5. Based on your responses to Questions 1-4, what major strategic issues need the attention of Boeing’s senior management and leadership, and what recommendations would you make to them?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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Subject: Strategic management
(only answer question 5)
1. With reference to the PESTEL framework discussed in Thompson et al. (2022), conduct an analysis of Boeing’s macro-environment. Based on your analysis, critically discuss which factor(s) have emerged as important trends that should shape Boeing’s strategy into the future.
2. With reference to SWOT framework as discussed in Thompson et a. (2022), identify the major elements of SWOT for Boeing 737 MAX. Based on the SWOT analysis, what conclusions do you draw and what should Boeing’s senior management and leadership do to improve Boeing 737 MAX and the company’s strategy in general?
3. With reference to Porter’s five generic competitive strategies (Thompson et al. 2022), which of the five generic strategies best describes Boeing’s strategy and why? Discuss what the company does to make sure its strategy works. Analyse the sustainability of the company’s strategy.
4. Based on the five components of a socially responsible strategy as shown in Thompson et al. (2022), critically evaluate if Boeing’s strategy is socially responsible and what strategic issues the company faces with respect to its CSR strategy.
5. Based on your responses to Questions 1-4, what major strategic issues need the attention of Boeing’s senior management and leadership, and what recommendations would you make to them?
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