MGMT20144: Innovation, Entrepreneurship, and Boeing's Business

This presentation provides an overview of innovation and entrepreneurship practices within Boeing, a leading aerospace company. It discusses Boeing's background, its approach to innovation through initiatives like Boeing AnalytX and HorizonX, and its investment in research and development. The presentation also examines Boeing's use of entrepreneurship, focusing on employee engagement and state-of-the-art security measures. It highlights the relationship between innovation and entrepreneurship, the importance of sustaining innovation, and the impact of these practices on Boeing's success, including the Dreamliner project. The presentation also addresses critical issues faced by Boeing, such as managing the Dreamliner project and supply chain complexities, and offers recommendations for improvement. The presentation concludes that Boeing is effectively using innovation and entrepreneurship techniques to maintain its competitive edge in the aviation industry. Desklib provides solved assignments and study resources for students.


Management and
Business Context


 The purpose of the presentation is to provide
description to reader about the innovation and
entrepreneurship practices.
 The task talks about the use of innovation and
entrepreneurship activities in the company
Boeing. Boeing is world’s largest aerospace
company.
 The organization sell aircrafts, rotorcrafts etc.
products in the market.
Introduction


 Boeing is an American multinational company
which was founded in the year 1916 with a
motive to sell products to the airlines
companies present in the international
market.
 The company is the top exporter of aerospace
products and services in US. Further, the
organization is engaged in five divisions
(Boeing, 2018).
Background of the company


 Innovation refers to the method of
implementing a new idea or invention in the
activities of the business.
 With the process of innovation new idea is
created and implemented in organization so
that effectiveness of the company is increased
in the market.
 The process of innovation helps a company to
gain competitiveness in the external market
(Banerjee, 2017).
Innovation


 Boeing uses innovation in such a way that it
helps them to gain competitive edge in the
target market.
 The company launched two new products that
are Boeing AnalytX and Boeing HorizonX
which transformed the activities of the whole
industry.
 The organization consistently aims to drive
innovation to solve difficult and real world
problems in the market.
Use of innovation in
Boeing


 The organization has invested more than 3
billion dollars in the research and
development department; so that innovation
present in the market can be properly
examined (Boeing, 2018).
 Further as the organization is a part of defense
industry so regularly update their satellite
system to communicate with the pilots.
Cont.


 Entrepreneurship refers to the use of
innovation and creativity in the organization to
maximize profits for the company.
 An entrepreneur is a person takes calculative
risk and use available resources innovatively
to gain advantage in the target market
(Gheorghiu, 2016).
 An entrepreneur uses innovation techniques to
attain competitive edge in the market.
Entrepreneurship


 The management of Boeing adequately used
entrepreneurial skills to gain efficiency in the
target market.
 Further the company always kept the
employee interested in their activities by
appraising them according to their
performance. (Johnston, & Marshall, 2016)
 The defense force of the company uses state
of art technique to keep the environment
secure.
Use of entrepreneurship in Boeing


 The company uses the technique of leadership
and innovation to secure their position in the
target market.
 Fulfillment of customer needs is the basic
motive of the company due to which they
initiate safety and security in the products and
services which they provide.
Cont.


 Innovation refers to the act of doing things in
a different way. And entrepreneurship refers to
the process of using innovation to gain
profitability for the company in the market.
 An entrepreneurs uses innovative tools and
techniques to successfully uses opportunities
present in the market (Margis, et. al., 2016).
Relation between
innovation and
Entrepreneurship


 Sustaining innovation refers to the innovation
which develops the activities of the business
while taking in mind its effect on the
environment as well.
 With the help of this innovation the
entrepreneurs of Boeing successfully sustain
their products and services in the target
market.
Sustaining Innovation


 Due to the acceptance of innovation and
entrepreneurship in the business, the
company is able to fulfill their aims and vision.
 Aircraft Dreamliner is a project which was
launched by the company to provide use of
innovative technology to its customers as well.
 Without such techniques, the company would
not create the current position in the market
(Morgan, et. al., 2015).
Impact of innovation and
entrepreneurship in Boeing


 The commercial airplanes of the company and its
defense products are a result of innovation used by
the management.
 Further the company provides high standard
aircrafts to their customer which increases their
efficiency in their respective market (Boeing,
2018).
 So it shall be noted that the company is surviving
in the market because of efficient use of innovation
techniques by the employees in the workplace.
Cont.


 The company faced difficulty in managing the
Dreamliner project due to which billions of
dollars were exploited by the company.
 At first the company was unable to manage
such hi-tech technology.
 Complexity in the supply chain also affected
the workings of the company.
 Further the modern technology did not match
up to the expectation of the company (Boeing,
2018).
Critical issues faced by Boeing


 It should be recommended to the company to
use the traditional techniques in an innovative
way to introduce success for the Dreamliner
project of the company.
 The organization should regularly motivate
and train their employees so that they can
match up to the expectation of the company.
Recommendation


 Thus, in the limelight of above mentioned
events, it shall be noted that the company
Boeing is doing extremely well in the aviation
industry. The company is adequately using the
innovation and entrepreneurship techniques in
their management to attain competence.
Conclusion

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 Banerjee, A. (2017). Background Note: Standard Essential Patents, Innovation
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 Boeing, (2018). Commercial Airplanes. Viewed on 3 February 2018 from <
http://www.boeing.co.in/products-and-services/commercial-airplanes.page?>
 Boeing, (2018). Corporate Governance. Viewed on 3 February 2018 from <
http://www.boeing.com/company/general-info/>
 Boeing, (2018). General Information. Viewed on 3 February 2018 from <
http://www.boeing.com/company/>
 Boeing, (2018). Overview. Viewed on 3 February 2018 from <
http://www.boeing.com/innovation/#/defense/the-satellite-that-protects-itself>
 Friend, R. B., Arroyo, C., & Hansen, J. (2016). Big Missions, Small Solutions
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 Gheorghiu, A. (2016). Technology Entrepreneurship in Romania-a Great
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Conference (pp. 395-405).
References

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 Jiang, H. (2015). Trends in fleet and aircraft retirement. Boeing. June.
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Cont.