Step 9 Recommend specific strategies and long-term objectives.

Show how
much your recommendations will cost. Clearly itemize these costs for each
projected year. Compare your recommendations to actual strategies planned
by the company.
 Using forecasting tools such as the MIS technique, External Factor Evaluation (EFE)
Matrix and the Competitive Profile Matrix (CPM), Ford Motor Company can gather,
analyze and determine the major factors contributing to the declining sales. According to
David & David , in today’s market, as gasoline prices have risen above $4.00 per gallon in
the United States since the September 2010 low of $2.70 per gallon, fuel economy has
consistently been the number one reason for purchases of hybrid automobiles in the United
States. Therefore, where most attention has been put into efficiency of productivity and
establishing a lean culture, the attention must now turn to innovation to increase sales.
 Based on Strategy One listed above, which is the more desirable strategy, internal
weaknesses and external opportunities need to be a major focus. To do this, employees
need better training both on how to create the vehicle as well as how to deal with the union.
Ford also needs to do marketing globally which will increase global sales but in order for
the marketing to be successful, these markets must be thoroughly researched and new
innovations and technology must become apparent. The cost of this strategy will be
upwards of $5,000,000,000 over the next three years. Training employees will be the
cost of hourly employees with maybe a few external speakers (around $1 billion), research
and development will be the expensive section (around $3 billion), and marketing will be
around $1 billion as you have to learn what works globally and what does not.
 Ford Motor Company is proposing to spend billions on autonomy, electrification, and
new mobility services. Ford also announced plans to invest $1 billion over five years in
artificial intelligence, pour $4.5 billion into 13 new electric vehicles by 2021, and acquire
or partner with services such as on-demand shuttles and bicycle-sharing programs.
Realizing investments in research and development for such innovations is risky; it also
comes with huge reward potential, especially when the market and economy is increasing
the pace from a steady walk to a full sprint regarding new technology. Hughes-Cromwick
recognize that, based on the findings of extensive research and data mining, automotive
manufacturers must develop a structured product development program that allows for
continual and steady new product introductions; otherwise, even momentary setbacks can
have a damaging impact on a firm’s ability to survive in the automotive marketplace.