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comprehensive essay on swot analysis
comprehensive essay on swot analysis
swot analysis interface, inc. 2002
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The objective of this paper is to analyze and discuss some of the Boeing Company's business decisions using their strengths, weaknesses, opportunities and threats, also known as an S.W.O.T. analysis which is defined as, "a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats. (Nickels, McHugh, McHugh, page 216)". This is a very powerful tool usable by any business that is just starting out, going through a change in direction, or in the process of a major merger. The SWOT analysis consists of a few simple steps which can provide valuable insight for direction and decision making. This paper will use The Boeing Company as an example of SWOT analysis application.
The Boeing Company originally started out as the Pacific Aero Products Co., which was founded on July 15, 1916. The name was changed about a year later to The Boeing Airplane Company. The Boeing Company stayed relatively small until World War I when they were selected by Navy officials to produce an order for 50 model C's planes for the war efforts. The company continued to prosper and by the late 1950s, Boeing President William Allen knew that the company had the scientists, the experience and the facilities to lead the company into uncharted territories. He was right, Boeing has emerged as the leading aerospace company in the world today.
The SWOT process will start by examining the internal strengths of the Boeing Company of today. One of the most dominant strengths possessed by Boeing is its ability to follow the changes in a market that is continually changing. The type of products produced by The Boeing Company demands the use of state of the art technology while maintaining all the proper safe guards for sa...
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...It is important to continually perform SWOT analysis and to stay nimble.
Overall the Boeing Company has stayed strong in the aircraft field and with record profits for the past two years it looks like they are achieving their goals. Boeing has had to change their business direction over the past 100 years in order to stay a top of the aircraft industry. To maintain a good successful business they must have used a system similar to this SWOT analysis to see where Boeing needed to be to capitalize the market. Before Boeing decided that outsourcing was the way to go, a group of Boeing peers got around a table and weighed out the pros and cons. In their business analysis they saw a way to change one of their weaknesses, in-house work overload, into a potential strength. Major business decisions like this are much easier to commit too, with the use of a SWOT analysis.
It has stayed relevant to the market through its propelled philosophy of relationships to generate profits in the business. Since its establishment in Monroe, Louisiana the once tiny airline has stretched to greater heights serving in 6 continents. It has also established a distinguishable name among its competitors with a reputation of leading customer services. However, even as an established venture, the company needs to maximize its profits in order to stay in business and expand in to new territories beyond its conquered boundaries. A strategic analysis was carried out by our team to establish the company’s current situation. A SWOT analysis was performed to come up with three referenced, strategic alternatives. This alternatives are meant to act as a strategic guidance to the company in order to enhance growth. The strategic recommendation provided will improve and enable the business to cope with the competitors while the implementation of the strategy section will outline the way to go about achieving these alternatives in the business setting. Lastly, we put up a discussion on the evaluation procedures and necessary controls for the
In our textbook, SWOT analysis has a role to document all present and possible future influence on performance, negative or positive. (Best, 2013, p 473). When designing a marketing strategy the SWOT analysis is a great tool that a straightforward model that analyzes the strengths, weaknesses, opportunities and threats of an organization. SWOT analysis can be extremely simple to conduct and
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.
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
A SWOT analysis is an examination of an organization’s internal strengths and weaknesses, its opportunities for growth and improvement, and the threats the external environment presents to its survival (Harrison, 2010). Generally, the information gathered for the analysis is organized into matrix form, howe...
The definition of SWOT analysis is comprehensively summaries the internal and external conditions, critical evaluate advantages and disadvantages of organization, facing the opportunities and threats, in order to the combination of company 's strategy and internal resources and external environment (Yuan, 2013). In contrast, SWOT analysis method is a descriptive model, because the enterprise strategy is often a typical uncertainty problem, the lack of adequate analysis and logic, and a SWOT analysis cannot provide the specifically, format of strategic advice (David,
The engineering section of aircraft manufacturing is quite old. It is characterized by a few firms that keep Rolls-Royce on its toes in terms of competition, like General Electric. The small number of firms can be justified by the high cost of starting of...
...gainst all odds, it has become the companies greatest asset. In order to protect their asset, Boeing is not becoming complacent, and is instead striving to make a wide variety of aerodynamic improvements.This has cemented the 737 as a market leader, and it will retain its lead for decades to come.
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.
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
Over the last 50 years The Boeing Company has shown itself to be an industry leader in the fields of technology and putting their vast physical assets to use. Boeing has been on the forefront in innovation in both commercial aviation, and airplanes used for defense purposes. Whether it was the introduction of the first modern airplane with dual engines when the Boeing 247 was unveiled or introducing new standards of efficiency into their business model Boeing seems to have always been one step above the competitors. So while Boeing was hurting their competitors on one end they decided to go and become more efficient on the other end. So not only were they the leader in technological innovation they improved the productivity of their largest business unit all while decreasing the amount of space they used. When a company is hitting on all cylinders like Boeing seems to be it becomes hard to compete, and their competitors are likely finding that out first hand.
Qualitative research provides insight into developing phenomena or offers a new perspective on current trends. Prior to the creation of a dynamic strategic plan, the SWOT analysis offers a critical assessment of an organization’s competitive position, though the four areas of assessment are not weighted, nor does the utilization of the tool provide specific direction for the organization and requires subjective interpretation of the data. Input from stakeholders brings validity to the information gathered while conducting a SWOT
SWOT analysis is a necessary tool for business that allows corporations to analyze where their strengths, weaknesses, opportunities and threats lie. The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success.
While performing the SWOT analysis, the several key issues are to be recommended to the management. These recommendations are intended to assist the Singapore Airlines in in keeping its pre-eminent position as it continue strives to be one of the best airline companies in the Today's airline industry.
SWOT analysis is part of the Harvard Policy Model, which has been developed as part of the business policy courses taught at the Harvard Business School since the 1920s. "The main weaknesses of the Harvard model are that it does not draw attention to strategic issues or offer specific advice on how to develop strategies, except to note that effective strategies will build on strengths, how to take advantage of opportunities, and how to overcome or minimize weaknesses and threats." [1] The cited weakness can easily be remedied by basing the SWOT analysis on the agreed upon objective, as explained directly below.