The Boeing Firm’s Key Drivers and Challenges

Subject:	Company Analysis
Pages:	2
Words:	593
Reading time:	3 min
Study level:	Master

SWOT Analysis

Strengths:

It has a strong base of reliable sources of raw materials, enabling it to overcome any supply chain obstacles.
Boeing has a pretty strong track record of completing future programs and generating a high value of financial investment by establishing new income sources (Blank and Dorf, 2020).
Boeing has significant cash flows, which give the corporation the means to invest in new initiatives (Lawrence and Thornton, 2017).
It has built a culture among distributors and retailers in which franchisees publicize the brand and its products while also investing in teaching the sales team to demonstrate to consumers how to get the most out of things (Petrescu, Aversa, Akash, Corchado, Berto, Apicella, Petrescu, 2017).

Weaknesses:

Integration of businesses with different work environments has not proven very successful.
The product advertising falls well short of expectations.
In order to evaluate performance, it is less competent at gauging product sales, resulting in a higher percentage of lost opportunities.
Because of the current liabilities and financial assets, the firm can use its money more effectively than it is now.
The company was also unable to address the challenges provided by new rivals in the business, and as a consequence, it dropped a tiny share of the market in some regions (Charter and Tischner, 2017).

Opportunities:

The government’s sustainability effort also allows state and federal government organizations to buy Boeing products.
New consumption patterns of behavior may allow Boeing to expand into new markets (Agyeman, 2021).
As the market expands, rivals’ benefits will be diluted, enabling Boeing to increase its efficiency in contrast to opponents.
The proposed taxation system will have a significant impact on how an organization functions and will create new chances for significant fixed like Boeing to increase profits.

Threats:

Replicating fraudulent and reduced goods is also a challenge to Boeing’s products, especially in developed and reduced economies.
Increasing raw material costs may jeopardize Boeing’s competitiveness.
In the medium to long term, technical breakthroughs created by a competitor or sector sabotage may constitute a severe threat to the industry.
A qualified workers scarcity in crucial global markets jeopardizes Boeing’s opportunity to keep steady earnings growth in these regions.

One of the tasks of Boeing is to create a marketing campaign that will further promote the product since the whole success of Boeing lies in the fact that the company was a pioneer in this area, which gave it a majority in the market. However, with the growth of competition, Boeing, unfortunately, cannot cope with it, so the emphasis should also be on the fight against competition. The company is famous for its aircraft in the first place, but technological progress is moving forward. In order not to lose potential customers in the future, Boeing should consider introducing new technologies. Due to the widespread use of green energy, Boeing should think about the development in this area, as it directly affects the company and how it will be presented in future years.

One of the threats to Boeing is the increase in the cost of raw materials, which accordingly affects the final price of the company’s products and services. To solve this problem, it is possible to present alternative sources of raw materials by recycling materials and using old spare parts in a recycled new form. There are also threats of staffing shortages; Today, engineering professions are becoming less popular as more and more processes are being automated. However, this does not mean that such personnel is not needed because the management of machines also requires the intervention of engineers. The best way to attract talent is courses for novice engineers, preferably free.

Reference List

Agyeman, N. E. S. (2021). ‘The impacts of lean principles on the production of civil aircraft in Boeing’, Aircraft Engineering and Aerospace Technology.

Blank, S., Dorf, B. (2020). The startup owner’s manual: The step-by-step guide for building a great company, John Wiley & Sons.

Cateora, P. R., Meyer, R. B. M. F., Gilly, M. C., Graham, J. L. (2020). International marketing, McGraw-Hill Education.

Charter, M., Tischner, U. (Eds.). (2017). Sustainable solutions: developing products and services for the future, Routledge.

Lawrence, P. K., Thornton, D. W. (2017). Deep stall: the turbulent story of Boeing commercial airplanes, Routledge.

Petrescu, R. V., Aversa, R., Akash, B., Corchado, J., Berto, F., Apicella, A., Petrescu, F. I. (2017). ‘When Boeing is dreaming–a review’, Journal of Aircraft and Spacecraft Technology, 1(3).