Ford Motor Company: The Negative Impact Of The Global Financial Crisis

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Unlike its peers in the industry, Ford Motor Company successfully endured the negative impact of the global financial crisis of 2008 through decisive corporate leadership, introduction of innovative products, and positive culture and corporate values. More specifically, some of the primary factors that helped Ford stay afloat during the global financial crisis include: the top management’s decision to mortgage the company’s assets to have adequate cash on hand; continued investment in product development and introduction of new products that appeal to customer’s new preferences; and the company’s positive corporate culture, particularly the introduction of One Ford. One Team. One Goal, which unites all employees to work together to achieve …show more content…

When Mulally took over the management leadership, he introduced the One Ford plan, which is essentially about the responsibility of each employee to commit to the company and to each other and to stay focus in achieving the mission and objectives of Ford (Irvine, 2013). Ford’s corporate culture teaches each employee to become “One Team” and to work together towards the same goal. Moreover, the company’s management, led by executive chairman and former CEO Wiliam Clay Ford Jr. teaches Ford employees take ownership of the products made by the company (Hammod, 2011). Another important mindset that was instilled in all Ford employees is the “detail to product”. This kind of mindset, which teaches employees the importance of paying attention to detail, helps the company to continue to innovate and introduce new car models and technology that address the needs of its target customers. This companywide attention to detail dramatically supported the company to establish its strong market position today. Overall, Ford’s culture influences its employees to strive for higher performance at all

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