Business Strategy Report: Collins Aerospace
Write a 2000 word report on the business strategy for Collins aerospace
Summary
A 2000 word report applying the learning from the module to professional working practices.
Purpose
The purpose of the report is to provide a scan-through of a chosen engineering organisation in terms of the most important aspects of the business strategy and strategic management covered in the module. You will build on your learning from preparing the formative assessment and the feedback to it, as well as peer discussions and webinars, to prepare this final assessment.
The report should have the following structure:
1. Presenting your chosen organisation and the results of the strategic analysis: About 650 words. Here, you should consider the most important information about your chosen organisation and the most important results of your strategic analysis (external and internal environment analysis) from your formative assessment Please cover adequately the key findings from your analysis of the external environment of your chosen organisation (including the PESTLE analysis results) as well as the key findings from the analysis of your chosen organisation's internal environment (including the most important findings you obtained from the VRIO framework and Value Chain Analysis). Amend findings and conclusions as necessary as per comments received in the peers and tutors feedback in the formative assessment.
2. The analysis of a corporate and business level strategy and their implementation within your chosen organisation: About 750 words. In preparing this part, here are some guiding questions that could help you consider important aspects: What is the growth strategy your organisation chooses to follow (based on the Ansoff Matrix)? Does it apply any internationalisation strategy? How does your chosen organisation try to implement its growth strategy? Is it by organic development, M&A or strategic alliances? Which of the generic business level strategies is the most relevant for your chosen organisation? What is the type of business model that your chosen organisation is based upon? What are the levers to ensure that the chosen strategy is implemented in your chosen organisation? What are the current leadership roles and styles?
3. CSR, ethics and sustainability: About 400 words. Here, you should review the current state of CSR development, ethics and sustainability in your chosen organisation with a description of possible direction(s) and recommendations for further improvement.
4. Conclusion: About 200 words
Business Strategy Report: Collins Aerospace
Introduction
Collins Aerospace, a prominent player in the aerospace industry, has been at the forefront of innovative technologies and solutions. This report aims to provide a comprehensive analysis of Collins Aerospace's business strategy, focusing on key aspects such as strategic analysis, corporate and business-level strategies, implementation methods, CSR, ethics, and sustainability practices.
1. Presenting Collins Aerospace and Strategic Analysis
Collins Aerospace, a subsidiary of Raytheon Technologies Corporation, is a global leader in the design, production, and support of advanced aerospace and defense systems. The strategic analysis of Collins Aerospace involves evaluating both its external and internal environments to identify key opportunities and challenges.
External Environment Analysis
Collins Aerospace operates in a dynamic external environment influenced by factors such as technological advancements, regulatory changes, and market trends. A PESTLE analysis reveals insights into political, economic, social, technological, legal, and environmental factors impacting the aerospace industry.
Internal Environment Analysis
Utilizing frameworks like VRIO and Value Chain Analysis, key findings concerning Collins Aerospace's internal capabilities and resources are identified. Understanding the company's strengths and weaknesses is crucial for developing effective strategies.
2. Corporate and Business-Level Strategies
Collins Aerospace adopts a growth strategy that aligns with the principles of the Ansoff Matrix. By exploring market penetration, product development, market development, and diversification strategies, the company seeks to expand its market presence and enhance competitiveness.
Internationalization Strategy
As a global entity, Collins Aerospace implements internationalization strategies to access new markets, leverage economies of scale, and mitigate risks associated with operating in diverse geopolitical environments.
Implementation of Growth Strategy
Collins Aerospace pursues growth through a combination of organic development, mergers and acquisitions (M&A), and strategic alliances. These approaches enable the company to capitalize on synergies, enhance capabilities, and drive innovation.
Business Level Strategies
Collins Aerospace embraces differentiation as a key business-level strategy to offer unique value propositions to customers. By focusing on innovation, quality, and customer service, the company differentiates itself from competitors in the aerospace sector.
Business Model
Collins Aerospace's business model emphasizes collaboration, innovation, and operational excellence. By fostering a culture of continuous improvement and adaptability, the company sustains its competitive advantage in a rapidly evolving industry.
Strategy Implementation Levers
Effective strategy implementation at Collins Aerospace is facilitated by strong leadership roles and styles that emphasize communication, empowerment, and accountability. Ensuring alignment between strategy formulation and execution is critical for achieving organizational objectives.
3. CSR, Ethics, and Sustainability
Collins Aerospace places significant emphasis on corporate social responsibility (CSR), ethics, and sustainability practices. By integrating sustainable principles into its operations, the company aims to create long-term value for stakeholders while minimizing environmental impact.
Current State of CSR Development
Collins Aerospace has made notable strides in CSR initiatives by promoting diversity and inclusion, supporting community engagement programs, and enhancing environmental stewardship practices. The company's commitment to ethical conduct and sustainability underscores its dedication to responsible business practices.
Recommendations for Improvement
To further enhance its CSR efforts, Collins Aerospace could focus on enhancing transparency in reporting, setting ambitious sustainability goals, and engaging with key stakeholders to drive positive social impact. By continuously evaluating and refining its CSR strategies, the company can strengthen its reputation and contribute to a more sustainable future.
4. Conclusion
In conclusion, Collins Aerospace's strategic approach to business encompasses a holistic perspective that integrates market insights, operational excellence, and social responsibility. By aligning its growth strategies with corporate values and ethical principles, Collins Aerospace is well-positioned to navigate industry challenges and capitalize on emerging opportunities in the aerospace sector.
In summary, this report has provided a detailed analysis of Collins Aerospace's business strategy, highlighting key aspects of strategic management that contribute to the company's success in a competitive global market. Through continuous innovation, strategic partnerships, and a commitment to sustainability, Collins Aerospace remains a trailblazer in the aerospace industry.