Introduction – Toyota and Ford SWOT Analysis
Toyota is on one of the biggest auto manufacturers globally it involves itself in the production and sales of motor vehicles. It also engages itself in market financing as well as other businesses. The company sells its products in over 170 regions and countries globally (Kato & Smalley, 2011). Toyota motors major markets include North America, Asia, Japan and Europe. Its headquarters are in Toyota city, Japan with a workforce of 300000 employees (Kato, 2011). Toyota and Ford SWOT Analysis .
Ford is a multinational American auto manufacturer with its headquarters in Dearborn, Michigan which is a suburb of Detroit. The company’s founder is Henry Ford and the company was incorporated in 1903. Ford sells commercial vehicles and automobiles under the Lincoln and ford brands (Banham, 2003). The company has also in the past produced tractors, automotives and heavy vehicles. According to Kotler, Berger and Bickhoff (2010), Ford is the 2nd largest automaker in the US and 5th largest in Europe by the end of 2010. Toyota and Ford SWOT Analysis .
Fords Economic Reduction Strategy
The company needs to introduce an effective cost-cutting strategy that focuses on reducing the operation costs. The strategy can be achieved by cutting down the number of employees with an effective utilization of the remaining workers (Thompson, 2010). Ford should also capitalize on restructuring programme to reduce production costs. This move can be achieved reforming its engineering processes in order to save on the manufacturing expenses. By reducing the costs, Ford will achieve a sound financial performance and therefore good profits (Hayes & Walter, 2005). Toyota and Ford SWOT Analysis .
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