Adam Aircraft

Introduction: This paper is about a company called Adam Aircraft that manufactures designs and ultimately intends to sell aircrafts in the aerospace industry. Rick Adam, a successful entrepreneur that has a passion for flying, established the company in the year 1993. Rick Adam identified a need in the market through analysis and research by various means. His passion for flying was fueled by his father that served in the US Air Force. Pilots and computer engineers socially surrounded Rick, which gave him an insight to knowing what the customer needed. According to the case, Rick described himself as a raging incrementalist in which he preferred to innovate one-step at a time. That was the drive behind his semi-conservative approach to the market because he believed the chances of failure could have dangerous effects on his company, which he personally funded at start. The market for airplanes has high barriers of entry and needs an enormous amount of capital because of the strict and expensive policies dictated by the authorities. Rick acknowledged the pitfalls of being a manufacturer in the industry, those included problems with designing, building, financing, and the long certification process. He also analyzed why many companies had tried to enter the market and failed, and why a few others succeeded. Those processes of marketing research lead Rick to discover new ways of approaching the aerospace industry.
The company’s mission statement was not mentioned in the case study. In considering the working environment and the market in general, Rick needed to dictate a mission statement for his company that would lead to a better evaluation of the company’s progress. The mission statement must address: 1. Efficiency 2. Quality 3. Customer satisfaction 4. Good Working conditions 5. Effectiveness 6. Customer Satisfaction Objectives: 1. The selling of 50 A500 jets, which is the required number for the company to