Filed under: Trends Ford Earnings/Financials

In an effort to assuage the fear of his employees over the current direction of Ford Motor Company Bill Ford sent out a company-wide memo on Friday that details a three-point strategy for ushering the Blue Oval out of hard times. The Detroit News describes the strategy in a nutshell as 1) fixing Ford's North American business 2) leveraging the company's global assets and 3) bolstering its leadership team from within and outside the company. Easier said than done right?

In the memo Ford admits the business strategy that fueled Ford for decades has stopped working (i.e. a myopic reliance on trucks and truck-based SUVs). In order to achieve profitability again in North America Ford has charged Mark Fields and his team with developing products that drive revenue and rapidly reducing costs as any CEO should we think. Mazda and Volvo will also apparently contribute more to Ford's North American turnaround than they have in the past. Ford's last point about leadership development is already in practice as the aforementioned Mark Fields president of the Americas for Ford has Bill Ford's new progressive policies to thank for his title.

Bill Ford's memo contains nothing that hasn't been suggested before but its purpose wasn't to unveil Ford's revised "Way Forward" plan which is due in detail later this month. The note to employees is rather an effort we believe to make workers at the company feel more like they're in the loop while Ford wrestles with changing his company's course.

[Source: The Detroit News]

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