We make some interesting reflections on how a company facing a business crisis like the present, and for this we will use the example of Ford company. This American car company has been the only one of the big 3 (the others are GM and Chrysler ) has stated that U.S. government aid, but more striking is that the company lost a whopping almost 20,000 $ million in 2006, ie start the current economic crisis in a situation of extreme gravity.
But that's not all, also the result has managed to increase continuously to get into profit in 2010, all with sales falling 50% between 2007 and 2010.
And how did that happen?, Actually seems like a miracle. Let us recount briefly the history of events:
"In September 2006 a change in the direction of the company passed into the hands of Mr. Alan Mulally, the great architect of this miracle. This man applied the following measures that have produced the excellent results we have discussed above:
- The executive of the company is moving in a dynamic rivalry between the areas and brands. Eliminates this rivalry by promoting teamwork.
- The first meeting was Mr. Mulally with his team, asked directly where the problems were so bulky that caused losses to the company, nobody responded. Had begun in the company philosophy of no outcrop of errors for fear of losing the manager's job. This is modified dramatically and encourages discussion of problems and errors that have occurred and the solution to them.
- Focus on business lines that are the heart of the company, for it proceeded the sale of the brands that kept the company and were complementary to its core business (Aston Martin, Jaguar, Land Rover and Volvo).
- Reduction of the models sold from 97 to 36.
- Improving the quality of the vehicles on the market, dramatically reducing repairs and problems that occur in the new models.
- Increased use of components used in making models more flexible manufacturing platforms.
- Drastic reduction of fixed costs and production capacity to adapt to new demand levels. "
Noelia Bermúdez
Rate Finance Consultant
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