While that might bring joy to the hard-hearts on Bay and Wall Streets, it won't help Ford earn new customers. "We cannot win the hearts and the minds of a new generation with efficiency alone," Ford said. "We will win them by delivering the next generation of vehicles for the American roadway."
The company's commitment "must begin here in the United States," said Ford. "While we're a global company, our greatest challenges and the need for dramatic change are right here -- North America."
Notwithstanding that geographic starting point, Ford said the company "will drive innovation in all Ford Motor Company brands across the world, and we will use the power of our global operations to discover great ideas."
Innovation will therefore be "the lens through which we view our budgets and our capital investments, our people and programs, and the way in which we rank our most essential priorities," Ford promised.
"I believe innovation's the key to our success and it will distinguish this company in the marketplace," said Ford. "Starting today, starting now, starting here, we're restaking our claim. Innovation is ours."
While this stratagem is developing, Ford still faces challenges. "We still must navigate some rough patches financially in the months ahead as we move to strengthen our balance sheet, optimize our global footprint, accelerate our drive to deliver great products and to reduce our costs. Over the long-term, however, I do see light at the end of the tunnel."
The firm has a very strong cash position, Ford said, thanks particularly to the sale of the Hertz car rental business. "We're going to use the proceeds to strengthen our balance sheet," Ford said, "and to re-invest in our core business and, in particular, in growth areas of the world. And we have the resources, especially in our people, to make the improvements that will distinguish Ford in the world."
Ford said the vision of senior management is "to create a stronger, sustainable business model while improving launches, quality, warranty costs, safety, and technology adoption."
For the company to get this goal, not everyone who's at Ford now will be allowed to make the trip. "We will continue to make bold and decisive steps toward our future, including addressing the basics of capacity, cost structure, and our global footprint." That likely means fewer people and fewer plants around the world, with details to be announced later -- perhaps on October 20 as part of Ford's third-quarter earning report.
"But just getting to the right size, and the right locations, won't ensure our success," said Ford at the end of his speech. "Our organization can't just look different, it has to think and it has to act differently."
photo:Ford Motor Company
The company's commitment "must begin here in the United States," said Ford. "While we're a global company, our greatest challenges and the need for dramatic change are right here -- North America."
Notwithstanding that geographic starting point, Ford said the company "will drive innovation in all Ford Motor Company brands across the world, and we will use the power of our global operations to discover great ideas."
Innovation will therefore be "the lens through which we view our budgets and our capital investments, our people and programs, and the way in which we rank our most essential priorities," Ford promised.
"I believe innovation's the key to our success and it will distinguish this company in the marketplace," said Ford. "Starting today, starting now, starting here, we're restaking our claim. Innovation is ours."
While this stratagem is developing, Ford still faces challenges. "We still must navigate some rough patches financially in the months ahead as we move to strengthen our balance sheet, optimize our global footprint, accelerate our drive to deliver great products and to reduce our costs. Over the long-term, however, I do see light at the end of the tunnel."
The firm has a very strong cash position, Ford said, thanks particularly to the sale of the Hertz car rental business. "We're going to use the proceeds to strengthen our balance sheet," Ford said, "and to re-invest in our core business and, in particular, in growth areas of the world. And we have the resources, especially in our people, to make the improvements that will distinguish Ford in the world."
Ford said the vision of senior management is "to create a stronger, sustainable business model while improving launches, quality, warranty costs, safety, and technology adoption."
For the company to get this goal, not everyone who's at Ford now will be allowed to make the trip. "We will continue to make bold and decisive steps toward our future, including addressing the basics of capacity, cost structure, and our global footprint." That likely means fewer people and fewer plants around the world, with details to be announced later -- perhaps on October 20 as part of Ford's third-quarter earning report.
"But just getting to the right size, and the right locations, won't ensure our success," said Ford at the end of his speech. "Our organization can't just look different, it has to think and it has to act differently."
photo:Ford Motor Company
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