In class Exam 2 Essay Example | Topics and Well Written Essays - 1500 words

In class Exam 2 - Essay Example The company set a number of financial goals in order to meet its goals and objectives. In fact, the financial policies created by the organization enable it to adhere to the firm’s strategic plans as well as control the growth of the company. This financial policy determines whether the earnings of the company increases or decreases within a given financial period or fiscal year. The financial policies also incorporate a global product strategy whereby it leaned out its manufacturing operations in order to create a flexible manufacturing operation that saved on the costs of operations as well as resulted in the faster development of its products. In addition, this global product strategy also led to development of efficiencies in the delivery of the company’s new technologies especially within its core markets. This is majorly due to the worldwide integration of the automotive industry, which greatly influenced a variety of policies, practices and strategies that the Fo rd automobile Corporation undertakes in order to succeed in its operations and business ventures. The company also shapes its functional strategies in consideration of the environmental policies adopted by the United States of America. The US has growing concern over the protection of the environment by instituting development of policies that are more inclined to the conservation of the environment. ... In fact, the company even stated on its website that it relies on a sustainable technology that advances to alternative fuel plans, as well as, lay out constructive plans in order to improve fuel efficiency in its products. In addition, the company also advances towards usage of bio fuels and electricity in designing their products. Strategy implementation at the company adopted incorporates the six sigma strategy whereby it follows a set of techniques, as well as, tools, which are handy in the improvement of processes of operations. Jack Welch became famous from his development of the six-sigma model, as it was his central strategy of implementing his business motives and processes. Jack Welch succeeded through the application of this model in his business strategies while at the controlling seat at the General Electric Company in 1995. The six-sigma model is a good way of creating synergies across the organization in order to increase the probability of the buy-in mission of the co mpany, as well as, create an effective alignment of resources that would lead to increased productivity in the company. The alignment of resources as well as development of other concerned factors will make the business improve its functions and performance. The six-sigma model enabled the former chairperson as well as the chief executive Officer of the General Electric Company (GE) to turn the productivity of the company from 1981 to 2001. This transformation was very magical as it dramatically changed the productivity of the company by increasing its market value from a market value of $ 14 billion to $ 410 billion during the tenure of Jack Welch, all thanks to the use and application of the