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Executive Chairman Bill Ford believes that CEO Jim Hackett will take action that will achieve the company goals, or that he will display high Multiple Choice O contingency O autocratic style. leader effectiveness. readiness. leader emergence.

Executive Chairman Bill Ford believes that CEO Jim Hackett will take action that will achieve the company goals, or that he will display high Multiple Choice O contingency O autocratic style. leader effectiveness. readiness. leader emergence.

Understanding Business
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
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Read the case about the Ford Motor Company and answer the questions that follow. Ford CEO Jim Hackett knows his leadership style is unorthodox. Hired in 2017, Hackett is also aware of the challenges that await him. With almost 200,000 employees globally, the $36 billion company currently is the subject of a criminal investigation into how it has certified vehicles for U.S. emissions standards, Ford announced that the situation may adversely affect the company, signaling more financial troubles ahead. Hackett has big plans for the automaker, though. By 2021, he projects Ford will have driverless car technology, and he has frequently visited Silicon Valley. The Motley Fool quoted Executive Chairman Bill Ford as stating: The fact is that we are in unprecedented times, both in terms of opportunities and potential landmines. I believe that we need a transformational leader who has done it, who has reimagined a company into a future and then brought that company along with him... Hackett's vision for the future includes an $11 billion restructuring plan, which contains boosting overseas operations. The company sees the new CEO as a change agent who will revamp their strategy. Hackett was formally at Steelcase furniture company for almost 20 years, where he is known for revamping the culture and maintaining profitability. During that time. his changes resulted in laying off 12,000 employees. However, he met with the laid-off employees and helped them with networking to find new jobs. Some were worried of the same when he arrived at Ford and say their fears were justified when a 7,000-worker layoff of white-collar employees was instituted soon after. Hackett focused on the "lean" aspect of these moves and resulting profitability. When confronted about his choice to institute logic-based, methodological decision making that didn't work in the first months at Ford, he said, "Shame on me." He stated that it caused too much anxiety. Part of the restructuring plan will give Americas Chief Joe Hinrichs and Europe Chief Jim Farley more autonomy over their own operations. Both will not focus specifically on their regions but on "global markets." So far, the Executive Board is pleased with their choice to hire Hackett. Executive Chairman Bill Ford believes that CEO Jim Hackett will take action that will achieve the company goals, or that he will display high Trou COD 5 11 Next >
Transcribed Image Text:Read the case about the Ford Motor Company and answer the questions that follow. Ford CEO Jim Hackett knows his leadership style is unorthodox. Hired in 2017, Hackett is also aware of the challenges that await him. With almost 200,000 employees globally, the $36 billion company currently is the subject of a criminal investigation into how it has certified vehicles for U.S. emissions standards, Ford announced that the situation may adversely affect the company, signaling more financial troubles ahead. Hackett has big plans for the automaker, though. By 2021, he projects Ford will have driverless car technology, and he has frequently visited Silicon Valley. The Motley Fool quoted Executive Chairman Bill Ford as stating: The fact is that we are in unprecedented times, both in terms of opportunities and potential landmines. I believe that we need a transformational leader who has done it, who has reimagined a company into a future and then brought that company along with him... Hackett's vision for the future includes an $11 billion restructuring plan, which contains boosting overseas operations. The company sees the new CEO as a change agent who will revamp their strategy. Hackett was formally at Steelcase furniture company for almost 20 years, where he is known for revamping the culture and maintaining profitability. During that time. his changes resulted in laying off 12,000 employees. However, he met with the laid-off employees and helped them with networking to find new jobs. Some were worried of the same when he arrived at Ford and say their fears were justified when a 7,000-worker layoff of white-collar employees was instituted soon after. Hackett focused on the "lean" aspect of these moves and resulting profitability. When confronted about his choice to institute logic-based, methodological decision making that didn't work in the first months at Ford, he said, "Shame on me." He stated that it caused too much anxiety. Part of the restructuring plan will give Americas Chief Joe Hinrichs and Europe Chief Jim Farley more autonomy over their own operations. Both will not focus specifically on their regions but on "global markets." So far, the Executive Board is pleased with their choice to hire Hackett. Executive Chairman Bill Ford believes that CEO Jim Hackett will take action that will achieve the company goals, or that he will display high Trou COD 5 11 Next >
Executive Chairman Bill Ford believes that CEO Jim Hackett will take action that will achieve the company goals, or that he will display high Multiple Choice O contingency. O autocratic style. leader effectiveness. readiness. leader emergence. E Say
Transcribed Image Text:Executive Chairman Bill Ford believes that CEO Jim Hackett will take action that will achieve the company goals, or that he will display high Multiple Choice O contingency. O autocratic style. leader effectiveness. readiness. leader emergence. E Say
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