Mulally took risks when necessary and challenged the organization to make changes. He has conviction and can generate critical mass, which are all important attributes of a great leader and a transformational leader (Taffinder, 2007)
Thus in this case, corporate bodies as well as state governments and non-governmental organizations are in a better bargaining position that retail buyers. Suppliers Bargaining Power In some instances, the bargaining power of suppliers emanates from their ability to significantly impact on the operations of market participants by either increasing the prices of goods and services or lowering the quality of the same (Henry, 2008)
Ford accompanied the other companies in 2008 to petition Congress to step in even though they had already secured private financing before the economic collapse happened, so they did not need federal money. Ford believed that all the companies had to be saved in order to preserve the industry supply chain and ultimately GM and Chrysler received federal funding for a managed bankruptcy and emerged stronger than before (Healey, 2012)
The domestic automakers tried to place some barriers to entry in their way. When Tesla tried to operate its own company-owned dealerships in several states many dealers filed suit against them alleging that they violate laws that are designed to prevent companies from opening their own sites to compete with independent dealers (Hindman, 2012)
This earthquake highlighted a flaw in the automotive industry's supply chain strategy. The loss of a single manufacturer of electronic sensors forced Ford and other companies to temporarily lay off workers at several plants (Lee & Pierson, 2011)
To do this they have implemented tough cost-cutting measures and introduced major purchasing incentives, such as steep discounts and favorable financing. Though Ford has tried to resist slashing prices and matching the other companies' buyer incentives as much as possible, they have also had to cut tougher labor deals with their unions and shutter some dealerships that were redundant within their dealer system (Vlasic, 2009)
To do this they have implemented tough cost-cutting measures and introduced major purchasing incentives, such as steep discounts and favorable financing. Though Ford has tried to resist slashing prices and matching the other companies' buyer incentives as much as possible, they have also had to cut tougher labor deals with their unions and shutter some dealerships that were redundant within their dealer system (Vlasic, 2009)
It can be achieved through adopting practices that are based on ethical and transparent reporting. Investor trust is also valued for long-term growth and investment requirements (Acharya, Gottschalg, Hahn, & Kehoe, 2013)
The survival of the company was sought through restructuring. Prior to restructuring the business had a brand name for defining the governance model adopted in the company (Ciravegna, 2012)
The transparency in the structure of shareholders is one of the significant components of good corporate governance. The shareholders should be clearly identifiable and opaque holdings of shares are eliminated (Fernando, 2009)
It is also highly important to note that the business also has to develop its own corporate governance plan as there is no single solution across the board. It is also not possible for the business to have a similar corporate governance plan across the industry (Giroud, & Mueller, 2010)
The customer needs and requirements are also placed at the center of new product development strategy. The balance sheet for the business should be improved through generating adequate amount of finance (Harford, Mansi, & Maxwell, 2012)
The small companies are also encouraged to gradually improve their corporate governance to raise investor confidence. The corporate governance plan should include the mechanism for forming and governing the committees that are responsible for providing the broad base of governance in the business (Mallin, 2011)
The corporate governance regulations including the committees responsible for the audit, risk management, remuneration, performance evaluation, buying selling securities, and corporate responsibility are major form of the governing bodies. Ford motor company also has an established policy for corporate governance and various rules and regulations are laid out to elaborate the functioning of the committees (Rittenberg, Johnstone, & Gramling, 2011)
It is also helpful in increasing the investor confidence. The business commits to reflect their responsiveness towards their shareholders and respond to the stakeholder's concerns (Solomon, 2011)
It is also noted that key to business and organizational growth is dependent on the accuracy and strength of defining, developing, and implementing accurate corporate governance plans. These plans are also essential for shareholder's confidence and transparency in reporting (Spitzeck, & Hansen, 2010)
The regulators are particular in highlighting the importance of effective rumination strategies. The implementation of corporate governance plan is assessed in terms of its commitment to the long terms strategy (Strine Jr., 2010)
There are similar "issues" to explain: water, the sky, stars, weather, seasons, the movement of the sun, etc. -- all part of the functional consciousness of discovery -- whether that be stories in front of the evening fire to pass the time and culturally educate, or to set some sort of order for society and a way to organize thought and action (Bierlein, 1994) REFERENCES Bierlein, J
These seemingly universal tales all share one significant element: they answer a fundamental question. How did we get here? Why do our fields yield us a bountiful harvest one season and leave us to starve the next? (Campbell, 1991)
From the lowest of the four caves of the earth, the seeds of men and animals were incubated as eggs. The Creator provided enough warmth that the eggs were hatched and all living creatures were produced (Cushing, 2007)