Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Strategic planning theory
Strategic planning theory
The concept and theory of strategic planning
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Strategic planning theory
Assignment: Management Planning Paper
Management Theory Practice and Application
With any company, organization, or corporation the first phase of any management is planning. This phase is very important to any company because many different planning functions and each planning function create a standard for each of its employees to follow. This paper will discuss the planning functions of management while looking at the Boeing Company. While looking at the different planning functions, this paper will also discuss and identify legal, ethical, and social responsibilities that impact Boeing. It will also show some factors that influence Boeings strategic, tactical, operational, and contingency planning. Boeing can be considered the perfect example company to show the many levels of management.
"Boeing is the world’s leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined. Additionally, Boeing designs and manufacturers rotorcraft, electronic and defense system, missiles, satellites, launch vehicles and advance information and communication systems" (Boeing 2007 par.1). Boeing is the world’s leading aerospace company because Boeing has one of the best planning strategies around. Because Boeing is one of the largest companies they fully apply all four functions of management, especially the first stage of planning when they set up their strategy to market their products. The Boeing Company has been very careful to make the most of good planning and decision making to reach their full potential and continue to grow bigger than they already are.
Ethical, Legal, & Social Responsibility
One ethical issue that has impacted the Boeing Company in recent years is public saf...
... middle of paper ...
...ss of new technology and products from innovation to operational, to productivity growth.
Conclusion
Boeing is a multi-billion dollar corporation which has used every available resource to ensure that it will remain one of the largest and leading aerospace technology producers. As this paper has suggested that Boeing has many factors that go into keeping a company of this size very profitable and the management phase has been critical to the profitability of Boeing. This paper has covered many aspects like legal, ethical, and social responsibilities that effect the Boeing companies strategic, tactical, operational, and contingency planning.
Reference:
McMurdy, D. (1996). The training game. Maclean’s, p.35. Retrieved March 1, 2008, from Academic Search Premier Database.
Boeing. (2007). Boeing in Brief. Retrieved February 29, 2008 from URL www.boeing.com
Boeing’s 787 design and development was truly a transformational outsourcing project. Boeing set out to create a new product, which was significantly different from what the company had been producing. Through this project, it aimed at creating a new business model for sourcing, assembling and producing aircrafts.
Lastly, by holding unlawful job negotiations with a Pentagon official, the Boeing former financial officer was seen to be breaching the utilitarianism principle. Moreover, concealing of the findings of the internal studies regarding gender’s pay further illustrates this ethical lapse in Boeing.
Despite the uncertainty and inherent risks, however, even if WACC exceeds IRR, the board may be well advised to accept the project. It's expected that in the first few years, Boeing will incur more expenses that income. The revenues will come at a later date when the 7E7 planes are delivered. The project will have to be evaluated periodically and management will have to make changes to ensure that the company is profitable based on current and future conditions. The board's prerogative is not to give Airbus a profit sanctuary' by not accepting the project but rather to maintain or increase its market in the industry even if it's not profitable in the shot-run. Boeing has deep pockets' and should be willing to challenge its competitors.
This paper analyzes the goals and actions of Boeing by analyzing its critical success factors as well as its strategic roadmap.
To achieve the above goals and fulfil Boeing’s mission, the following objectives will guide company:
Airbus and Boeing have developed similar capabilities, and an intense competition to be the number one in aviation. The market is a duopoly market, resulting in a low profit margin for both companies. There is slow industry growth in the aviation industry, and no clear market leader. The barrier to exit is high, which leads to intense rivalry between Airbus and Boeing.
Boeing has looked at everything from the design of the anti-collision lights, to the reduction of small gaps in the airfoil. This has created an aircraft that is extremely aerodynamic and efficient at any task it performs. The 737 was originally created on May 11, 1964, however it wasn’t until November 9, 1964 that production was officially approved. On February 19th 1965 Lufthansa placed its first order for the 737-100, and on the 9th of April 1967 the 737 flew for the first time. In 1970, Boeing had less than 35 orders for the 737 and considered canceling the program.
Technology Innovation: - Boeing should carefully analyze the market to evaluate the trends in the airline industry and aggressively invest in a new product line (top dog strategy) that could counter Airbus’s A380.
This paper focuses on the impact of Management of Information Systems (MIS) on Boeing. In this endeavor, it highlights the new technologies that will most likely impact on the organization and structure. In addition, the paper discusses possible impacts of new technological advancement on the company, to remain competitive in the face of the new technological developments. In this regard, the paper reflects on the possible strategies that Boeing is likely to adapt so that it remains competitive that is, by introducing new technological developments. Finally, with such a move of adapting or not adapting the new technology, this research paper looks at risks that are associated with both moves that the company might opt for.
As Boeing’s CEO, Frank Shrontz promised to increase earnings and return on equity. Boeing had a history of making money when its competitors did not, but Mr. Shrontz wanted higher returns. The airline industry was characterized by large cash outflows for R&D and manufacturing and long payback periods over long life cycles for each new airframe design. Companies had to have deep pockets to keep the operation going while waiting for a return on their investments. If Mr. Shrontz could increase the return on equity for Boeing, it would increase the likelihood of Boeing’s continued success well into the future.
Planning is an essential process in today’s organizations. Based on the three types of managers: top-level (strategic managers), middle-level (tactical managers), and frontline (operational managers), exist three corresponding levels of planning: strategic, tactical, and operational. The purpose of this essay is to focus on the strategic level of planning for the Ford Motor Company; a leader in the global automobile industry. Strategic planning, according to Bateman and Snell (2009), “involves making decisions about the organization’s long-term goals and strategies” (p. 137). This paper will elaborate on six key influential factors: economic, environmental, competition, foreign policy, domestic policy, and innovation; that shape this corporation’s strategic plan. Finally, a SWOTT analysis will be conducted covering the strengths, weaknesses, opportunities, threats, and trends, that the Ford Motor Company has in relation to its business environment.
To combat these and other issues that can arise due to a lack of training, the development of a training program will wan...
In management, each of the four functions, planning, organizing, leading, and controlling, are crucial to the development of any business. Involving employees in the planning process help them understand the goals of the organization. Planning is analyzing a situation, determining the goals that will be pursued, and deciding in advance the actions needed to pursue the goals. This paper will evaluate the planning function of the Halliburton Company and analyze the impact that legal issues, ethics, and corporate social responsibilities have on management planning along with examples of each, and analyze three factors that influence strategic, tactical, operational, and contingency planning.
Approaches to Training and Development. Cambridge, MA: Perseus Group, 2003. Print. The. Locke, Edwin A., and Gary P. Latham. New Directions in Goal-Setting Theory.
The first function of management is planning. Planning is a process that managers use to identify and involve goal setting and decide the best way to achieve the goal.(Bartol 2007) Planning connect the gap between where we do, where we intend to go. It predict the possible things to happen which would not otherwise happen (MSG 2012). There are several steps to the planning process, which are determine the goals of the organisation, evaluate the current position, consider possible future conditions, identify possible alternative actions and choose the best. Planning is the criteria thinking through goals and making decision to achieve the goal of the organisation’s objective, which requires a systematic way. Also objectives focus the managers how to achieve the final result as managers have to predict anything will happen, avoid the problem and fight back to competitors. An example of planning, which is the President Canon Inc Tsuneji Uchida and lead Canon Company become the no.1 in the global business (Canon.Inc 2011). Tsuneji Uchida has to understand what is the company objective and goal. First, make decision to protect the position and the aim of canon, improve the operation more diversity. Second, he creates the new design of camera and new technology, he plan to do these things to maximise profit.