Boeing
What I knew before
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Boeing is a manufacturer of planes, with their planes being considered the most high quality in the industry
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Introduction and Expectations
Visiting a manufacturing company was something different from many of the other visits, so I was very excited for this visit. We all know the product they have to offer, but I was very interested to see what was behind the making of the product. Boeing is big on utilizing product strategy when making decisions, which led them to discover that people want more choices, rather than bigger airplanes.
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The company currently has over 4,500 737's on backlog with a $150 billion market cap. The value of one 787-7 is $225 million. In comparison to a company like Google where information freely flows through the company, Boeing employees are kept in the dark about projects such as military projects.
Visit Summary
The visit began with us in a Boeing conference room learning about the company and the employees. When producing planes, they have a variety of market forecasters that they use such as airport infrastructure, fuel prices, and economic growth. They also told us about the emerging markets that prove to be some of Boeing’s most valuable customers. After spending time in the conference room, we toured the facility and went inside the cabin of a next generation Boeing 787 which was a very cool experience. They then showed us different models of their planes in a showroom, and let us experience a flight simulator with a landing strip. Boeing also has a large focus on putting the customer first with their “halo effect.” This means that they do small things that make the flying experience a lot better overall, including light filtered windows, larger overhead compartments with easier-to-open latches, and better seats. All this put together really proves that Boeing puts the company first.
Key Takeaways
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To stay at the top, it is essential to know your customers wants and needs. This message was constantly reinforced by other companies such as Nike, Amazon, and speaker Gary Swart.
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Post Visit Actions/ Thoughts
Boeing has done a good job adapting to different market conditions to maintain their status on top of the industry.