The Restructuring of General Motors

What is General Motors new business strategy in to cope with the crisis

With the General Motor 's new CEO , Mr . Frederick Fritz ' Henderson 's determination to reorganize the company , and the US government 's strong effort to support the ailing businesses , recovery would be possible for General Motors

General Motors Corporation gets into supervised bankruptcy ' as the new strategy upon the advise of Steven Rattner , President Obama 's auto task force chief (Whoriskey . Bankruptcy is the term given once a company seeks for financial aide in form of loan from

the government however , this agreement involves direct intervention and manipulation of the government in the overall operation of the company bankruptcy is another President Obama 's strategy to help in the recovery of the economy of the United States . The initial impacts of this agreement between GM and US government are the firing of GM 's former boss Rick Wagoner and the formulation of new business plan for submission within sixty days

The new business plan , which was submitted to the US government in December last year constitutes new strategies and endeavor that will benefit in the recovery of General Motors Corporation . In the restructuring plan submitted to Senate Banking Committee and House of Representatives Financial Services Committee , new approaches are outlined with the hope to competitively dominate the market once again

First , GM is committed in the reduction in brand , nameplates and retail outlets aiming at giving substantial improvement on the company 's effort in customer satisfaction...