Visteonsectionlearningteam5
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Macro-economic forecast evaluate the countrys economy from many perspectives and projects future conditions. It consists of many components, including: an analysis of the economy, by sector, demographic trends related to employment and other factors; trade projections and current account balances; money supply and other monetary considerations; government influences on the economy; inflation, both general and by sector; savings and investment trends; government indebtedness; and major events influencing the economy. This paper will examine the Visteon Corporations planning issues as it relates to the companys vision and mission. It will offer recommendations based on economic forecast.
Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has about 77,000 employees and a global delivery system of more than 180 technical, manufacturing, sales and service facilities located in 25 countries
In order for Visteon to sustain itself in this economy it must make its products and services more attractive to the automotive makers of the world. This would create a strategy to maximize interest in Visteon and therefore maximize profit opportunities. Environmental concerns rank as a top priority for Visteon. They have adopted a business philosophy that combines the strategies of embracing opportunities and managing risks from a combination of economic, environmental and social developments. This level of thinking earned Visteon the “Dow Jones Sustainability Index”. Maintaining the award for the third year becomes an indicator to shareholders that this company is committed to long-term increases by addressing the concerns and issues of their communities.
Another strategy to maximize opportunity would be banding together with other suppliers. In trying to cut costs, it was mentioned that Visteon as well as other suppliers were cutting costs by 5% annually. While this has been the norm for Visteon and other suppliers as of 2002 things had begun to change. The annual cost cuts for automakers were threatening to deplete profit margins to a point where future funding would be eliminated.