Analysis problem

Either pick the Ford Edsel example highlighted above or any monumental/major business failure of your choosing, and answer the following questions:A). If you choose a failure other than the Edsel, write an introductory paragraph describing the nature of the initiative, planning that was done, decisions that were made and the resulting failure.Explain how poor/inadequate planning may have contributed to portions of the failure.Be specific.Which of Ringbakk’s 10 reasons that cause plans to fail are reasons for failure for the Edsel or the failure you are choosing to write about?What aspects of the failure were completely unavoidable and the reasons they were completely unavoidable?In chapter 6, Certo speaks of needing to make decisions in conditions of risk and/or uncertainty. However, decisions still need to be made.Good planning includes risk management and mitigation plans. For Edsel or the failure you are writing about, explain what the company did or did not do to properly manage and mitigate risk.In hindsight (often being referred to as always “20-20”), what were the “fateful” decisions that contributed to the failure?What other decisions would you suggest the Company should have/could have made for a better outcome?If you were a consultant to the company at the time the company was planning, and the company took your advice to plan properly, would you still have recommended the initiative be implemented?Why or why not?More details required in the attachment, and if you need my book, i can email e-book to you.
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Management 300
Spring 2018
Marc Weiss
Assignment One
Planning
“Those who ignore the past are doomed to repeat it.” – George Santayana, philosopher
On “E-day”, September 4, 1957, The Ford Motor Company introduced the Ford Edsel. $400 million was
invested in the product’s development and launch (over $4.0 Billion in the 21st century).
Only a little over 63,000 Edsels were sold in its first year. 45,000 Edsels were sold in its second year. Only
2,846 cars were sold in its third and last year. Total Edsel sales were approximately 116,000 units (cars
were also sold into the Canadian market), less than half of the company’s projected break-even point.
The Company lost $350 million, or the equivalent of $2,756,449,772 in 2013 dollars.
The legacy of the Ford Edsel has been described as one of the most monumental failures of the
twentieth century.
-Chapter 5 of Certo covers Principles of Planning and Planning tools.
In the chapter, the author discusses the importance and advantages of proper planning. He covers steps
in the planning process and organizational objectives. Some examples of planning tools (forecasting, and
scheduling) are discussed. Lastly he covers a study by K.A. Ringbakk that lists 10 reasons that cause plans
to fail.
Chapter 6 of Certo covers Making Decisions.
Certo covers steps in the rational decision making process. He then covers decision-making conditions
of risk and uncertainty. He then shares decision making tools and the advantages and disadvantages of
group decision making.
——-Either pick the Ford Edsel example highlighted above or any monumental/major business failure of your
choosing, and answer the following questions:
A). If you choose a failure other than the Edsel, write an introductory paragraph describing the nature of
the initiative, planning that was done, decisions that were made and the resulting failure.
1) Explain how poor/inadequate planning may have contributed to portions of the failure. Be
specific.
2) Which of Ringbakk’s 10 reasons that cause plans to fail are reasons for failure for the Edsel or
the failure you are choosing to write about?
1
Management 300
Spring 2018
Marc Weiss
Assignment One
Planning
3) What aspects of the failure were completely unavoidable and the reasons they were completely
unavoidable?
4) In chapter 6, Certo speaks of needing to make decisions in conditions of risk and/or uncertainty.
However, decisions still need to be made. Good planning includes risk management and
mitigation plans. For Edsel or the failure you are writing about, explain what the company did or
did not do to properly manage and mitigate risk.
5) In hindsight (often being referred to as always “20-20”), what were the “fateful” decisions that
contributed to the failure? What other decisions would you suggest the Company should
have/could have made for a better outcome?
6) If you were a consultant to the company at the time the company was planning, and the
company took your advice to plan properly, would you still have recommended the initiative be
implemented? Why or why not?
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