1. In what three ways is Ford's proposed vision statement better than the firm's actual vision statement?

2. Evaluate the extent that the proposed mission statement for Ford meets the 10 characteristics and includes the nine components presented in the chapter.

Page 1 of 2 ZOOM + EVALUATE FORD'S VISION FOR THE FUTURE AND MISSION FOR THE PRESENT Ford Headquartered in Dearborn, Michigan, Ford is the second-largest U.S. automobile maker, behind General Motors, and the fifth-largest automobile maker globally. Ford is considering changing its vision and mission because of electric vehicles gaining such rapid prominence worldwide. The company foresees a day soon across the United States where you pull up at any gas station and either gas up or plug in to get charged up. Ford is behind nearly all automakers in electric product offerings and is losing ground. This gas up or plug in scenario already exists in some parts of the world. Ford's survival going forward may hinge on an assessment of the company's vision and mission statements. Current Vision Statement People working together as a lean, global enterprise to make lives better through automotive and mo- bility leadership. Proposed Vision Statement To be the global automotive industry leader through innovations in automotive transportation and service to customers, employees, and the environment. Key: Vision Statement Characteristics 1. Clear: reveals type of industry 2. Futuristic: reveals what the firm strives to become 3. Concise: one sentence in length 4. Unique: reveals the firm's competitive advantage 5. Inspiring: motivates the readers to support the firm Proposed Mission Statement Ford Motor Company strives to become the global automotive industry (3) leader delivering quality innovations to transportation (2) that meet the needs of our customers (1). We are dedicated to adapt- ing the latest technology (4, 7), including electric batteries, to facilitate change and social connectivity through transportation (6). Our highly-trained professionals (9) support our efforts for continued growth and profitability (5) while keeping our promise of environmental responsibility and sustainability in our communities (6, 8).Page 2 of 2 ZOOM + Y FORMULATION Key: Mission Statement Components 1. Customers 6. Philosophy 2. Product or services 7. Distinctive Competence 3. Markets 8. Public image 4. Technology 9. Employees 5. Survival, growth, and profitability Questions 1. In what three ways is Ford's proposed vision statement better than the firm's actual vision statement? Does the current or proposed statement meet the 5-out-of-5 test? If not, prepare a new statement. 2. Evaluate the extent that the proposed mission statement for Ford meets the 10 characteristics and includes the 9 components presented in the chapter. Source: Based on information at http://corporate.ford.com/company.html?gnav=footer-aboutford, coupled with a variety of other sources. Scanned with CamScanner