Custom essays on Boeing: Strategic Plan

Balanced scorecards
a. Shareholder value and financial perspective
The current financial position of the company is stable (See App. Table 1). Nevertheless, the company needs to grow steadily. In actuality, the company cannot afford the rapid growth because it does not have substantial resources to accelerate the growth of the company, when Boeing attempts to expand its market share internationally. In such a situation, the company can count for 2-3% growth steadily raising the growth of the share value to 4% annually.
b. Customer value perspective
Boeing needs to carry on its strategy focused on the customer satisfaction. The high customer satisfaction can be reached through the high quality of products and services being provided by the company to its customers. However, in the contemporary business environment, the company should avoid raising price along with the improvement of the quality of its products and services because customers will be unable to afford paying higher price to Boeing and its rivals can take the position of the company even in its traditional markets. Moreover, the company should focus on the rise of its sale rates by 5-7% per year.
c. Process and internal value perspective
In actuality, process and internal operations affect the performance of the company consistently. In this regard, Boeing should stay focused on the total quality management, which allows the company to build up positive organizational culture and improve the quality of its products and services. In addition, the company should start saving costs by 3-5% per year. In such a way, the company can optimize its internal processes and operations. At the same time, the company needs to develop closer interaction between its units located in different regions, including the use of knowledge sharing and training courses within the company.
d. Learning and growth
Knowledge sharing and training courses within the company should lay the foundation to the further growth of Boeing and its business development. Boeing should train its employees to improve their qualification and to help them to work more effectively and productively. In actuality, learning is an essential condition of growth of any company because through learning the company can stimulate the development and introduction of innovations.
Communication plan
a. Definition of goals
While developing the communication plan, Boeing should define clearly its goals. In this regard, the major goals are the development of positive company-customer relationships, positive organizational culture, expanding its market share and the ongoing improvement of the quality of products and services.
b. Plan development
On defining, goals, the company can start developing the plan. In this regard, the company should define strategies and mechanisms with the help of which the company can reach the aforementioned goals. First, the company should carry on the strategy of the international market expansion to expand its market share and to improve its position in the market. Second, the company should implement the total quality and knowledge management to improve the quality of products and services and to improve the performance of its employees.

In addition, the company should develop new ethical norms and standards to create positive relationships between employees and managers working in the culturally diverse environment. In this regard, the company should pay a particular attention to the communication within the company as well as between the company and customers. The communication within the company should focus on the close interaction and development of positive interpersonal relationships between employees which can be developed in the course of training in terms of the knowledge sharing management. As for the communication between customers and the company, Boeing should get closer to its customers. In this regard, the company can use modern telecommunication systems and information technologies. For instance, the company can use Internet to provide its customers to contact its customer support service 24/7. In such a way, the company will be able to develop effective communication with its customers. Moreover, customers will grow more and more satisfied if they have an opportunity to obtain detailed information they are interested in from the company directly, any time they want and need this information. In addition, the company can obtain information from customers. This information can be processed and used to improve the organizational performance and customer satisfaction.
c. Plan implementation
The implementation of the plan should start with the definition of resources to fund the projects, such as international market expansion or training courses for employees. In this regard, revenues of the company and bank loans can help the company to accelerate the implementation of the plan.
d. Control and evaluation
Finally, the implementation of the plan cannot be successful, if the company fails to control its implementation. In this regard, managers of the company should control the implementation of the plan and monitor the impact of the chosen strategies and policies on the organizational performance. For instance, if training fails, the company should choose a new strategy. For instance, the company can replace knowledge sharing management by outsourcing training. Managers should collect and evaluate information on the organizational performance on the regular basis. They should conduct evaluation quarterly and, if necessary, they should introduce changes in the plan.
Conclusion
Thus, taking into account all above mentioned, it is important to lay emphasis on the fact that Boeing is still one of the most successful companies operating in the aviation industry. The company has reached a tremendous success due to its focus on the total quality management and customer satisfaction along with the introduction of innovations and effective management and training of its employees. Today, the company focuses on the international market expansion that will need substantial financial and human resources. To accomplish this goal successfully, the company needs to carry on its current strategies, attempt to save costs and improve its organizational performance.
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Gates, D. “Clean engines, wings that fold: Boeing dreams of futuristic jets.” The Seattle Times, 18 May 2006, p.32-36.
Greider, W. One World, Ready or Not, New York: Penguin Press, 1997.
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Norris, G. and M. Wagner. Boeing 777: The Technological Marvel. Minneapolis, Minnesota: Zenith Imprint, 2001.
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Yahoo Finance. (2010). Retrieved on July 30, 2010