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Essay / Research Paper Abstract
This 4 page paper examines a strategic plan for Boeing explored in a paper entitled Strategic Analysis (Boeing)(SA603Boe.rtf). How the implementation of such strategy can be measured is the focus of this paper. General ideas about measuring success are discussed. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: RT13_SA605Boe.rtf
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Unformatted sample text from the term paper:
its air traffic control systems, add broadband to its flights, as well as to relocate its headquarters (Buckler, Greco, Lucas & Mullin, 2001). The strategic planning to come from
Boeing was seemingly positive, but how does one know whether or not these strategies are effective? How does one know that Boeing is achieving its strategy? It is important to
measure success. It is one thing for a corporate executive to use positive verbiage to spin the status quo, and it is another thing to see concrete results. In order
to measure results, specific goals must be established. If goals are monetary in nature, or even if they are not, they can be measured through a financial analysis. First, if
there are specific monetary goals involved, measurement is easy, but even if there are no set financial goals, the success of any business can be measured through financial results. This
is because the goal of any corporation is to profit. Hence, even when setting intangible goals, the ultimate success of an idea may be measured in terms of money. For
example, the company might update its air traffic control systems, but how will that benefit the company monetarily? Both short term financial information and projections are important here. Sometimes, financial
data looks grim, but in the long term an expenditure will result in success. For instance, liquidity ratios are instrumental in measuring a firms short term success while activity ratios
will best tell whether or not a firm is effectively using resources (Pearce & Robinson, 2004). Although it is prudent to follow through on a strategic plan, if the
numbers are very negative even for short term planning, the plan should be changed. In examining the strategic plan, a balance sheet should be created, but more specifically, the ROI
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