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Company Description Analysis of Strategic Alliance with Ford MINOR PROJECT REPORT ON STRATEGIC ALLIANCES – FORD MOTOR COMPANY BUILT FOR THE ROAD AHEAD. Submitted for fulfillment of the requirement for the award of the degree of Bachelor of Business Administration To Guru Gobind Singh Indraprastha University Under the guidance of: Mrs. Nidhi Prasad Submitted by: Sandeep Singh Sethi 1 SANDEEP SINGH Analysis of Strategic Alliance with Ford Roll No.: 05910601709 ANSAL INSTITUTE OF TECHNOLOGY TO WHOMSOEVER IT MAY CONCERN This is to certify that the minor project report titled STRATEGIC ALLIANCES – FORD MOTOR COMPANY carried out by SANDEEP SINGH has been accomplished under my guidance and supervision as a duly registered BBA student of the ANSAL INSTITUTE OF TECHNOLOGY (G.G.S I.P. University, New Delhi). This project is being submitted by him in the partial fulfillment of the requirements for the award of the Bachelor of Business Administration from I.P. University. His dissertation represents his original work and is worthy of consideration for the award of the degree of Bachelor of Business Administration. ____________________ (Name and Signature of the Internal Faculty Advisor) Title: Date: 2 SANDEEP SINGH Analysis of Strategic Alliance with Ford ACKNOWLEDGEMENT The Project Report is the outcome of many individuals without whom it cannot be molded, so they deserve thanks. I thank my teacher, Mrs. Nidhi Prasad under whose guidance I have been able to successfully complete this project. I thank all of my friends and fellow classmates for their assistance in this project. – Sandeep Singh 3 SANDEEP SINGH Analysis of Strategic Alliance with Ford CONTENTS Page no. COMPANY PROFILE ………………………………………………………….. 6 ORGANIZATION STRUCTURE ……………………………………………… 6 ORGANIZATION HISTORY …………………………………………………... 7 In 1903 …………………………………………………………………….. 7 In 1908 …………………………………………………………………….. 7 In 1919 …………………………………………………………………….. 8 In 1939 …………………………………………………………………….. 8 In 1947 …………………………………………………………………….. 8 In 1950 …………………………………………………………………….. 8 COMPANY PRODUCTS ………………………………………………………. 10 EXECUTIVE SUMMARY ……………………………………………………… 11 The Strategic Alliance Boom ……………………………………………… 11 INTRODUCTION ……………………………………………….………………. 13 Scope of the Study ………………………………………………………… 14 Objective …………………………………………………………………….14 Porter’s Five Forces ………………………………………………………....17 COMPANY PROFILE (Analytical Report) ……………………………………. 19 Competitor Analysis ……………………………………………………….. 19 Sales Analysis ……………………………………………………………… 19 Recent Sales at Ford ………………………………………………………... 20 Sales Comparisons (Most Recent Fiscal Year) …………………………….. 21 Recent Stock Performance …………………………………………………. 21 Summary of company valuations …………………………………………... 22 Dividend Analysis ………………………………………………………….. 23 Profitability Analysis ………………………………………………………. 23 Profitability Comparison ………………………………………………….... 24 Inventory Analysis …………………………………………………………. 24 Research and Development ……………………………………………….... 25 Financial Position …………………………………………………………... 25 GLOBAL STRATEGY…………………………………………………….. 26 4 SANDEEP SINGH Analysis of Strategic Alliance with Ford Ford’s Promotional Leadership …………………………………………….. 27 Ford Motor Company to increase its Investment in South Africa …………. 28 BRAND MANAGEMENT AT FORD …………………………………….. 28 Applications of Brand Management in Ford’s Globalised Structure ……….. 29 INDUSTRY ANALYSIS: GLOBAL SCENARIO ……………………………… 30 Overview 30 THE LARGEST CAR PARKS IN THE WORLD ………………………… 31 United States ………………………………………………………. 31 WESTERN EUROPE ……………………………………………... 33 Japan …………………………………………………….……….... 34 India …………………………………………………….………… 36 Rest of Asia ……………………………………………………….. 37 Future trends and outlook ……………………………………….………..... 37 Porter’s Model ……………………………………………………………... 38 Porter’s generic strategy …………………………………………………… 40 LITERATURE REVIEW ………………………………………………………... 41 INTRODUCTION TO STRATEGIC ALLIANCES ………………………. 41 Summary …………………………………………………………... 41 What is a business network? ………………………………………. 41 Why network? ……………………………………………………... 41 Characteristics of a business network ……………………………... 42 What do networks do? ……………………………………………... 42 Why network now? ………………………………………………… 44 MODES OF ENTRY INTO FOREIGN MARKET ………………………... 44 Different forms of strategic alliances …………………………….... 45 CHOOSING STRATEGIC PARTNER …………………………………….. 47 Alliances and Risk …………………………………………………. 48 MANAGING STRATEGIC RISK …………………………………………. 49 RELATIONSHIP RISK IN ALLIANCES …………………………………. 49 How companies can manage relationship risk ……………………... 49 Alliance strategy ……………………………………………………. 51 A dynamic approach ………………………………………………... 51 Alliance portfolios ………………………………………………….. 52 Build capability ……………………………………………………... 52 CRITICAL ANALYSIS …………………………………………………………... 54 ALLIANCE HISTORY …………………………………………………….. 