American car and truck manufacturers General Motors and Ford are attempting to convince both consumers and stakeholders that they are heading towards a new, bright future. After the recall of millions of vehicles in recent months, the two former industry giants have faced an uphill battle in restoring profits.
General Motors CEO Mary Barra and Ford Motors CEO Mark Fields delivered passionate arguments to Wall Street earlier this week, explaining the new role their organizations will play in the future of the auto industry. The Wall Street Journal reported that their vision for the future will rely less on the health of the U.S. economy, and instead will pursue technological advancements that will reduce competitive divides and secure a leadership position in emerging markets.
Fields projected $1 trillion worth of growth in vehicle sales by 2020 for Ford, relying heavily on the company's success in emerging markets. In the past 15 years, a third of the organization's growth has come as a result of their success in these areas.
Barra was less willing to put a number to GM's growth projections, but still seemed confident about the company's changes finding a warm welcome. She went as far as to refer to GM as a "transportation solutions enterprise," which could point to changes in the company's production later down the line.
Undergoing organizational change and addressing consumer perception is often a long and involved process, that can present many challenges if not approached with the appropriate care.
Change management consulting can help organizations better anticipate and react to changes in the market, as well as provide the above-the-fray insight to address internal resistance to new processes.