Ford Motor Company

 

Assignment On Investment Orientation Strategic Management Of Human Resource HRM 416, Sec-1

Submitted To: Silvia Alter Assistant Professor Department of Business Administration East West University

Submited by:

Bayed Husain Chowdhury 2016-3-10-071 Mohaimenul Haque Rony 2016-2-10-015

Dae – 24-02-2020

 

Table of Contents History:...................... History:....... .............................. ............................. ............................. ............................. ............................. .............................. ............................. .......................................... ............................ 2 Management Values:.......................... Values:........................................ ............................. .............................. ............................. ............................. .............................. ............................. ................. ...2 2 Does the ford see its employee as being central c entral to its mission/strategy?........................................ mission/strategy?...............................................2 .......2 Do the company s mission statement and strategic objecves, both company-wide and within ’

individual business units, espouse the value of or even menon human assets and their roles in achieving goals?....................... goals?..................................... ............................. .............................. ............................. ............................. .............................. ............................. ........................3 ..........3 Does the management philosophy of the organizaon encourage the development of any strategy to prevent the depreciaon of its human assets or are they considered replicable and amorzable, like physical assets?........................ assets?....................................... ............................. ............................. .............................. ............................. ............................. ................................ ....................... ...... 3 Atude Toward Risk:.......................... Risk:......................................... ............................. ............................. .............................. ............................. ............................................. ............................... 3 Nature of Employee Skills:....................... Skills:...................................... ............................. ............................. .............................. ............................. ............................. ........................... ............ 4 Ulitarianism:..................... Ulitarianism:...... ............................. ............................. .............................. ............................. ............................. .............................. ............................. ................................. ................... 4 Availability of outsourcing:....................... outsourcing:...................................... ............................. ............................. .............................. ............................. ........................................4 ..........................4 Conclusion:..................... Conclusion:...... ............................. ............................. .............................. ............................. ............................. .............................. ............................. ..................................... ....................... 5

 

THE Factors Of Ford Motor That  Inluence The Decision Of Higher Management To Invest On HR History: Ford Motor Company is one of the world's largest automotive companies. 1903 founded by Mr. Henr He nry y Ford Ford in the the U. U.S. S. ci city ty of Detr Detroi oit. t. Now Now Ford Ford Moto Motorr Comp Compan any y is th thee world world's 's su supe perrmultinati mult inationals onals headquartered headquartered in Dearborn, Michigan. Michigan. Here at Ford, employees are the driving driving force behind Ford’s success. Ford’s recent financial recovery can be attributed in large part to the dedication and strong performance of Ford’s workforce, which pulled together under Ford’s ONE Ford plan to restructure and return Ford’s North American operations to profitability. The same plan is currently guiding Ford’s restructuring efforts in Europe, where Ford made the difficult decision to close two U.K. facilities in 2015 and end production at a major assembly  plant in Genk, Belgium, at the end of 2019.  Now the factors of Ford Motor Company which influence the decision of higher management to invest on HR.

Management Values:  Management Management may or may not have an appreciat appreciation ion of the value of  its human assets relative to other capital assets, such as brand names, distribution channels, real estate, facilities and equipment, and information systems. The extent to which an organization can be characterized as investment-oriented may be revealed through answers to the following questions:

Does the ford see its employee as being central to its mission/strategy? Yes, FORD Keeping their employees engaged with their Company overall, and encouraging them to stay connected with their peers and their communities, is an essential component of their   people strategy here at Ford. They believe it’s important to communicate with their workforce in ways that are open and transparent. They do so through a variety of interactive forums, from “town hall” meetings to intranet surveys and chats, from joint labor-management committees to diversity councils. They also use several publications, such as plant newsletters and their @Ford magazine, to communicate the latest information on the state of the Company and their products. In rece recent nt ye year ars, s, they they have have al also so incr increa ease sed d thei theirr us usee of so soci cial al medi mediaa ap appl plic icat atio ions ns,, su such ch as Facebook, to inform and connect with their employees.

 

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Do the company s mission statement and strategic objectives, both companywide and within individual business units, espouse the value of or even mention human assets and their roles in achieving goals? YES, FORD While they have many types of employees and work arrangements, all of their  employees emplo yees together create a skilled skilled and motivated motivated team aligned aligned around their overall ONE Ford objectives. Their ONE Ford Goal aligns their efforts toward a common definition of success. Havi Ha ving ng ONE ONE Te Team am,, ONE ONE Plan Plan an and d ONE ONE Goal Goal for for an ex exci citi ting ng,, vi viabl ablee Fo Ford rd th that at de deli live vers rs  profitable growth for all. ONE Ford also provides consistent goals and expectations for  employees whether they work in the U.S., China or one of their other global locations – with a clear focus on the skills and behaviors they must demonstrate to accomplish their goals. All members of their global team are held accountable for incorporating ONE Ford into their daily work. They have integrated ONE Ford into their people processes to support employee development and drive drive account accountabil ability ity for moving moving the Compan Company y forwar forward d while while demons demonstr trati ating ng expecte expected d  behaviors that are fundamental to the success of ONE Ford: F: Foster Functional and Technical Excellence O: Own Working Together R: Role Model Ford Values D: Deliver Results Over the last few years, implementing the ONE Ford plan has meant that they have focused their  strategies on four key goals: creating a great place to work; developing a capable and effective workfo wor kforce rce;; aligni aligning ng their their organi organizat zation ional al str struct ucture ure with with their their global global busine business ss footpr footprint int;; and  providing the “people”- related processes to support their workforce.

