Environment, Competition, Opportunities, Threats, and Competencies of Ford Motor Company
Use the External and Internal Environments Template [DOCX] to ensure that your assignment meets the requirements.
Requirements
Write a 4-6 page paper in which you do the following:
Choose the two segments of the general environment that would rank highest in their influence on the corporation you chose.
Assess how these segments affect the corporation you chose and the industry in which it operates.
Considering the five forces of competition, choose the two that you estimate are the most significant for the corporation you chose.
Evaluate how well the company has addressed these two forces in the recent past. With the same two forces in mind, predict what the company might do to improve its ability to address these forces in the near future.
Assess the external threats affecting this corporation and the opportunities available to the corporation.
Give your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Justify your answer.
Give your opinion on the corporation's greatest strengths and most significant weaknesses.
Choose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Justify your choices.
Determine the company’s resources, capabilities, and core competencies.
Three references are needed...
The company I used was the Ford Motor Company
Student's Full Name
Course Name
Professor's Name
Date
Week 6 External and Internal Environments Assignment
The Ford Motor Company is one of the well-known car manufacturers in the industry. The company has enhanced its brand through aggressive advertising, allowing it to thrive in a highly competitive environment. The company uses the external and general atmosphere to determine the market opportunities and threats. This information is then used to determine its demographics and the products it would offer its consumers. This paper will focus on the general environment, forces o competition, future improvements, opportunities, threats, and competencies of Ford Motor Company.
General Environment
The general environment of a business plays an important role in determining its operations and profitability. Companies in different industries get affected in different ways by these environmental segments (Michael, 2020). The technological and economic components of the general environment have affected Ford Motor company the most.
Technological Segment
Given the current technological advancements, the motor manufacturing industry has changed a lot. The companies in this industry have to manufacture vehicles that correspond with the present technology. For instance, the technology used to manufacture these vehicles' fuel consumption capacities keep on changing. Ford Motor company keeps up with the changes by manufacturing fuel-efficient cars (Wong, 2019). Such vehicles have the highest demand, and therefore, providing them to consumers would place the Ford Motor Company at a better position in the competitive edge. Another technology being used at Ford Motor Company is the manufacturing of electric cars. These cars are the future of the motor industry, and therefore, they have highly shaped the company's functioning.
Economic Segment
The economic segment of the Ford Motor Company has highly affected how the company runs its activities. One of the main factors that have affected this segment is the COVID 19 pandemic. The pandemic has left a substantial number of people jobless due to the layoffs. This means that the demand for vehicles has reduced. Therefore, Ford Motor Company has to strategize and develop ways of enhancing its profitability when the need for cars has reduced (Katiyar, 2021). The company is segmented in different areas across the world ad. Therefore, the economic impact on the company varies from one country to another. Some countries have better economies than others. For instance, the economic performance of Ford Motor Company in the UK is better than its performance in third world countries.
Five Forces of Competition
The Ford Motor Company remains one of the top manufactures of cars in the world, and this can be attributed to its ability to overcome the five forces of competition. Among the main forces of competition affecting the Ford Motor company are the competitive rivalry and the bargaining power of buyers. Each of these forces presents the company with a challenge that ought to be solved to ensure Ford Motor company remains at a better position in the competitive edge. The strategic management team at Ford Motor company carries out a detailed analysis of the business environment to determine the threats that might lower the company's competitive capabilities (Michael, 2020).
Competitive Rivalry
The Ford Motor Company is facing a lot of competition from other firms such as Toyota. Toyota is constantly updating its products, which has created a highly competitive environment for Ford Motor company. The company has to keep upgrading its products to meet the consumer expectations that its competitors have set. The automobile industry has a high exit barrier, which means the existing firms have to continue competing with Ford Motor. These firms would find it costly to exit the market because they have made huge investments. Therefore, they would rather keep up with the competition than exit the demand. Such presents a strong rivalry force for Ford Motor Company because it has to share the existing market bases with its competitors (Wong, 2019). The firms in the automobile industry, such as General Motors, are aggressive competitors, and therefore, Ford Motor Company has to develop strategies of beating the competition. Among such strategies would be product differentiation and all actions that enhance consumer satisfaction and facilitate repeat purchases.
Bargaining P...