Select one publicly traded corporation that has filed for bankruptcy between 2005 and 2010. Provide a thorough description of the corporation and the products or services it sells. In your professional opinion, what caused the selected corporation to seek bankruptcy protection? What could or should have been done differently by top management to avoid the corporate financial failure that was experienced by the publicly traded corporation that you selected?
The company I selected is General Motors. GM declared bankruptcy on June 1, 2009. Thanks for your help.
General Motors is a corporation that designs a variety of different vehicles for a number of different subsidiary companies, such as Buick and Chevrolet. This Corporation is charged with designing highly advanced quality vehicles, for a variety of different consumer types, which was one of the methods that this company utilized in order to gain a larger customer base around the world. This corporation utilized some of the most highly trained and skilled engineers in the world in order to design some of the highest quality and technologically advanced vehicles in the world as well. This organization recruits heavily from some of the best universities in the world such as MIT, in order to ensure that it maintains an adequate number of engineers and designers for its needs. This organization also is very innovative and designs other products, such as helping to design the suits being utilized by NASA astronauts. In addition, this corporation is instrumental in helping to design some of the latest weaponry for the United States Armed Forces, which is instrumental in ensuring that America's defense is strong, and a deterrent to enemy forces around the world.
In addition to being an innovative designer of some of the highest quality vehicles in the world, this organization also builds its own vehicles and plants located around the world. GM focuses on utilizing the most efficient and effective methodologies by which to manufacture its automobiles and, by doing so, saves the company a tremendous amount of money. This allows this company to transfer the savings to the customer base, by offering these vehicles at very reasonable prices. Scientific management is one of the hallmarks of the manufacturing ...