Fighting through the worst of times (how Ford, Hormel Foods and General MetalWorks overcame the recession)

Article Type: Abstracts From: Strategic Direction, Volume 27, Issue 1

Cable J.Industry Week, June 2010, Vol. 259 No. 6, Start page: 24, No. of pages: 4

Reports how three US manufacturing companies, Ford, Hormel Foods and General MetalWorks developed robust business strategies to overcome the global financial crisis and recession to enable their companies to be well set for future growth. Explains how some manufacturers have managed to resist recessionary forces and keep their companies profitable and healthy in the midst of massive suffering in the manufacturing sector that has seen many layoffs, losses and bankruptcies. Reveals how Ford Motor Company recorded a profit through the implementation of a massive restructuring initiative, Hormel Foods leveraged its strong cash position to expand its product range while closely scrutinizing capital expenditures, and General MetalWorks, the custom metal fabricator, benefited from its long-term commitment to lean manufacturing practices. Concludes that the three case studies demonstrate how the worst economic environment can act as an incentive to spur some manufacturers to make greater efforts to overcome the obstacles in their pathArticle type: ViewpointISSN: 0039-0895Reference: 39AR227

Keywords: Case studies, Economic depression, Managerial strategy, Organizations, Recession, United States of America