Ford was confronting changes that had taken place in the motor vehicle industry. It included the faces and the noses of the cars and other vehicles from different industries of the same. Other manufacturers such as Toyota had come up with new faces of the vehicles and were really doing well in the market. These were the changes that Ford Company had to compete with in order to continue remaining on top of his competitors. The company did a lot of things to manage these changes. The company borrowed a loan of $23.5 billion so that it could improve the quality of its products and beat its competitors in the market. Bill Ford decided not to take his salary until the company made some profits. Sucking off of some workers was another strategy that the company used to combat the changes. Lastly, building the cars that people want and sell in the market was also used by the company to combat the changes. The strategies used by the company in managing the changes were not successful as they were old-fashioned. The company is recently performing very poorly taking into consideration its market share, financial performance and long-term prospect.
- Why do you think they were not able to build these types of cars before?