Application of Management Accounting Assignment
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Added on 2021-06-18
Application of Management Accounting Assignment
Added on 2021-06-18
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Application of Management Accountingin a Manufacturing Company
Table of Contentsa)Introduction of the selected manufacturing company:.................................................................3b) Value Chain of Ford Motor Corporation.....................................................................................5C) Planning process of ford Motor Corporation:.............................................................................6d) Application of control in the chosen organization:.....................................................................7e) Example of decision making in the chosen company:................................................................8f) Summary of findings:...................................................................................................................9Reference:......................................................................................................................................11
a)Introduction of the selected manufacturing company:1. Name of the chosen organization:The chosen manufacturing company is the Ford Motor Company that is an Americanmultinational organization and the head quarter of the company is in Dearborn, Michigan whichis a suburban area of the city of Detroit(Ford Corporate, 2018). 2. Year of establishment:The organization was being established by Henry Ford in 1903.The organization sellsautomobiles and commercial vehicles under the brand name “Ford” and the Luxury segment ofcars of the organization are sold under the brand name of “Lincoln” 3. Mission & Vision:The Mission statement of the organization is based on the idea of One Team. One Plan and OneGoal which has been revealed under the leadership of CEO Alan Morally in 2008.Theunderlying meaning of the mission statement is that all the employees should work as a team toimplement the lean global model of the organization for ensuring generation of profitabilitythrough aggressive restructuring and the workers have to attain the goal of profitable growth inall operations of the organization.The global Vision statement of the organization Ford is that the people are working as a group toform a lean global organization so that FORD can attain the leadership position in the globalautomobile industry (Thompson, 2018). According t to the organization the satisfaction gained inthe automotive leadership is measured by the degree of satisfaction achieved by the customers,employees, investors, dealers, suppliers of the organization including the global community.Thus the three major points of the Vision statement of the organization are Attaining Global leadership
Giving importance to the stakeholdersAttaining lean business model4. Managerial highlights:A traditional corporate hierarchy exits in the organization. The Executive Vice Presidents reportsto the CEO .The Middle Managers reports to the Executive Vice Presidents. So the managerialstructure of ford follows the model of traditional business management that is based on theeffective top down approach.The operation of the Global Functional Groups of the organization is as follows:There exists a functional group in the organizational structure of Ford Motor Company Each ofthese groups represents a specific business function. The head of the functional groups is VicePresident. The major functional groups in organizational structure of Ford motor company are asfollows:Global Manufacturing and Labor AffairsGlobal Marketing, Sales and ServiceHuman Resources and Corporate ServicesQuality and New Model LaunchGlobal Product DevelopmentGovernment and Community RelationsGlobal PurchasingCommunicationsFinanceLegalAccounting
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