Running Head: PROJECT 4
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Project 4 – Strategy Selection, Implementation, and Evaluation
May 17,2022
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Introduction
Ford is a reputed automobile business that operates in the global automobile
landscape. The strategic approach of the business entity plays an instrumental role in
shaping its ability to carry out its business operations in a sustainable and profitable
manner. The business focuses on its strategic approach since it enables it to gain a
competitive edge over its rivals in the automobile business landscape. In the report, a
diverse range of strategies has been designed for the Ford automobile business that will
enable it to effectively carry out its business while delivering value for the target market
audience. Zhilkin has argued that in the highly competitive and dynamic automobile
industry, the role of strategy is instrumental for the survival of a business (Zhilkin &
Kiryukhina, 2021). Over the years, the Ford automobile business has succeeded in
working on its strengths and creating innovative cars, trucks, and automobiles that focus
on customer safety as well as robust functionality.
In the report, a pool of alternative strategies has been designed for Ford that can
help the business effectively carry on with its business journey in the evolving automobile
landscape. Each of the strategies has been critically evaluated, and the best strategy has
been identified using appropriate tools and concepts. Relevant implementation plans have
been formed, and measures that must be adopted after the implementation stage have
been identified so that the business can devise and manage effective strategic approaches
to sustain its competitive position in the automobile market.
Alternative strategies for Ford Motors
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Strategic planning and development are essential for each and every organization,
regardless of the industry in which they operate. According to Hall, strategic planning
serves as a management technique that enables businesses to set future goals and
objectives for achieving stable growth in the market landscape (Steiner, 2010). A number
of strategies have been devised for the Ford company based on diverse variables such
as its core strengths, weakness, and elements that exist in the external environment.
Strengthen the innovative capability –
One of the fundamental strategies that Ford must focus on in order to maintain
its competitive position in the ever-changing automobile landscape is working on its
innovative ecosystem and research and development function. Ford is behind its
competitors, such as Tesla and General Motors, when it comes to adopting innovation
and advanced digital technologies (Arroyo, 2019). In the digitalized era of the 21st
century, it is necessary for the automobile company to focus on this area and work on
its technical capabilities and competencies. By strengthening its ability to innovate, Ford
will be able to leverage emerging and new technologies and create value for its target
market audience.
Integrate sustainability into its business processes –
An alternative strategy that Ford must consider while operating the automobile
landscape revolves around the integration of sustainability into its business processes. The
business is known to take several measures to minimize its environmental footprint while
carrying out its business operation. For example, Ford has adopted the global carbon
reduction strategy to address the climate change issue. It has also been focusing on
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reducing its waste and increasing the efficiency of the available resources (Helping build
a better world, 2022, p. 38). There is an opportunity for Ford to integrate the sustainable
component at each level of the work process by adopting the triple bottom line approach.
Such a strategic move will enable Ford to focus on diverse areas such as people, profits,
and the planet and have a sustainable existence in the automobile industry (Norman &
MacDonald, 2004).
Expansion of business into emerging markets –
The in-depth evaluation of the Ford business has revealed that its presence in
emerging markets is limited as compared to its industry rivals. According to Arroyo
(2019), Ford is considered to be a major player in the automobile environment. However,
it has struggled to remain competitive (Arroyo, 2019). One of the chief reasons for this
is the limited presence of the brand in emerging economies. In order to gain a
competitive edge, Ford must focus on expansion strategies so that its reach can expand,
positively influencing its sales and profitability at the global level.
Focus on electrification and connectivity in its electric car product category –
In the 21st century, the concept of electric vehicles has surged to a significant
extent. A large number of business entities operating in the automobile landscape, such
as Tesla, Toyota, etc., have been working on their capabilities to create safe and efficient
electric vehicles for the customers. Even though Ford has started to focus on the
electronic car segment, there is an opportunity for the business to work on specific areas
such as electrification and connectivity so that its electric vehicles can stand out from
the crowd. In the evolving technological landscape, ford must continuously work on its
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technical capabilities so that it can leverage digital technologies to lead a revolution in
the electric car segment (Helping build a better world, 2022, p. 44).
