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Business at Work

Extracts from this document...

Introduction

Anglo European School

EDEXCEL AVCE BUSINESS STUDIES

Assignment 1

Unit 1: Business At Work

Candidate Name: Toong Lu

Candidate Number: 9007

Centre Number


Table of Contents

1. Introduction

1.1 Aim

1.2 Report Structure

2. Review of Ford Motor Company

2.1 Company Overview

2.2 Business Objectives: Vision, Mission, Objectives, Strategy and Tactics (VMOST)


1. Introduction

  1. Aim

The aim of this report is to understand the Business Environment and within organisation of Ford Motor Company (FMC), which includes the culture and management of the company. This report will also analyse and evaluate communication channels and quality control that FMC possess. Finally, conclusions will be drawn through the assessment of the process that is carried out by the company to meet their objectives, with recommendation of alternative approaches, which may enable FMC with further success in the future takings.

1.2 Report Structure

The investigation will follow a structured analysis approach, illustrated in Appendix I.


2. Review of Ford Motor Company

2.1 Company Overview

Ford Motor Company is a public limited company, listed on the New York Stock Exchange. Ford Motor Company is one of the world’s largest multinational automotive companies that manufactures and distribute automobiles in 200 markets across six continents employing more than 327,000 people worldwide. The company consists of eight core and affiliated brands (Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo)

...read more.

Middle

[1]

As a private limited company

The ownership of FMC has been inherited to the third generation of the Ford family – Henry Ford, William Clay Ford and William Clay Ford Junior. Currently, the Ford family owns 20% of the company’s share. Although the Ford family owns such a small percentage of the company’s share, they still hold the majority right of the company.

As a well-established public limited company, FMC holds the advantage over newly set up company as it dominates the market with only a few major competitors such as General Motors and Toyota.

However, as a successful plc, FMC faces threats from outside interests that may result as being the subject to fluctuation or even possible take-over battles. For example, in the past few years, Ford has taken over a couple of automotive companies such as Jaguar and Volvo. Also, they had discussions about taking over BMW but were unsuccessful.

As described above FMC has made the translation from a small private company into a global public listed company over the past century. Its size and company structure has both its advantages and disadvantages.

Advantages

  • Limited Liability
  • Continuity of the business (as a plc, it normally dominates the market)
  • Ease of buying and selling shares
  • The ease of capital inquisition (it’s easier for a plc to raise their finances as financial institutions are more willing to lend money to a plc)

Disadvantage

  • The ease of buying and selling shares may attract outside interest that may result for being the subject to fluctuation of possible take over battles.

2.2 Business Objectives: Vision, Mission, Objectives, Strategy and Tactics (VMOST)

Businesses exist to provide goods and services to satisfy their customers. All businesses have their own distinctive attitudes, value and beliefs that make up their culture, in which they set themselves objectives that reflects the way they operate.  The objectives that most businesses’ follows are based on: -

  • Making a profit
  • Increasing sales and/or market shares
  • Surviving
  • Offering charitable and/or non- profit services, such as contributing in saving the environment
  • Developing staff skills
  • Producing high quality products and/or services
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Conclusion

Air Quality and Vehicle Emissions

Ford’s Position

  • Ford has dramatically reduced the tailpipe emissions of our vehicles and continues to push for further improvements. Additionally, we are dedicated to developing alternatively fuelled and advanced technology vehicles that produce significantly reduced, and in some cases, zero emissions. Our consumers rely on our vehicles to provide important function and utility. We are committed to actions that address both the needs of customers and the need for improved air quality.

Ford’s Action

  • Ford has voluntarily certified all of our gasoline pickups, SUVs and the Windstar minivan as low-emission vehicles (LEVs), years ahead of regulation.
  • Our LEV trucks are cleaner than many cars on the road today.
  • Ford offers more alternative-fuel vehicles than any other major automobile manufacturer. They include models that operate on compressed natural gas (CNG), liquefied petroleum gas (LPG), ethanol, and electricity. We are also focusing on a variety of advanced technologies, including hybrid electric vehicles (HEVs) and fuel cell vehicles, to significantly reduce emissions while not compromising utility.[6]

        -  –


[1] Source: Ford 100 Years Anniversary Year Book

[2] Source: www.ford.com

[3] Source: Company Internal Website – www.marketstrategies.ford.com

[4] Source: Jim Padilla’s “Building on Basics” Triangle (refer to Appendix II)

[5] Source: Bill Ford Internal e-mail to FMC Employees (refer to Appendix III)

[6] www.ford.com/en/company/about/publicPolicy/airQualityVehicleEmissions.htm

...read more.

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