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As a Vice President of a car producing company, what are some ways to improve business?

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bebe1213 | Student, College Senior | (Level 1) Honors

Posted July 31, 2012 at 7:11 PM via web

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As a Vice President of a car producing company, what are some ways to improve business?

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brettd | High School Teacher | (Level 2) Educator Emeritus

Posted July 31, 2012 at 8:32 PM (Answer #1)

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There are any number of ways an auto industry executive could improve the efficiency and profitability of his/her company, assuming they have the power to make any and all necessary changes.

Keeping labor costs down is a priority in such a situation.  Your company can become more competitive if you can renegotiate the contract with workers to lower expendituressalaries or benefits.  You can buy out higher paid long term workers and hire younger, cheaper workers to save money in the near term.  You could streamline the  sources of materials for your car production lines so they are cheaper and more efficient.  Most importantly, you can hire talentedengineers and marketers who can build quality products that consumers want.

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