Answer the questions base on a company Essay Example | Topics and Well Written Essays - 2500 words

Answer the questions base on a company - Essay Example The evolution of strategic management can be better understood through real time systems and positioning systems. These are the basic strategic management tools used by the earlier companies. The strategic management process is the one which requires a basic conversation for turning goals and visions into act. It demands corporate culture which is intensive and adaptive. Lastly, the sense of corporate mission should be strong and should reach every corner of the organization, thus, it is touted as the destination. Answer b Ford has recently implemented various strategic management activities. Example 1 A clearly defined corporate mission statement is the first sign of the good and effective strategic firm. Though the corporate mission statement of the organization is extremely short, it is clearly explained through various sub-headings. Example 2 The company went for a lean management strategy in 2006. Ford started cutting costs, improving designs and increasing their efficiency leve ls to increase their overall brand appeal. In order to cover increasing pension costs and maintain the cash flow, the company introduced strategic operations into its management (Khan and Pillania 1510-1520). New and advanced machines took over and production increased dramatically. Example 3 Workforce diversity is another strategic management activity implemented by the firm. In terms of dealers, suppliers and employees, the organization has maintained diversity and inter-cultural infusion. This shows the adaptability of the organization and its commitment as well as ability to keep up with the pace (Alexander and Doherty 15-19). Answer c The mission statement of Ford is â€Å"One team, one plan and one goal† (â€Å"Mission and Vision†). One team represents the workforce of the car manufacturing brand. The company works together as a global and lean enterprise for leadership in automobiles as well as satisfaction of its employees, dealers, customers, suppliers, invest ors, council/union and communication. It is under a single plan that the company aims for aggressive restructuring in order to operate in a profitable manner and take control of the current demands. With one goal in mind, the organization expects to deliver growth which is profitable for all. The overall goal for the year 2014 is to create worldwide profitable growth. The company aims to cash on the changing business environment in the countries as well as markets where the company has established. Ford will be inventing research and development in order to find out the likes and changing perceptions of its target consumers. Accordingly, the company will be establishing strategies and tactics. The objective of the company for the year 2014 is to produce first class vehicles and establish itself as one of the finest and most preferred car making company across the globe (â€Å"Our Strategy†). 2. On corporate governance Corporate governance is a system created with the objectiv e of controlling and directing corporations around the globe. Answer a Three traditional roles of board of directors are: Providing continuity for the firm through setting up legal or corporate existence and representing the point of view of the organization to every interested and involved entity in the external environment. These include customers, investors, suppliers, governments, employees and communities. In order