Do Does es th the e ma mana nage geme ment nt phi hilo loso soph phy y of th the e or orga gani niza zati tion on en enco cour urag age e th the e development of any strategy to prevent the depreciation of its human assets or are they considered replicable and amortizable, like physical assets? Ford is one of the most ionic names in American automotive history. Ford offers financing through its ford credit division. Ford enjoys giving back to its hardworking employees and has a comprehensive benefits package to show appreciation. Motor ford also think that employee has a assest for the company. The company also provide health insurance benefit. Training is available for employee wanting to employee wanting to advance within the company. Full time employee receive 5 sick days each year. Offers paid maternity leave of 12 weeks and unpaid paternity leave of 12 weeks for new parents. Helps protect your income if you’re unable to work due to medical incapability. Covered for dental care at certain dental offices.

 Attitude Toward Risk:  The most fundamental lesson in financial management is that a trade-off exists between risk and return. Higher-risk investments are generally expected to have a greater potential return; lowerris risk, k, safer safer invest investmen ments ts are generall generally y expect expected ed to have a more more modest modest return. return. So thi thiss also also influences FORD to invest on their HR. They’re also focused on ways to develop our workforce of the future. Looking ahead, they will need to fill an increasing number of positions with highly

 

skilled individuals who have backgrounds in specialized and technical fields of study. Yet, they recognize an impending shortage of candidates with these skills.

Nature of Employee Skills:   Certain Certain organizati organizations ons require require employees employees to develop develop and utili utilize ze very very specia specializ lized ed skills skills that that might might not be applica applicable ble in another another organi organizat zation ion;; anothe another  r  employer might have employees utilize and develop skills that are highly marketable. People with wit h autism autism may have a diffi difficul cultt time time findin finding g a job that matche matchess their their skills skills.. Ford Ford Motor  Motor  Company Com pany is leadin leading g this this initia initiativ tivee to recogn recognize ize what what people people with autism autism can bring bring to the workforce. Ford has created five positions in the product development department that require  particular skill sets common in those with autism. For example, participants will log and prep tiress for test vehicles that engineers tire engineers use for product assessment. assessment. These are tasks requiring high attention to detail, focus, and organization.

Utilitarianism:  Util Utilit itar aria iani nism sm is a well well-k -kno nown wn br bran anch ch of co cons nseq eque uent ntia iali lism sm.. The The consequences that utilitarianism is concerned with is happiness. Whether an action is ethical or  not depends on whether the act an maximize the happiness at all affected person. It should be emphasized that happiness at all affected person. It should be emphasized that utilitarianism treats each person happiness equally. These programs and policies can be assessed quantitatively. Subjectivily as to the actual value of the benefit may make consensus on the overall value difficult. In applying utilitarianism principles to business ethics the cost benefit analysis ana lysis is most often used .it is a good decision making tool .Companies will attempt to work out how much something is going to cost them before taking action that should, ideally, result in consequences favorable to everyone. That would mean the company could make a profit, while the consumer benefited from their product. Hopefully, products are fit for purpose, safe and give value for money. No  business would attempt a project without evaluation of all attempt factors first as well as taking other issues or risks into account that might jeopardize success. Ethical business practice, using utilitarianism, would thus consider the good and bad consequence for everyone the action would affect treat everybody as having equal right, with no bias towards self and would use it as an objective quantitative way to make a moral decision.

 Availability of outsourcing:  Ou Outs tsou ourc rcin ing g becom becomee a co comm mmon on pr prac acti tice ce fo forr many many companies and business. Outsourcing means the allocation of specific tasks by a contractor to third party specialists. Outsoursing comes in handy when a company or business cannot control and handle all the process internally. Outsourcing is the transfer to an external supplier of the technical process and human resources of a function that includes the management for the transferred staff.

 

Ford Motor Ford Motor Company Company,, a global global automo automoti tive ve indust industry ry leader leader based based in Dearbo Dearborn, rn, Michig Michigan, an, manufactures or distributes automobiles across six continents. It is publicly traded company on the new York Exchange. The company has about 198000 employees and 90 plants worldwide with the automotive brands include ford and Lincoln. The Company also provides financial services through ford motor credit company. Ford has outsourced production to number of  external supplies outside the united states. Today about 70% at typical ford vehicle vehicle comes from from  parts, components compon ents and services purchased from exterenal suppliers. Even white collar jobs and de desi sign gn of futu future re ve vehi hicl cles es ar aree al also so outso outsour urce ced. d. It se sect ctor or ha hass al also so be been en ou outs tsou ourc rced ed.. Many Many  businesses in united states manufacture their product overseas. Without outsourcing manufacturing costs could escalate.

Conclusion:  Here after describing all the factors, we can say that Ford Company’s higher  management is influence to invest on HR. Here they engage employees company overall, and encouraging them to stay connected with their peers and their communities. They keep them on their mission & strategic decision. They also take risk to give their employee training whether  employee can switch the job. They also can provide special training by which they can increase  productivity. They also can outsource some external sources such as designer. So after  describing all the factors, these influence Ford Company’s higher management to invest on HR.

 

Contribution Table NO

Particulars

1

Management Values Question 1 & 2, Attitude Toward Risk, Nature of Employee Skills, Conclusion.

2

Management Values Question 3, Utilitarianism, Availability of outsourcing.

Members name

Bayed Husain Chowdhury

Mohaimenul Haque Rony