in 2005, named "The Way Forward," which includes resizing the company to match current market realities, dropping some unprofitable and inefficient models, consolidating production lines, and shutting fourteen factories and cutting 30,000 jobs. In my opinion, this strategy would give results, since all the unprofitable elements would be eliminated step-by-step and, in exchange, the managers would have the possibility to concentrate on other projects that would make the company profitable again.
All in all, with a history of more than 100 years, and cars sold on 4 continents, it might be truly said that Ford is a legend and, as legends never die, Ford would not die either. On the contrary, I think it would again succeed to be profitable, mostly because...
se people would never stop to buy the cars of the famous brands it owns and, on the other hand because it has used its clients with quality products and services, which would be permanently sought.
Bibliography
Ford company, at http://en.wikipedia.org/wiki/Ford_Motor_Company
Ford Motor Company, at http://www.ford.com/en/company/default.htm?referrer=home
Ford's Mission's Statement, at http://manonamission.blogspot.com/2005/04/fords-f-mission-statement.html
Ford Motor Company Annual Report, at http://www.ford.com/NR/rdonlyres/emwjt42turmgvsborq7bqproy43vwvnf4cztbl56l4oos4sf545rswt6jdh3gap4juvgevydld4g43xxky6y5znoote/2005_AR_full.pdf
The Future of Ford, at http://www.ameinfo.com/25445.html
Ford company/Competitors/, at http://www.hoovers.com/ford/--ID__10597,target__company_competitors -- /free-co-samples-index.xhtml
Ford Company, at http://www.hoovers.com/ford/--ID__10597,target__business_reports -- /free-co-samples-index.xhtml
Ford Fighting to keep its shine, at http://news.bbc.co.uk/1/hi/business/4297305.stm
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Ford company, at http://en.wikipedia.org/wiki/Ford_Motor_Company
Ford Motor Company, at http://www.ford.com/en/company/default.htm?referrer=home
Ford's Mission's Statement, at http://manonamission.blogspot.com/2005/04/fords-f-mission-statement.html
Ford Motor Company Annual Report, at http://www.ford.com/NR/rdonlyres/emwjt42turmgvsborq7bqproy43vwvnf4cztbl56l4oos4sf545rswt6jdh3gap4juvgevydld4g43xxky6y5znoote/2005_AR_full.pdf
The Future of Ford, at http://www.ameinfo.com/25445.html
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Ibidem 2
Ford company/Competitors/, at http://www.hoovers.com/ford/--ID__10597,target__company_competitors -- /free-co-samples-index.xhtml
Ibidem 2
Ford Company, at http://www.hoovers.com/ford/--ID__10597,target__business_reports -- /free-co-samples-index.xhtml
Ford Fighting to keep its shine, at http://news.bbc.co.uk/1/hi/business/4297305.stm
BBC NEWS, "Ford hit by Record," at http://news.bbc.co.uk/2/hi/business/6298463.stm
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