Search Ford Motor Company: There is also a short comparison between Ford and it closest competitor in the United States, General Motors. Data was collected from different sources such as, annual and quarterly reports, company websites, organizations such as the United Nations, along with independent sources.
Whether they are held monthly, quarterly or some other cadence, the comments from participants tend to be the same.
At least they had a decent movie on the flight. Like a broken record every meeting.
I recently sat with Lewis BoothCFO of Ford Motor Company, who along with the senior executive team is leading the successful turnaround and global repositioning of Ford. You probably know Ford was the only one of the Big Three US auto makers to refuse government bailout money, so they need to be efficient and effective in everything they do to save time and money.
One of the reasons for the effectiveness of these meetings is the discipline instilled in the group as a result of good leadership from Alan Mulally, a standard set agenda, clear and inviolate groundrules, and standard templates for all information updates.
Here are some of the groundrules that Ford senior team follows: Alan Mulally is very serious about this groundrule as he understands deeply that respect for the individual and trust are the foundations of an effective team. Everyone attends, either in person or via Webex I have a client where one of the senior team members refuses to travel to another location for their quarterly meeting — think about the hidden agenda They go through nearly slides in just over 2 hours as they review the entire business, but the trick is a common format and all new information is in blue, so they only need to focus on the blue material, not go over each slide in detail Each global region gets 10 min.
They truly are efficient! They then use the exact same slides for their next level reviews, so everyone in management knows the same basic information in the same format.
How effective are your business review meetings?
It might be time for a rethink!At Ford they have a BPR or Business Plan Review meeting every week that every business leader and functional leader attends either personally or remotely.
The global business environment and related topics like economy, labor, energy and technology sectors, demographic trends and the shape and size of competition are talked of at the meeting.
As part of the One Team approach, we have implemented a disciplined business plan process to regularly review our business environment, risks and opportunities, our strategy, our Plan, and identify areas of our Plan that need special attention and pursue opportunities to improve our Plan.
To measure the performance of this model, Ford should schedule periodical review and evaluation meetings. Recommendations for improvements should be noted along the way in order to be evaluated.
` The improvement of customer service and shareholder value should be the main aim of . Ford said it was postponing its investor meeting, previously scheduled for September, and will reschedule when more specifics can be shared on global redesign and restructuring. Excellent Customer Service: A Dozen Best Practices This paper examines business practices that focus on meeting and exceeding the needs and expectations of the of a company’s business plan.
This written plan should be based on customer input.
The customer. May 22, · Good day, ladies and gentlemen, and welcome to the Ford Business Plan Review conference call. My name is Katina, and I will be your coordinator for today. At this time, all participants are in a listen-only mode.
We will conduct a question-and-answer session towards the end of .