Strategic and Operational Plans of General Motors
Strategic and Operational Plans of General Motors
Bethany Herman
MGT/521
October 27, 2014
Stephanie Edens
Strategic and Operational Plans of General Motors
General Motors is a Fortune 500 company that relies upon strategic and operational plans to ensure that the company is consistently growing and evolving. By using strategic and operational plans on a daily basis, General Motors can see these plans working to achieve a goal within the company. The company is also able to see what effect these plans have on the company as a whole.
One strategic plan that General Motors utilizes is to “lead in advanced technologies and quality in creating the world 's best vehicles” (General Motors, 2014). This strategic goal was put in place by General Motors in 2014 to set the goal of how to make the best vehicles in the world and to maximize profits by doing so. The strategy will achieve the goal of General Motors for wanting “to earn customers for life,” (General Motors, 2014) and will also be utilized on a yearly basis by changing the designs of vehicles and improving upon features that are already there.
The effect that this strategic plan will have on internal and external stakeholders is increased revenue, therefore possibly increasing the salaries and pay for the employees, better products for the consumers, more business for the distributors and suppliers, and more revenue for the financial institutions that finance the vehicles sold. The strategic plan set in place by General Motors this past year seemingly has worked based upon their profits and losses from this year. According to General Motors (2014), “GM ended the quarter with total automotive liquidity of $36.6 billion. Automotive cash and marketable securities was $26.1 billion compared with $28.4 billion for the second quarter of 2014.”
An operational plan that is utilized by General Motors is “to give employees more responsibility and authority and then hold them accountable,” (General Motors, 2014). This
Bethany Herman
MGT/521
October 27, 2014
Stephanie Edens
Strategic and Operational Plans of General Motors
General Motors is a Fortune 500 company that relies upon strategic and operational plans to ensure that the company is consistently growing and evolving. By using strategic and operational plans on a daily basis, General Motors can see these plans working to achieve a goal within the company. The company is also able to see what effect these plans have on the company as a whole.
One strategic plan that General Motors utilizes is to “lead in advanced technologies and quality in creating the world 's best vehicles” (General Motors, 2014). This strategic goal was put in place by General Motors in 2014 to set the goal of how to make the best vehicles in the world and to maximize profits by doing so. The strategy will achieve the goal of General Motors for wanting “to earn customers for life,” (General Motors, 2014) and will also be utilized on a yearly basis by changing the designs of vehicles and improving upon features that are already there.
The effect that this strategic plan will have on internal and external stakeholders is increased revenue, therefore possibly increasing the salaries and pay for the employees, better products for the consumers, more business for the distributors and suppliers, and more revenue for the financial institutions that finance the vehicles sold. The strategic plan set in place by General Motors this past year seemingly has worked based upon their profits and losses from this year. According to General Motors (2014), “GM ended the quarter with total automotive liquidity of $36.6 billion. Automotive cash and marketable securities was $26.1 billion compared with $28.4 billion for the second quarter of 2014.”
An operational plan that is utilized by General Motors is “to give employees more responsibility and authority and then hold them accountable,” (General Motors, 2014). This
References: General Motors. (2014). General Motors Careers. Retrieved October 24, 2014, from General Motors Website: http://careers.gm.com/about-gm/our-culture.html General Motors. (2014). General Motors Investors - Corporate Strategy. Retrieved October 24, 2014, from General Motors Company: http://www.gm.com/company/investors/corporate-strategy.html General Motors. (2014). Investors: Earnings Releases. Retrieved October 24, 2014, from General Motors Website: http://www.gm.com/content/gmcom/home/company/investors/earning-releases.content_pages_news_emergency_news_2014_10-23-earnings.~content~gmcom~home~company~investors~earning-releases.html