Integrating engagement into its marketing approach –
Another alternative strategy that has been designed for Ford revolves around its
marketing efforts. As Ford operates in a highly competitive and dynamic business
landscape, it is essential to maintain a solid, long-lasting, and trust-based relationship
with the target market audience. In spite of the fact that Ford has a good reputation in
the automobile market, the high number of recalls of its products have negatively affected
its credibility and goodwill (Ford Motor Company Provides Details on Three Safety
Recalls in North America, 2021). In order to increase the level of trust between the
brand and the target market audience, Ford needs to focus on its integrated
communication strategy. By using a diverse range of communication tools, such as the
official website, social media platforms, print ads, etc., there is a possibility to strengthen
the engagement with the potential and existing customers and positively influence its
credibility as an automobile manufacturer.
The five alternative strategies that have been devised for the Ford company can
play a key role and help the business to sustainably and profitably carry out its business
operations while maintaining its competitive position.
Cultural and organizational factors while analyzing the strategies
The strategies that have been devised for the Ford company have been analyzed
by taking into consideration a number of cultural and organizational factors. One of the
fundamental organizational factors that must be taken into consideration is the people
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factor or the human resources. Kabeyi has argued that the human factors act as the
backbone of an organization and help it to achieve its business goals (El-Toukhy, 2021).
In the case of Ford, the human factors, i.e., the workforce, their competencies, skills,
and technical expertise can have a direct influence on the application and effectiveness
of the identified strategies. For example, the robust technical skills of the organizational
personnel can help it strengthen its innovative capability and strengthen the R&D function.
Another key factor that needs to be considered for analyzing the strategies is the
innovative orientation of the organizational culture. Ford has a culture where innovation
and sustainable growth are promoted. These elements can work in favor of the
organization and help it to work on its electric vehicles (Helping build a better world,
2022). Another vital organizational factor is the leadership at Ford. Jim Farley, the CEO
of Ford, plays an instrumental role within the organization in providing a direction for
the organization to move forward in the evolving automobile landscape. His contribution
as a leader is critical to drive Ford towards better and sustainable market performance.
In order to effectively implement the strategies in the company, the buy-in from the
leadership team will be critical so that Ford can gain a competitive edge in the market
setting and offer value for the target market audience. By considering these factors, it
will be possible to comprehend how effectively the identified strategies can be applied
and executed at Ford. f f f
Strategy prioritization
Before introducing the strategies in the context of the Ford business, it is necessary
to prioritize them and assign a rank as per their importance. In the intensely competitive
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business landscape, the prioritization of strategies is crucial for the very survival and
growth of the business across diverse industries (Tohidi et al., 2020). The five strategies
that have been identified by Ford, including strengthening the innovative capability,
integrating sustainability into each business process, expansion into emerging markets,
electrification and connectivity in its electric cars and integrating engagement into its
marketing approach has been prioritized. The most important strategy for Ford is working
on innovation because by working on this area, the automobile manufacturer will be able
to adapt to the digitalized landscape and offer something new and unique to the intended
audience group. By focusing on this strategic area, Ford will also be able to strengthen
its capability in terms of its electric vehicle segment. The next strategy that must be
given high priority by Ford is entering emerging markets. As the political landscape is
undergoing a major change in the 21st century, Ford must expand its footprint in the
global business domain in a balanced manner. Instead of relying only on developed
economies, it must focus on emerging economies to broaden its customer base and
increases its sales potential. Since Ford has already adopted several measures to work in
a sustainable manner, such as reduction of emissions, shift towards a circular economy,
and optimum water utilization, the strategy can be given less priority (Kotler et al.,
2012, p. 47).
Qualitative Strategic Planning Matrix (QSPM) for strategy selection
The Qualitative Strategic Planning Matrix is a strategic tool that helps a business
to evaluate alternative strategic options. The matrix has been designed to evaluate the
strategic options for Ford by taking into consideration its strengths, weaknesses,
opportunities, and threats. David has argued that the QAPM tool has high relevance in
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the strategic management context since it enables firms to identify the future course of
direction while operating in the dynamic and evolving business landscape (Meredith et
al., 2017).
