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Market-Based Management case Essay Example

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Market-Based Management case

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Boeing has been at the forefront of innovation as far as aviation is concerned. This has been an ongoing process since the company’s formation up to date. For this to be sustained, Boeing has to adopt a methodology of finding out its comparative advantage, measuring success and organizing activities. Boeing should ,therefore, restate its mission statement and tailor it in such a way that innovation is part and parcel of the company’s core strategies in addition to being entrenched in the company’s culture as a continuing process in which the workers methodically advance the company’s competencies and markets, define objectives, plan for accomplishing such objectives as well as monitor progress(Best, 2013).The new mission statement should clearly spell out what Boeing does and intends to do best. Such a mission statement should not only be used for strategic planning but also for employee inspiration. When employees understand this, they will have a better individual value creation, automatically, paving way for innovation to take root and thrive. Boeing by use of MBM and VDM can grow maintenance programs that satisfy operators’ needs; a very important aspect of customer support for the company. This is because maintenance programs are a fundamental aspect of any airline’s effective operation. Such programs ensure safe, cost-effective and reliable airplane performance. Cost of operations reduction is a key concern to several airlines and through the effective application of MBM, Boeing can understand its customers’ business by deciding on what is practically achievable given the markets’ nature, the competition, and resources of the company as well as its abilities. Boeing can, therefore, deduce what activities create value for its customers as well as what criteria inform their customers’ buying decisions. In conclusion, therefore, the core systems of firms are usually extremely interdependent and thus the key aspects of MBM require to be implemented as a consistent system so as to accomplish their potential in full.

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preview essay on Market-Based Management case
  • Pages: 4 (1000 words)
  • Document Type: Case Study
  • Subject: Management
  • Level: Masters
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