You are the CEO of US-based automotive major Ford motors in India. Your company is facing tough rivals like Hyundai & Kia Motors. You have been operating in India for several years. During 2021, there has been a steady decline in your revenues & profitability. Your market share has also fallen from 4.69% to 3.31% during 2021. Your competitors are eating into your market share slowly & steadily during Covid-19 pandemic times. (Please assume that the Covid-19 pandemic is over). a. What turnaround strategies can you suggest to arrest the decline of revenues & profitability of your company?

Answered: You are the CEO of US-based automotive…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Question

You are the CEO of US-based automotive major Ford motors in India. Your company is facing tough rivals like Hyundai & Kia Motors. You have been operating in India for several years. During 2021, there has been a steady decline in your revenues & profitability. Your market share has also fallen from 4.69% to 3.31% during 2021. Your competitors are eating into your market share slowly & steadily during Covid-19 pandemic times. (Please assume that the Covid-19 pandemic is over).

a. What turnaround strategies can you suggest to arrest the decline of revenues & profitability of your company?

Expert Solution

Step 1

The strategies of business forms its roadmap through which they are able to guid their workforce and resources. It offers them with planning of course of action that needs to be executed for utilisation and collaboration of resources. Strategies are of different natures depending upon its use such as tactical, operational, and crises strategy. Thus, it makes the business focused and on track for its long term goals.