Strategy 1
Strategy 2
Strategy 3
Strategy 4
Strategy 5
Key Internal
Factors -
Strengths
W
(%)
R
WS
(%)
W
(%)
R
WS
(%)
W
(%)
R
WS
(%)
W
(%)
R
WS
(%)
W
(%)
R
WS
(%)
Well-known
brand
20
2
40
15
2
30
20
2
40
20
2
40
15
1
15
Wide product
range
20
4
80
25
3
75
20
3
60
15
3
45
20
3
60
Vast supply
chain network
10
3
30
15
2
30
10
3
30
15
3
45
20
2
40
Key Internal
Factors -
Weaknesses
Gaps in
research and
development
leading to
product recalls
20
2
40
20
2
40
25
2
50
20
2
40
20
1
20
Slow pace of
innovation
15
2
30
15
1
15
15
2
30
20
2
40
15
1
15
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Restricted
presence in
emerging
markets
15
1
15
10
1
10
10
1
10
10
1
10
10
1
10
Total
100
235
100
200
100
220
100
220
100
160
Key External
Factors -
Opportunities
Adapting new
digital
technologies
30
2
60
20
2
40
20
2
40
15
2
30
15
2
30
Entering new
and less
explored
markets
15
4
60
15
2
30
20
3
60
25
2
50
20
1
20
Upgrading
automobile
designs and
business
processes
10
3
30
15
2
30
15
2
30
15
1
15
15
2
30
Key External
Factors -
Threats
Tough
competition
from well-
known players
20
4
80
20
2
40
20
2
40
15
1
15
25
3
75
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Rise in the
cost of raw
materials
15
2
30
15
2
30
15
3
45
15
1
15
15
3
45
Need to
adhere to
changing and
new
regulations and
laws across
the globe
10
1
10
15
1
15
10
2
20
15
1
15
10
2
20
Total
100
275
100
185
235
140
220
The tool has helped to identify the chief areas that the business must focus upon
to sustain its competitive position in the automobile industry. For example, Ford must
focus on entering new and less explored markets, and the available opportunities would
work in its factor. Another example is the need to focus on innovation so that the
existing gaps in research and development can be addressed and the sluggishness of
innovative speed can be addressed.
Recommendation of best two strategies and long-term objectives for Ford
The best two strategies that have been identified for the Ford company include
upgrading the innovative capability of the firm and expanding into emerging markets.
The first strategy involves innovation because there exist several innovation opportunities
in the prevailing automobile industry (Ili et al., 2010). By strengthening its innovative
infrastructure, Ford will be able to offer high-quality automobile offerings in the market.
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Similarly, by entering the emerging markets that are not yet completely explored, Ford
will be able to reach out to a wider audience and expand its brand awareness and
profitability potential.
The long-term objectives that Ford must focus upon while operating in the
evolving automobile landscape include building a robust IT infrastructure that can support
innovation and creative ideas, offering training to the staff to increase their technical
expertise, and integrating flexibility into the organizational culture that can promote
creativeness and inquisitiveness. By focusing on the two identified strategies and long-
term objectives, Ford will be able to create value for itself as well as its target market
audience.
Identification of strategy using goals, objectives, strategy, and tactics
The two strategies have been identified by focusing on elements such as goals,
objectives, strategy, and tactics.
Strategy Recommendation 1 - Strengthen the innovative capability
Goals
To improve the ability of Ford to innovate and adapt to
the digitalized automobile landscape
Objectives
To strengthen the existing IT infrastructure
To integrate new technologies into its automobiles
Strategy
To focus on the technical skills of the staff
To promote creative thinking within the organization f
Tactics
Creation of cutting-edge automobiles
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Strategy Recommendation 2 - Expansion of business into emerging
markets
Goals
To increase the presence of Ford in the global setting,
especially in emerging nations
Objectives
To target audience from emerging countries
To strengthen the brand name and brand presence
Strategy
To focus on expanding production facilities in emerging
markets
To focus on the promotion of business in less explored
markets
Tactics
Expanding brand reach in emerging economies
Recommendation of procedures for strategy implementation
For implementing the identified strategies, Ford must follow a systematic and
methodical approach. In the initial stage, the company must set realistic goals that would
guide it to progress in the desired path. Then the roles of appropriate organizational
personnel must be determined. Their buy-in is critical to implementing the strategy in
place. After determining the roles, the work must be assigned so that there would be
no ambiguity while working on the new strategies. Then the execution and monitoring
of the strategy implementation process must be conducted. This step is critical since it
can help to identify whether there exists any deviance or not.
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Some of the key aspects that must be taken into consideration while following
the relevant procedures relating to strategy implementation include transparent
communication among the key stakeholders such as the research and development team,
human resource personnel, etc. Effective communication within the organization can play
an instrumental role in obtaining the buy-in of the leaders and employees and positively
impact the effectiveness of the strategic implementation process (Bucata & Rizescu, 2017).
