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Good morning Mr Herman Tse (CEO) & Shareholders
Fisker Automotive
Jai Ho Consultative Experts Always Aim for The Moon
Our Expertise
Yessica Valderamma / Magnus Holm / Rakeysh Chavan / Faisal Alfawaz/ Jimmy Stretz
AgendaLove Never DiesPress ConferenceStrategic LeadershipStrategic Leadership FrameworkLewin’s Force Field AnalysisRecommendations
http://www.youtube.com/watch?v=IxusHAgEdkc
Love Never Dies
Press Conference With Henrik Fisker
What are the main leadership issues at Fisker Automotive?
Our findings include these leadership problems:
Reliance on intuition
Focus on personal interests
Setting unrealistic goals
Lack of emphasis on quality
Failure to recognize external threats and adapt to changes
Strategic Leadership“Strategic leadership is a person’s ability to anticipate,
envision, maintain flexibility, think strategically, andWork well with others to initiate changes that will create
a viable future for the organization”.
Strategic Leadership
But how do weget started?
New Mission: “to sustainably manufacture responsible luxury electric automobiles to sell for the profitability of our company and a return to our shareholders”.
New Strategic Vision: “To be the leader in designing, manufacturing, and selling of premium luxury automobiles through innovative design, sustainable manufacturing and direct selling”.
Strategic S.M.A.R.T GoalsSell 6,300 Karmas starting at $90,000 by 2014.
Establish sustainable domestic manufacturing plant in the U.S by 31st of December 2013
Drive major innovation in battery technology through the modernization of production. First battery prototype produced by December31st, 2014.
Prioritization of Objectives
Become profitable & Pay back shareholders
Implement direct selling
model
Modernize manufacturing
Creating innovative
design
Strategic Management Framework
Environmental ScanningCompetitive AdvantagesSkills For Success SWOT AnalysisBusiness Strategy ReviewDecision/Timing
Environmental Scanning Political FactorsEconomic FactorsSocial FactorsTechnological Factors
Competitive AdvantageCore Competencies
Strategic LeadershipSelling/ customer service expertiseModernized manufacturing intelligenceInnovation design knowledge
Skills for SuccessAnticipate. Challenge. Interpret. Decide. Align.Learn.
S.W.O.T. Analysis
Strengths Innovate design Direct selling business model Modernized manufacturing Strategic Leadership Commitment to green
Weaknesses Lack of capital Brand recognition Tarnished history Unorganized procurement system
Opportunities Niche luxury electric market Lack of competitors Fluctuating gas prices
Threats Supplier technology Legal Complications Consumer spending habits
Business Strategy Review
Develop on core competencies
strategic leadership modernized manufacturing intelligence selling / customer service expertise innovation design knowledge
After shareholder payback & company profit
switch to growth strategy
Decision & Timing30 days decision period Implementation commencing immediately Should be a collaborative process
Implementation of Strategy
Force Field Analysis
Highlights… vi: Short-term wins:Selling 1050 Karmas by first quarterEstablishing domestic manufacturing plantSales promotion for brand awarenessMass orders to limited suppliers
Vii: Consolidate gains, create major change: Implement new reward system Invest in education and trainingRecruit and retain brilliant talent
Recommendations1. Implement strategic leadership after given decision period.2. Articulate a new mission statement, strategic vision statement and SMART goals & objectives.3. Use strategic management framework to formulate organisational change.4. Use the core competencies business strategy to achieve objectives and goals.5. Use force field analysis to implement organisational change.
Q & A
Jai Ho !!!
ReferencesAppelbaum, S., St-Pierre, N., & Glavas, W. (1998). Strategic organisational change: the role of leadership, learning, motivation and productivity. Managament Decision, 35(5), 280-301. Beene, R., & Nelson, G. (2013, April 29). Big plans, bad karma: How Fisker fell apart [Press release]. Retrieved from http://www.autonews.com/apps/pbcs.dll/article?AID=/20130429/OEM05/304299965/big-plans-bad-karma-how-fisker-fell-apart#axzz2S2DBrgGcChange mangement-coach. (2013). Force Field Analysis - Kurt Lewin. Retrieved from: http://www.change-management-coach.com/force-field-analysis.htmlCocheu, T. (1993). Strategic leadership. Executive Excellence, 10(6), 18-20. Fisker Automotive. (n.d.). Fisker Automotive. Retrieved from http://www.fiskerautomotive.com/TEAM.shtml#King, D. (2013). Fisker hires bankruptcy team after worker furlough [Press release]. Retrieved from http://green.autoblog.com/2013/03/31/fisker-hires-bankruptcy-team-after-worker-furlough/Lussier, N., & Achua, F. (2009). Leadership theory, application and skill development. Mason Ohio, South Western: Cengage Learning. Lussier, N., & Achua, F. (2012). Leadership theory, application and skill development. Mason Ohio, South Western: Cengage Learning. Nuñez, M. (2007). Strategies for leading change in the automotive industry. ProQuest Dissertations and Theses, 177-n/a. Retrieved from http://search.proquest.com.libraryproxy.griffith.edu.au/docview/304707054?accountid=14543. (304707054).Ramsey, M. & Terlep, S. (2012, December 7). Fisker Hires Investment Bank to Raise Needed Cash [Press release]. Retrieved from http://online.wsj.com/article/SB10001424127887324640104578163470662104666.htmlRowe, G. (2001) Creating Wealth in Organizations: The Role of Strategic Leadership. The Academy of Management Executive (1993-2005), 15(1), 81-94. Retrieved from http://www.jstor.org/stable/4165712.Simon, A., Kumar, V., Schoeman, P., Moffat, P., & Power, D. (2011). Strategic capabilities and their relationship to organisational success and its measures. Management Decision, 49(8), 1305-1326. doi:http://dx.doi.org/10.1108/00251741111163133Schoemaker, H., Krupp, S., & Howland, S. (2013). Strategic Leadership: The Essential Skills. Harvard Business Review, 91(1), 131-134.U.S. Department of Energy. (16 May 2013). Federal Tax Credits For Electric Vehicles [Press release]. Retrieved from http://www.fueleconomy.gov/feg/taxevb.shtml