Applying Concepts (50 points) Bill Ford never doubted that he could run his fam
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Applying Concepts (50 points)
Bill Ford never doubted that he could run his family’s company, Ford Motor Company. He just had to convince others that he could. It is not every day that an owner decides to throw him or herself into the management pool and learn to swim with different strokes. When Ford took over in 1999, many were skeptical and predicted a continued slide for Ford Motors. However, Ford believed that his new strategy would once again bring the Ford Company to prominence. The strategy was very simple—make more money selling fewer cars. Even though this strategy runs contrary to others in the industry, Ford has demonstrated that unprofitable lines can be eliminated, costs can be reduced, more affluent customers can be targeted, and that a rifle approach can win over the traditional shotgun approach. The key to Ford’s new approach is to surround himself with a team of executives that are decisive, can get along with one another, and are willing to take risks as a group. His team was assembled from all over the world. Different points of view were essential to the decision making success of the group. Ford believes in group decision making as opposed to the lone gun approach. The new bottom line is profits and a vision for the company that makes sense. Will Ford and his company make these dreams come true? Analysts are betting “yes” and have the stock numbers to support their vote.
Using a search engine of your own choosing, find an article about Bill Ford and the job he is doing at Ford Motor Company. What evidence of team-oriented decision making did you find in your article? Be sure to summarize any approach identified. You must write at least 2 paragraphs to receive credit. [10 points] Using a search engine of your own choosing, find an article about Ford’s new hybrid car, the Escape. Note that the Escape comes in a traditional and hybrid version. Since the Escape hybrid will take some time to show profits, why would Ford pursue such a car given the strategic information presented in the story above? [10 points] Go to the Ford website (www.ford.com) and find two examples of team-oriented decision making at the company. Be specific in your examples and be sure to demonstrate how your example demonstrates the team-oriented approach. [10 points] Explore the topic of decision making and intuition. Go to: http://www.forbes.com/sites/cherylsnappconner/2013/08/05/should-intuition-be-running-your-business-yes-and-no/
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. Write two paragraphs describing several ideas you learned from these articles, or others that you have found. [10 points] Additional information:
Please make sure to number your answers. (I will deduct up to 30 points for answers that are not numbered.).
Read some of your classmates’ responses on the discussion board. Select two of your classmates’ responses that are interesting to you and post a reply to each classmate. This part of the assignment is worth 10 points (5 points for each reply).