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Ford Motor Company

Essay by   •  November 21, 2011  •  Case Study  •  882 Words (4 Pages)  •  1,444 Views

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Ford Motor Company

Ford Motor Company is a top force in the automobile industry. It has really called for a lot in order for it to remain a leading force. Its CEO, Alan Mulally, has exemplary management reputation. And it doesn't stop there. Ford has highly qualified management and subordinate team. This is a company that has seen increase in net profits for the last three years. And it's not only focused in increasing production and profits but is also concerned with keeping the minimum environmental impact. Ford has attracted the attention of many companies by thriving in times of economic crises Ford has also been reported as one of the companies that have done well in risk management and worker protection. For this paper, we will focus on this area and find out what Ford is doing in managing its risks and protecting its workers. An important question would be "where is Ford beating other key players in the Automobile industry?"

In October this year, Ford announced a labor contract with United Automobile Workers in which it arranged to invest more money in U.S plants and to add more jobs. The union conserved pensions and health care and increased profit sharing for its members. Ford Company has not been left behind in offering health promotion and wellness programs purposed for enhancing the health and well-being of workers and their families. Ford Company has incepted blood pressure control program which has proved to be cost effective. Ford has approximately 400,000 employees worldwide but assists in insuring the health care of about 600,000 people in the U.S at a cost of $ 4 billion. In the company's Continuum of Care, it intends to make alterations so as to offer better health care management to its workers and decrease costs at the same time. This program has been developed to assist workers at a risk of developing health complications or those already struggling with chronic or acute illnesses. One of the critical aspects of this program is educating workers about medical matters they may encounter in the future. Ford also has wellness programs and wishes to achieve a rise in worker program participation. Ford Company strongly believes that one of the key aspects of health promotion is early management of risk (Hampton 56). The company is presently looking for novel methods of handling future worker heath care risks before the occurrence of illnesses.

Given that any business will always be exposed to risks, Ford has implemented a risk management strategy to deal with such issues. The company perceives these risks as being, strategic, compliance, and reporting risks. The Board of Directors is assisted by the Audit committee in managing reporting and compliance risk. The Finance Committee, the Sustainability Committee, the Compensation Committee and the Board all play a crucial role in managing the strategic risk. These risks include compensation and retention,

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