What Alan Mulally did for Ford?
Mulally took over “The Way Forward” restructuring plan at Ford to turn around its massive losses and declining market share. Mulally’s cost-cutting initiatives led to the company’s first profitable quarter in two years. Dividends to shareholders were also suspended.
How Alan Mulally turned Ford around?
In 2006, when Bill Ford called him to take the helm at Ford, Alan was in the middle of developing the 787 Dreamliner airplane. Alan didn’t want to leave Boeing. Alan Mulally agreed to lead Ford, the American icon, in an attempt to save it from going under and turn it around.
What is the One Ford plan?
The so-called “One Ford” strategy enacted by former Ford Motor Company CEO Alan Mulally, which saw the automaker embracing greater commonality between products sold in disparate markets across the globe, has proven one of the most successful, enduring automotive strategies in recent memory.
When did Mulally take over Ford?
September 2006
Alan Mulally served as president and chief executive officer of Ford Motor Company and was a member of the company’s Board of Directors from September 2006 to June 2014. Mulally joined Ford in September 2006 and led Ford’s transformation into one of the world’s leading automakers.
What key things did Alan Mulally do at Ford as an organizational leader to shape Ford’s organizational culture?
Mulally focused on the basics. He had a list Core Values of how to run organizations. He honed them over 20+ years….How did he do it?
- People first.
- Everyone is included.
- Compelling vision.
- Clear performance goals.
- One plan.
- Facts and data.
- Propose a plan, “find-a-way” attitude.
- Respect, listen, help, and appreciate each other.
What makes Alan Mulally a good leader?
Leadership traits Mulally possessed – communication, commitment, drive, positive attitude, integrity, and decisiveness – helped him bring the company to success.
How did Ford CEO Alan Mullaly turn a broken company?
When Mulally took over as Ford’s CEO in September 2006, the company was clearly broken: Its stock price had fallen precipitously (the low was $1.01 a share in 2008), its debt was at “junk” status, and 2006 would go down as the worst year in its history with a $12.7 billion loss.
Why is the Ford plan still critical for Ford?
Based on one vehicle platform, many distinct vehicle models can be produced. Surprisingly, to increase its global product lineup targets, Ford has reduced its global platforms. Global platform consolidation under the One Ford plan has helped the company to reduce its vehicle development–related costs.
Where is Joe Hinrichs now?
Hinrichs has joined the board of WaveSense Inc., a Massachusetts startup that is developing ground-penetrating radar to guide self-driving cars. The startup has nabbed another auto industry superstar, too, General Motors former CFO Chuck Stevens, who joins its advisory board.
What type of leader is Alan Mulally?
An example of Mulally as a leader grounded in becoming his “best self” can be found in his words about how to motivate, inspire, and lead others: “Leadership is having a compelling vision, a comprehensive plan, relentless implementation, and talented people working together.
Who saved Ford?
American Icon: Alan Mulally and the Fight to Save Ford Motor Company.
What style of leadership does Mr Mulally use?
Mulally’s Behavior Task-oriented leadership focuses on maintaining an approach that presents employees with a series of tasks they need to solve.
Where did Alan Mulally get his vision from?
Mulally’s vision took Ford back to its roots. He came across an ad Henry Ford had taken out in the Saturday Evening Post in 1925. Ford’s vision: opening the highways for all mankind. Although Ford did not invent the automobile, he transformed it from a rich man’s toy to a utility for the everyman.
What did Alan Mulally do for Ford Motor Company?
“Alan is all about evangelizing Ford through personal relationships, so it doesn’t surprise me that he called you,” Hoffman said. “He sees his role as cheerleader in chief.”
What was Bill Ford’s vision for the company?
In another handwritten note, Mulally gave us his and William Clay “Bill” Ford’s visions for the company. The notes were surprisingly brief. Bill Ford’s vision was “Great products, strong business, better world.” Mulally’s vision was “People working together as a lean global enterprise for automotive leadership.”
What kind of optimism does Alan Mulally have?
The power of optimism. Mulally is also relentlessly optimistic. Optimism is one of seven traits that all inspiring leaders share (see this previous article for the others). Even in the depths of the auto crisis in 2008, Mulally was the one who always had a smile on his face and a spring in his step.