Boeing Business Strategy: Analysis of Plan & Objectives

Boeing Business Strategy: Analysis of Plan & Objectives

In this essay, you will find an analysis of Boeing’s strategic plan, its business plan, and its objectives. It was founded in 1916 in Seattle, Washington. In just a little over one hundred years, Boeing became the largest aircraft manufacturer. You might be wondering how this was achieved? Here’s the answer.

Boeing Business Strategy: Introduction

Today world in the global markets is hyper-competitive. Modern companies have to develop competitive strategic plans to be successful. Undoubtedly, the Boeing Company is one of the most potential companies in the aerospace industry. So, it has one of the most efficient and competitive strategies. Despite the economic crisis, Boeing was able to hold its leading position. Besides, it served the needs of communities around the world.

Boeing Company’s History

The Boeing Company is one of the largest aircraft companies in the world. It builds both military and aerospace products. Since its establishment in 1917, the company gained a lot of recognition.

The company launched its first commercial aircraft 707 in 1958. Since then, Boeing Company continued leading in the whole sector for commercial aircraft manufacturing. Boeing built 2,461 engines before production ceased in April 1968.

The product line of the company is very broad, including airplanes, jets, and military aircraft. This diversity allowed the company to prosper in the aerospace industry as well. Boeing’s most prominent clients include but not limited to the US government, Emirates, Aeroflot, AirFrance, and AirChina.

What Was the Problem with Boeing’s Strategic Planning?

Boeing faced issues with its strategic planning, notably with the 737 MAX program. Rushed development, emphasis on cost-cutting, and inadequate pilot training led to safety concerns and fatal crashes. A lack of transparency, communication breakdowns, and compromised regulatory oversight further compounded the problem.

In 2019, Boeing’s share price dropped significantly after several crashes of Boeing 737 MAX 8. All the airlines in the world grounded the plane. This and the coronavirus pandemic of 2019-20 severely impacted the company.

Boeing’s Mission Statement and Vision Statement

Boeing is a quality and integrity oriented company. Devoted to serve global society and deliver world-class products, it follows its goals. Boeing’s mission statement reflects the core values of Boeing too. It reinstates the idea that people will be working together. Boeing will make sure it will connect with people to achieve its goals. It also states that it strives to be a global enterprise. Basically, it will be working with any type of regime and government to achieve its goals. Boeing’s customer-knowledge and engineering excellency are essential for realizing this vision.

Boeing’s vision statement has a very similar message too. The company aims to inspire its employees to work hard, reaffirming that they will be a part of the future. Boeing expresses that the employees will benefit from the success of the company.

What Are the Boeing Core Values?

Boeing has a long list of core values. On their official website, it says that the values define the company. They show the direction of where it wants to be. These values are integrity, diversity, and inclusion. Quality, safety, trust and respect, corporate citizenship, and stakeholder success are also crucial.

What Is Boeing’s Motto?

There is no one single motto of the Boeing Company. However, a business slogan associated with the brand is “Forever New Frontiers.” This slogan highlights the constant strive for innovation and development that the company has.

What Is Boeing’s International Strategy?

Boeing has employees and operations in over 65 countries and serves customers in more than 150 countries. Approximately 70% of Boeing’s revenue comes from outside the United States, including emerging markets. The company forms partnerships with local suppliers, universities, research institutions, and governments. Boeing uses its partners’ expertise and resources to enter new markets. In addition, to maintain its competitive edge in the global arena, Boeing continuously invests in research and development, seeking the best talent and technologies worldwide.

What Is Boeing’s Competitive Advantage?

One of Boeing’s competitive advantages is that it’s a global company with a strong international presence. It has tight relationships with companies worldwide, which lets Boeing deploy successful