In the past few years, the airline industry has been noted to express dynamics in an impressive manner. It is clear that the sector has undergone drastic changes both in terms of demand and supply. This paper explores a US airline company; Boeing, Inc. and in the process, it will determine the impact of the mission, vision, and primary stakeholders on its overall success. It will, among other things, present an analysis of the five (5) forces of competition and determine how they can impact the company. Boeing, Inc. just like any other corporate business operates with the aim of creating profits. Therefore, all levels of management are charged with the basic task of continually developing strategies and finding solutions in order to increase profit on a continuous basis. It is worth noting that Boeing is a US based manufacturer with a huge customer base in more than 150 nations around the world (Szymanski, 2011).
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It is prudent for a business to operate under well-structured mission and vision statements in order to be able to realize its objectives. In Boing, Inc., the mission statement is “The International Association of Machinists &Aerospace Workers and the Boeing Company are committed to working in partnership to ensure that innovative/creative solutions are developed and implemented to improve health and safety, employee development, and quality and productivity in the workplace” (Yenne, 2010). This mission statement is significant for defining the sector in which the company operates its business, and, therefore, sets out the purpose that should be followed. It presents, in summary, the activities of the company and the reasons for conducting them.
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Through the mission statement, the company, also, pinpoints essential stakeholders such employees, customers and shareholders. Mission statement influences the overall success of the company by enabling employees to understand how relevant their contribution is to the objectives of the company (Yenne, 2010). It should also be clear that, through a mission statement such as that of Boeing, Inc., various stakeholders are approached both directly and indirectly. This then assists them when it comes to making decision of whether or not they can join the company for business.
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In conclusion, Boeing’s mission statement influences its overall success by enabling employees to understand how relevant their contribution is to the objectives of the company. The vision influences the company’s success through motivating and inspiring employees of the company so. that they can contribute their efforts and drive the company to the direction of success. In general, the mission, vision and stakeholders impact the overall success of the company through motivating employees, informing benchmarks and increasing its marketability.
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