Boeing Company's Goals and Actions
Abstract This paper analyzes the goals and actions of Boeing by analyzing its critical success factors as well as its strategic roadmap.
Introduction The Boeing Corporation is one of the largest manufacturers in the world. Rivaled only by European giant Airbus in the aerospace industry, Boeing is a leader in research, design and manufacture of commercial jet airliners, for commercial, industrial and military customers. Despite enjoying immense success in its market and dominating an industry that solely recognizes engineering excellence, it is crucial for Boeing to ensure continued growth through consistent strategy formulation and execution to avoid falling behind in market share to close and coming rivals. Boeing's goals are twofold: To understand and to take advantage of marketplace changes, and to reduce waste and increase optimal usage of its resources. Boeing's Critical Success Factors are crucial to understanding how the aerospace firm formulates its goals and implements its actions by creating a measure of success. Boeing's plan goals and implementation roadmap will then be outlined and analyzed.
Critical Success Factors Critical success factors can be used to guide a business in creating and measuring success. A Critical success factor is defined as the identification of a key area where successful performance is required in order for the business to achieve its goals. Identifying critical success factors can help a business identify the tasks and requirements needed for success (Austin, 2002). Development of critical success factors allows a business to measure success and prioritize goals in a way that is meaningful to the business. In "Strategic Thinking: A Four Piece Puzzle", by Bill Birnbaum, he states that it is important to keep the list of key critical success factors to tow or three at the most. Many teams make long lists of ideas on what a company should address in planning which results in the team being unable to focus on a plan.
Introduction The Boeing Corporation is one of the largest manufacturers in the world. Rivaled only by European giant Airbus in the aerospace industry, Boeing is a leader in research, design and manufacture of commercial jet airliners, for commercial, industrial and military customers. Despite enjoying immense success in its market and dominating an industry that solely recognizes engineering excellence, it is crucial for Boeing to ensure continued growth through consistent strategy formulation and execution to avoid falling behind in market share to close and coming rivals. Boeing's goals are twofold: To understand and to take advantage of marketplace changes, and to reduce waste and increase optimal usage of its resources. Boeing's Critical Success Factors are crucial to understanding how the aerospace firm formulates its goals and implements its actions by creating a measure of success. Boeing's plan goals and implementation roadmap will then be outlined and analyzed.
Critical Success Factors Critical success factors can be used to guide a business in creating and measuring success. A Critical success factor is defined as the identification of a key area where successful performance is required in order for the business to achieve its goals. Identifying critical success factors can help a business identify the tasks and requirements needed for success (Austin, 2002). Development of critical success factors allows a business to measure success and prioritize goals in a way that is meaningful to the business. In "Strategic Thinking: A Four Piece Puzzle", by Bill Birnbaum, he states that it is important to keep the list of key critical success factors to tow or three at the most. Many teams make long lists of ideas on what a company should address in planning which results in the team being unable to focus on a plan.
References: Author Unknown. (November, 2005) 2005 's main goal: Executing on the Business We Have. Boeing Frontiers, vol 05, Issue #11 downloaded on 10/13/06 from http://www.boeing.com/news/frontiers/archive/2005/november/i_st.html Author Unknown. (August, 2006) Boeing in Brief – Boeing 2005 Annual Report Downloaded on 9/24/06 from http://www.boeing.com/companyoffices/aboutus/brief.html Author Unknown. (September, 2006) Boeing – The Boeing Company downloaded On 9/24/06 from http://en.wikipedia.org/w/index.php?title=Boeing&printable=yes Author Unknown. (July, 2006) The Boeing Company – company profile. Downloaded on 9/24/06 from UOP library Austin, Daniel (2002) Understanding Critical Success Factor Analysis. Downloaded on 10/17/06 from http://www.w3.org.202/ws/arch/2/04/UCSFA Birnbaum, Bill (2004) Strategic Thinking: A Four Piece Puzzle. Douglas Mountain Publishing. Boeing Corporation Analysis Paper, retrieved on October 15, 2006 http://www.cse.ucsc.edu/~callon/boeing.html