Globalization Bites Boeing

Mission Statement

“People working together as one global company for Aerospace leadership.” It is a simple mission statement, to the point, yet covering everyone involved with the company. Boeing’s core values include leadership, integrity, quality, customer satisfaction, employees, good corporate citizenship, and shareholders. For some businesses, this mission statement is too broad to be effective, but in Boeing’s case, it is broken down to cover every aspect of the company.

“Satisfied customers are essential to our success. We will achieve total customer satisfaction by understanding what the customer wants and delivering it flawlessly.” Boeing does a great job of designing aircrafts that customers order, but the delivery dates seem to vary greatly from start to finish. Globalization brings more competitors to bid for contracts that equate to jobs and security.

“Our business must produce a profit, and we must generate superior returns on the assets entrusted to us by our shareholders. We will ensure our success by satisfying our customers and increasing shareholder value.” Boeing does produce a profit, and their stock has increased in value over the past years. Stockholders are compensated with ample dividend payments, currently forty cents per share.

“We recognize that our strength and our competitive advantage is, and always will be, people. We will continually learn, and share ideas and knowledge. We will encourage cooperative efforts at every level and across all activities in our company.” Depending on what level of an employee you are looking at, generally the management staff sustains established careers while the machine workers come and go with demand. Boeing employs more than 160,000 people across the United States and in 70 countries, of which, more than 83,800 hold college degrees in every business and technical field. Employees are provided a safe work environment and are encouraged to develop ideas and get involved with decision making.

“We will strive for continuous quality improvements in all that we do, so that we will rank among the world’s premier industrial firms in customer, employee, and community satisfaction.” Quality control for products is outstanding and it begins with employees trained to be quality conscious. Boeing wants to maintain a competitive advantage by providing the highest quality, if not the cheapest, products for customers.

“We will be a world class leader in every aspect of our business – in developing our team leadership skills at every level; in our management performance; in the way we design, build and support our products; and in our financial results.” Industry leadership is a more recent concern for Boeing after losing contracts to Airbus and EADS. Global competition has put more pressure on a company used to winning contracts from its own government.

“Our commitments: Pioneering environmentally progressive technology reducing our environmental footprint.” The aviation industry is always hit hard on pollution from aircraft, so Boeing takes a step back and works on improving clean production technology. Boeing is committed to promoting environmental stewardship, complying with environmental laws, conserving energy, recycling, and improving their environmental management system. Targets have been laid out with measurements to check Boeing’s progress toward their goals.

Through Boeing’s values, all employees play a key role in achieving Aerospace leadership on a global scale. The company is also invested in the communities of employees by volunteering for Special Olympics events, donating to charities, and other involvement programs. Boeing does a great job in developing relationships with employees, customers, and stakeholders within their business environment.

Strategic Objectives

Boeing incorporates multiple strategic objectives into its overall business strategy. The main stated objective Boeing implements is to continuously develop new products and services. Plans to execute this strategic objective involve creating new, more efficient members of their commercial airplane family, arranging innovative customer-financing solutions, integrating military platforms through defense systems, and creating advanced technology solutions. Boeing has shown great success with this strategic objective through the design and development of their 787 Dreamliner. This new plane offers more seating, an upgraded interior design, and improved fuel efficiency. Boeing’s research and development expenses rose $572 million in 2007 alone. Also, the revenues of Boeing Capital Corporation continued to grow in 2007 due to the development of additional financing solutions for potential Boeing customers. In