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The company’s competitors are,
According to annual report on Ford motor company (1988), the chief competitors of Ford Company are Volkswagen, Toyota, BMW, Daymler Chrysler, General motors’ Honda, and Nissan. Major customers are Hertz Hewlett-Packard, GE, Merck, Rent A-Car, and other commercial accounts and millions of individual.
Strengths
Strengths are competitive advantages or core competencies that give a company an advantage in meeting the needs of its target markets. According to Annual Report of Ford Motor Company (1998), Ford Company has an excellent leadership and management strengths. The company have an excellent knowledge and analytics of the global market
1. Commitment to environment protection by developing low emissions technologies
2. Same spares can be used in multiple models in what is termed as virtual assemblies
3. Innovations in technology and procedures like virtual assembly line, single model, and centralized global risk management frame work.
4. Excellent brand equity with legacy strengths and high levels of dignity for ford brand heritage at the global lev...
Identifying and understanding your own personal strengths is key to being a successful leader. Knowing your strengths means you can focus your efforts to maximize results, in yourself and in others. Strengths Finder 2.0 is designed to uncover your strengths and utilize these strengths to your advantage (Rath, 2007). Identifying and applying these strengths to your leadership style, will enhance your effectiveness as a transformational leader.
The Man’s Truck In the last thirty-eight years, Ford has known how to target the audience they have for the F- series of trucks. After the new advertisement that Ford produced, it can be implied that they replicated their success again. With the first commercial being aired on television and online during the 2014 college football playoffs, Ford had a marketing strategy. It is apparent in almost all of the advertisements, including this one that Ford produced, is to showcase the newest and the best of the best F-Series of trucks and that they aim to get all the hard working American man.
Until recently, the Ford Motor Company has been one of the most dynastic of American enterprises, a factor which has both benefited the company and has brought it to the brink of disaster. Today Ford is the second largest manufacturer of automobiles and trucks in the world, and it’s operations are well diversified, both operationally and geographically. The company operates the worlds second largest finance company in the world, and is a major producer of tractors, glass and steel. It is most prominent in the US, but also has plants in Canada, Britain and Germany, and facilities in over 100 countries.
Strengths refer to what the company or product are better and/or particularly better than its competitors. It is a factor that happens internally and currently to the organisation, giving the company advantage in the market that it operates in.
Ford Motor Company current mission statement is “committed to provide personal mobility for people around the world”. With that in mind their vision is to become the world’s leading Consumer Company for automotive products and services. By improving everything they do, the company provide superior returns to their shareholders (Vision, Mission, Values).
So the discussion on internal and external analysis clearly defines that where the competitive advantage of Ford Motors is and where it is lacking. People who have durability as their first priority will go for Ford but they lack in some of their strategies which the management should consider and work on it. We also came to know that Ford is an innovative company from the very first and also serves local demands with the help of related and supporting industry. But in some points they have taken wrong decisions which compel them to sell some of their brands to others. The good news is they are doing hard job to maintain their performance regarding their star and cash cow products to remain in the competition.
Since 1967 Polo Ralph Lauren the brand is impeccable example for how a company must develop strong brand equity through the years. Indeed, the brand has established its image across a diversity of products and markets using a perfect lifestyle marketing approach. To understand how the brand has achieved strong brand equity, and resonance with its customers, analy...
Brand equity is crucial as it implies that the brand itself is an important (financial) asset and can be calculated in financial terms (Barwise, 1993). This is particularly important in the luxury sector as from a behavioural viewpoint, brand equity can differentiate a company or product from other competitors, adding to their competitive advantages based on non-profit competition (Aaker, 2004). The model created by Aaker (1992) states that there are four categories of brand equity; Loyalty, Awareness, Perceived Quality and Associations. Luxury branding relies on a high level of perceived quality, loyalty and associations, although potentially less so for awareness, as it is thought that consumers choose luxury brands based on their exclusivity and as such the more the awareness that surrounds the brand, there is potential for it to become less valuable (Phau and Prendergast,
Strengths Since first reporting profits in 2003, Tesla Motors has been climbing it’s way to brand awareness ( Hirsch, 2015). While the ever-growing and changing company has many accolades, there are three core strengths Tesla Motors has to offer. These core strengths include, competitive advantage, pricing, and supply chain management.
Some would argue that its mistakes prove that with the right strategy, any company can overcome the blunders it may have made. The Ford Pinto and Ringwood, New Jersey incidents coupled with the Firestone Tire recall in the recent decade may have impacted Ford Motor Company’s daily operation. However, despite the shortcomings of some of its products and short sightedness of the owner, Ford Motor Company still manufactures high quality products. Ford Mustang, Ford F-150, and the Ford Explorer are some examples of the quality of vehicles that Ford Motor Company can assemble. Ford Motor Company has utilized the value-chain to perfection, exploited an effective corporate strategy, used strategy implementation and control to varying degrees of success, applied an efficient evaluation and control system, and improved its social responsibility with different innovative
Competencies are resources that give an organization advantages over their competition within a specific market. Competencies are difficult for competitors to mimic and what an organization does best. Competencies and strengths are very similar and at times can be confused. The primary difference is strengths are closely aligned with internal existing behaviors that come naturally while competencies are skills, knowledge, and behaviors that are developed and translate to strategic advantages. EMI has developed key competencies that will allow us to compete in an extremely competitive environment while maintain our corporate mission.
With about 187,000 employees and 62 plants worldwide, the company’s automotive brands include Ford and
Compared to my competitors, my strengths are my languages, technology skills, education, work ethic and the ability to follow directions. The first strength that I am aware of is I speak three different languages. Also, I have decent technology skills. I have a great educational background from KU. Work ethic is another one of my personal strengt...
the only person other than Ford to successfully break in to the automotive industry. (Henry Ford Biography, 2015) The second car produced by Ford was the Model N, a $600 dollar four-cylinder automobile which became the bestselling car in the country. (Henry Ford Biography-Childhood, Life, Achievements & Timeline, 2015) Much of the Ford’s success was due to the assistants that Ford had. James S. Couzens, C.H.Willis, and John and Horace Dodge, the Dodge brothers who would eventually start Dodge motors learned a lot from Ford at this time. (Henry Ford Biography, 2015) In 1907 profits were over $1,100,000 dollars and the company had a worth of $1,038,822. This was substantial amount of money at this time. After the success of the first two models Ford had a vision for a better, cheaper, motorcar called the Model T which got its name due to the fact the o-s where not approved or liked by Ford. So, in 1908, the Model T was introduced to the public. (Exhibits, 2014) The Model T was easy to
Ford’s business level is the integrated cost leadership/ differentiation strategy; this involves engaging in primary and support activities that allow the company to simultaneously pursue low cost and differentiation. This strategy is flexible and enables Ford to use technology to control the production of variety of products in moderate, flexible qualities and with a minimum manual interaction, whose goal is to eliminate cost verse product variety. Cost leadership is a strong strategy, but it can be undermined by the frequent changes in technology, the imitation of cost advantage and lost of focus on consumers. Ford’s differentiation strategy focuses on developing a unique product that consumers are willing to pay and the combination of these two strategies enables Ford to stay on its core competencies.