I need help with the following:
1. Create an environmental scan for the company indicating the most significant environmental threats and discuss how the company should respond to each threat to ensure that the impact to the business is minimal.
2. Based on the environmental scan, evaluate the company's strengths and evaluate how the company can leverage these strengths so as to yield a competitive advantage in the marketplace.
3. Identify a significant competitor for the company and assess how your company will compete against it to maximize profits and create value for stakeholders.
4. Assume that the U.S. economy is in a state of decline requiring modifications to the strategy. Evaluate how the strategy should be modified. Provide a justification of how this will help the company continue to compete in the marketplace.
5. Evaluate how global competition may impact the business strategy and determine how the company should respond.
The company selected for this assignment is Ford, the leading manufacturing of automobiles based in USA with presence across the globe. Ford's environmental scanning reveals the major strengths of the company in terms of huge brand reputation and goodwill, strong brand visibility, wide range of product offerings across various automobile segments and strong leadership in segments like pickup trucks, strong infrastructure and manufacturing facilities and R&D setup, etc.
The weaknesses of the company include lack of reputation as a manufacturer of fuel efficient cars as compared to Japanese players like Toyota, lack of production efficiency as compared to Japanese manufacturers, etc.
The main opportunities in front of the company include the growing EV/hybrid and small car markets, growing demand for automobiles in emerging markets like India and recovering economy in domestic market.
The main threat to the company is strong competition from Toyota, GM, etc. The company faces tough competitive scenario from these powerful companies whose products appear to be better than Ford's products. The increasing competition, coupled with tough economic scenario in USA, Europe, etc. which is another major threat, Ford has been forced to renew its strategy and focus on enhancing efficiency and altering focus towards smaller and EV/hybrid cars in order to respond to the competitive and economic threats faced by the firm.
2. The main strength of Ford is its strong brand reputation, goodwill and visibility, especially in its domestic market as well as in various other markets across the globe. Ford has strong resources, R&D set up, manufacturing base and wide range of models. It leads the pack in segments such as Pickup trucks and coming up strongly in the EV/Hybrid segment as well. Ford has done lot ...