Strategic Management of Ford Motor Company Essay

Strategic Management of Ford Motor Company - Essay Example The paper tells that one of the key challenges of firms operating in the modern market is to locate the resources required for the development of their activities. The recession of 2008 onwards has led firms in all industries to develop innovative strategies – aim to compete with their rivals and stabilize their position. The industries, which have already reached their higher level of growth, like the automotive industry, are expected to proceed to key strategic measures in order to ensure their survival. In the last two years, the performance of the automotive industry indicates that the specific industry has already reached a high level of performance – compared to the most industrial sectors worldwide. It is for this reason that most firms of the specific industry have started to report losses – which, in certain cases, are extremely high. However, the survival of the firms operating in the specific industry can be achieved through additional measures  œ such the ones developed by managers in Ford Motor Company. Ford was first established in 1903. Since then, the firm has managed to expand its activities at such point, that it is now considered as the third major competitor in the global automotive industry. The firm’s growth is highly based on its brands, which are well known in the global automotive market. On the other hand, the firm has managed to achieve a stable growth, a fact that indicates its ability to transform its strategies in order to meet the market trends. The performance of the firm during the first quarter has been encouraging – compared 2008 when the effects of the crisis on the organizational profitability were made clear. The firm’s external environment should reveal the changes that should be promoted across the organization aiming to ensure the stabilization of the firm’s performance. The major competitors of the firm in the context of the global market are General Motors, Chrysle r, and Toyota – after the bankruptcy of the two first companies, Toyota has been left as the main competitor of Ford.