54 A BRIEF OVERVIEW OF ALLIANCE ………………………………….... 55 Ford and Mazda ……………………………………………………. 55 5 SANDEEP SINGH Analysis of Strategic Alliance with Ford Ford and Nissan: A Brief Alliance Overview …………………….... 56 Technology frontier ………………………………………………… 56 Critical analysis of Ford’s alliances ………………………………... 56 LIMITATIONS …………………………………………………………………… 60 RECOMMENDATIONS …………………………………………………………. 61 CONCLUSION ……………………………………………………………………. 65 REFERENCES ……………………………………………………………………. 66 BIBLIOGRAPHY ………………………………………………………………… 67 APPENDIX ………………………………………………………………………... 68 COMPANY PROFILE FOUNDER : Henry Ford ESTABLISHED : 1903 SECTOR : Consumer Goods INDUSTRY : Auto Manufacturers – Major HEAD OFFICE : Ford Motor Co. One American Road Dearborn, MI 48126 United States Phone: 313-322-3000 Fax: 313-845-7512 6 SANDEEP SINGH Analysis of Strategic Alliance with Ford ORGANIZATION STRUCTURE CHAIRMAN : Mr. William Clay Ford Jr. CEO : Mr. Alan Mulally EMPLOYEES : 283,000 HISTORY Henry Ford IN 1903 Ford was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge, who would later found the Dodge Brothers Motor Vechicle company. Henry Ford was 40 years old when he founded the 7 SANDEEP SINGH Analysis of Strategic Alliance with Ford Ford Motor Company, which would go on to become one of the largest and most profitable companies in the world, as well as being one of the few to survive the great depression. The largest family-controlled company in the world, the Ford Motor Company has been in continuous family control for over 100 years. IN 1908 Henry Ford introduced the Model T. Earlier models were produced at a rate of only a few a day at a rented factory on Mack Avenue in Detroit, Michigan with groups of two or three men working on each car from components made to order by other companies. In 1919 Edsel Ford succeeded his father as president of the company, although Henry still kept a hand in management. Although prices were kept low through highly efficient engineering, the company used an old-fashioned personalized management system, and neglected consumer demand for improved vehicles. In 1939 The Nazis assumed day to day control of Ford factories in Germany.With Europe under siege, Henry Ford's genius would be turned to mass production for the war effort. In 1947 Henry Ford passed away. Ernest Breech was hired and became the Executive Vice President. Then later became Board Chairman in 1955. In 1950 Ford introduced the iconic Thunderbird in 1955 and the Edsel brand automobile line in 1958. Edsel was cancelled after less than 27 months in the marketplace in November 1960. The corporation bounced back from the failure of the Edsel by introducing its 8 SANDEEP SINGH Analysis of Strategic Alliance with Ford compact Ford Falcon in 1960 and the Mustang in 1964. By 1967, Ford of Europe was established. Lee Iacocca was involved with the design of several successful Ford automobiles, most notably the Ford Mustang. He was also the "moving force," as one court put it, behind the notorious Ford Pinto. He promoted other ideas which did not reach the marketplace as Ford products. Eventually, he became the president of the Ford Motor Company, but he clashed with Henry Ford II and ultimately, on July 13, 1978, he was famously fired by Henry II, despite Ford posting a $2.2 billion dollar profit for the year. In 1979 Phil Caldwell became Chairman, succeeded in 1985 by Don Petersen Harold Poling served as Chairman and CEO from 1990-1993. Alex Trotman was Chairman and CEO from 1993-1998, and Jacques Nasser served at the helm from 1999- 2001. Henry Ford's great-grandson, William Clay Ford Jr., is the company's current Chairman of the Board and was CEO until September 5, 2006, when he named Alan mullay Boeing as his successor. As of 2006, the Ford family owns about 5 percent of Ford's shares and controls about 40 percent of the voting power through a separate class of stock. The company expects to burn through $17 billion in cash before turning a profit. The action was unprecedented in the company's 103 year history. FORD PRODUCTS 9 SANDEEP SINGH Analysis of Strategic Alliance with Ford ➢ FORD SUPER DUTY 22380 47660 NA NA 3 Pickup Pickups ➢ FORD E-SERIES ➢ FORD TAURES ➢ Ford Taurus X ➢ Ford Ranger ➢ Ford Mustang Convertible ➢ Ford Fusion ➢ Ford Edge ➢ Ford F-150 25920 33600 NA NA 8 Vans Vans 23245 26845 10 SANDEEP SINGH Analysis of Strategic Alliance with Ford 18 28 5 Sedan Sedans Sync 13995 22485 21 26 3 Pickup Pickups 19250 31845 17 26 4 Coupe Performance,Coupes,Performance EXECUTIVE SUMMARY Alliances are the hallmark of contemporary corporate business. Different companies including a number of global giants, Global conglomerates and reputed business 11 SANDEEP SINGH Analysis of Strategic Alliance with Ford groups are entering
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