Discussion on who, what, and how to implement the strategy at diverse levels
While implementing the identified strategies for Ford at the corporate level,
business-unit level, and functional level, it is necessary to address questions relating to
who, what, and how. The table presented below captures how each of the strategies will
be implemented in Ford.
Strategy 1 - Strengthen the innovative capability
Corporate level
Who – Leaders, including CEO Jim Farley, and the management
team
What – They will provide direction to the staff to work towards
the strategy
How – They will serve as change agents to implement the
strategy
Business-unit
level
Who – IT team and Research and Development team
What – They will work on innovative ideas and creative thinking
How – They will leverage advanced technologies to strengthen
Ford’s digital innovative capabilities
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Functional
level
Who – Staff members of Ford
What – The staff will share new ideas and demonstrate their
efficiency
How – They will enhance their technical skills to add value to
Ford
Strategy 2 - Expansion of business into emerging markets
Corporate level
Who – Leadership team
What – They will provide direction to staff by communicating the
need to expand in emerging markets
How – They will help in seeking buy-in of organizational staff
Business-unit
level
Who – Marketing and Sales team
What – They will work on promoting and influencing the sales of
the business
How – They will aid in improving brand presence
Functional
level
Who – All employees of diverse functions within Ford
What – They will focus on improving productivity at individual
and team levels and aid in its expansion in emerging markets
How – They will influence the quality and performance of Ford
Procedure for strategy review and evaluation
The procedure that must be followed for reviewing and evaluating the strategies
of Ford encompasses a series of stages. Firstly, the leaders must be involved in the
review and evaluation process to ensure that the strategies are creating value for the
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business or not. It is necessary to identify key performance areas such as the rate of
innovation, the contribution of individual staff towards creative ideas, or new marketing
measures in emerging markets. While focusing on the performance indicators, emphasis
must be laid on both the qualitative and qualitative aspects such as percentage increase
in innovative ideas, consistency, appropriateness, etc. The actual performance must be
compared with the standards of performance to capture variance. Based on the identified
variance, corrective measures must be taken so that the strategies can be effectively
deployed within Fords (Hieu & Nwachukwu, 2019).
Evaluation measures
Some of the key evaluation measures that Ford must take into consideration while
reviewing the strategies are conducting a SWOT analysis, using the Internal Factor
Evaluation (EFE) Matrix, and performing Porter’s Five Force analysis. These methods
will help to identify key measures that can be evaluated, such as the degree of innovative
ideas that have been generated, the market share that the business has captured in
emerging markets, and the market position of Ford as compared to its competitors (Hieu
& Nwachukwu, 2019). The competitive profile analysis can also be conducted to identify
the areas in which Ford could gain an edge over its rivals based on the newly identified
strategies. The performance measurement of individuals is critical to capturing the
effectiveness of the strategies. Some of the key evaluation measures that Ford must focus
upon include the involvement of staff in quality improvement and an increase in the
generation of innovative ideas.
Corrective Action Plan
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A corrective action plan has been designed that can be used in case there is any
deviance in the strategy implementation process. It will play a cardinal role since it will
provide a series of instructions to achieve the intended strategic objective. The appropriate
plan has been presented below:
Elements of plan
Corporate level
Who – Leaders and management team at Ford
What – They will identify the reason for variance and take
measures
When – They will take instant corrective measures by
communicating about the variance.
How -They will offer a fresh perspective relating to strategy and
how it must progress
Business-unit level
Who – The supervisors who work at diverse business-unit levels
What - They will communicate with their subordinates about the
deviance
When – They will engage with the staff as soon as they are
intimated about the issue by the management team at Ford
How – The roles and responsibilities may have to be discussed
Functional level
Who – Each staff member working in diverse functions at Ford
What – They will work towards modified roles and responsibilities
When – They will immediately focus on their changed role
How – They can seek help in case they lack clarity about their
role in the strategic execution process.
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f
Conclusion
The key strategies that have been identified for Ford business include strengthening its
innovative capability and expanding into emerging markets. The internal and external
variables of the business have been considered while framing these strategies. By working
on these specific areas, Ford will be able to sustain its competitive position and gain
an edge in the market setting. For the success of the strategy, its proper implementation
and evaluation are of paramount importance.
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