Engineering Management Case Studies

In 2024, the global economy experienced unprecedented volatility, marked by inflationary pressures, supply chain disruptions, geopolitical tensions, and fluctuating energy prices. These factors created significant challenges for industries around the world, forcing businesses to adapt to an unpredictable economic environment. One company that faced these difficulties head-on is Ford Motor Company, a major player in the global automotive industry. This case study examines the economic instability of 2024, focusing on how Ford managed the impact on its operations, the strategies it employed to mitigate risks, and the key lessons learned. Through this analysis, we will also provide recommendations on how businesses can navigate future economic disruptions and prevent long-term damage. Background: Economic Instability in 2024 Several factors contributed to the economic instability of 2024: Inflation: Global inflation rates soared, driven by rising energy prices, increased labor costs, and...