Ford Internal Audit
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Fords Mission Statement:
We are a global, diverse family with a proud heritage, passionately committed to providing outstanding products and services.
Revised Mission Statement:
We are a global family with a proud heritage passionately committed to providing personal mobility while staying environmentally friendly for people around the world.
Overview
Over the past decade, the automotive industry has faced many challenges. The declining economy has forced companies to lay off employees, search for new revenue streams, and some have been bailed out by the government. Ford was the only American automotive manufacturer that did not take a government bailout, which helped propel the company in a positive direction. They developed new strategies to produce more fuel-efficient vehicles, which is what many consumers are looking for during the current recession (Ford Motor Company, 2011).
Proposed Strategy
We have developed a series of strategic initiatives that will carry Ford through the next ten years. With the country beginning to come out of a recession, now is the perfect time for a company like Ford to attack another market segment in order to increase profits and their reputation as well.
Our idea is for Ford to develop a new service that will offer recharging stations for electric vehicles, as well as maintenance/repair shops for electric or hybrid vehicles all in one location. With the emergence and gaining popularity of hybrid and electric vehicles, consumers will be looking for options to keep their vehicles charged and maintained. We are planning to combine both of these concepts to maximize potential and target two different sets of customers. Several companies have recharging stations currently, but none have been combined with the maintenance/repair shops. We plan to join with another company so not every station will have the Ford name associated with them. The reason for this is to attract all consumers with hybrid or electric vehicles, not just Ford owners. If an owner of a Honda hybrid sees a station that has Ford associated with it, they might not feel comfortable taking their vehicle there to be serviced. If they see a name other than Ford that specializes in hybrid and electric vehicle repairs, they will be more inclined to take their vehicle there for service.
The plan is to create two different types of charging stations. The first type will re-charge vehicles at the average pace, which can range anywhere from 6-12 hours for a full charge, depending on the vehicle. Vehicles can be charged much faster and much slower than this, but 6-12 is an average time length to make these estimations. These stations will be built in rural areas where people are not as rushed opposed to people living in larger