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Months ago, I published a post on another blog I write for about the fate of GM, Ford and Chrysler. I received a lot of negative comments on that post from people who disagreed with my assertion that mismanagement brought about the failure of the Big 3 U.S. auto manufacturers — specifically, focusing on short term gains rather than long term strategy. It’s a trap that executives and managers everywhere fell victim to as stockholders demanded double-digit growth year after year.
There’s a reason why GM, Ford and Chrysler found themselves circling the drain. I think this chart says it all. The only surprising thing is that GM, Ford and Chrysler survived as long as they did before they tanked.
The lesson for marketers to learn is this — don’t be the blue lines in this chart. It shouldn’t take a decade to make the necessary changes to reverse those market share trends.
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Susan Gunelius
Susan Gunelius is President & CEO of KeySplash Creative, Inc. and Founder & Editor in Chief of an award-winning blog, WomenOnBusiness.com. She is a 25-year veteran of the marketing field and has authored 10 books about marketing, branding, and social media, including the highly popular 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing.
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Talk about a picture being worth a thousand words! I can understand people in the U.S. manufacturing sector being up in arms regarding the failure of the big three, but they’ve fallen victim to their own greed & ineptitude; it’s just a shame that they’re taking down so many employees, families, even whole communities and ways of life with them.
I find myself repeatedly wondering why the U.S. can’t compete with foreign manufacturers. Is it simply that foreign workers don’t earn a “living” wage; in which case we’ll never be able to compete and yet allow our workers to maintain an acceptable standard of living? I’m sure the issue is more complex than that or corporate greed. Is arrogance and a reluctance to change to blame for our inability to complete in a global economy? I just don’t know…
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