Every week, Forbes magazine editors review a business-related book. The title of this week’s entry is “How Ford Bounced Back”, and reviews Bryce G. Hoffman’s work on how Alan Mullaly– who joined the Ford (F) team in 2006– has turned the company around in recent years.
Hoffman is a Detroit News reporter, and the company granted him unique access to offer perspectives as to how Mullaly has brought back the first titan of American automobiles. The book details Mullaly’s moves to drop Ford lines like Volvo and Mercury and instead invest in creating one, global Ford name and brand. Mullaly has succeeded and the recent Ford headlines have proved that he’s not done yet.
Ford will continue its foray into new innovative and progressive techniques to keep that global name alive and in good company. One instance is Ford’s new announcement that it will be teaming up with Dow Chemical’s (DOW) automotive group in order to cut the weight of its cars significantly by the end of the decade. The measure is being made to reduce energy used, and thus, increase fuel standards. With gas prices on the rise, it’s good to see Ford moving toward alternative ideas.
But most importantly, Ford is stepping outside the knowledge box of its own engineers and partnering with a company that knows its way around energy reduction and the manufacturing strategies needed to obtain this ideal. The partnership will only help to improve its line of cars.To continue reading, click here.