Informative Breakdown of Boeing Term Paper
- Length: 8 pages
- Subject: Transportation
- Type: Term Paper
- Paper: #4358751
Excerpt from Term Paper :
Boeing is considered the leader in commercial aircraft, military aircraft and missiles and space markets. As well as the design, development and manufacture of aircraft and space equipment, Boeing also has divisions managing the support of these activities and other activities that extend to real estate services, financial services and travel agency services.
Boeing has a well-developed graduate program and the benefits for employees are numerous. While financial information up to 2000 suggests that Boeing is growing, it should also be noted that since September 11, a downturn in the commercial airline industry has impacted Boeing. As a result of this 30,000 jobs are expected to be lost. To counter this Boeing expects growth in the defense area and Boeing is also moving to adapt to the changed environment, such as by focusing on the renewed interest in commercial flight safety.
While layoffs are taking place there are still numerous varied work opportunities with Boeing. A search of their employment opportunities facility showing over 600 positions currently available.
This report will detail Boeing, providing information that will be of use to a potential employee.
This will cover corporate and financial information, the history of Boeing and key departments. It will also detail the benefits available to employees of Boeing and also focus on graduate opportunities and how to contact Boeing about opportunities. It will also cover the key principles Boeing operates by, with this information intended to assist the potential employee in knowing what characteristics they look for. Finally, we will look at some recent news articles and what these tell us about the future with Boeing in relation to employment.
Boeing World Headquarters is located in Chicago, Illinois.
Phil Condit, Chairman and Chief Executive Officer.
Phil Condit became Chief Executive Officer in 1996 and was elected Chairman in 1997, after 35 years with Boeing in various divisions.
Harry Stonecipher, Vice Chairman
Harry Stonecipher was elected vice chairman in May 2001 and previously served as president and chief operating officer from August 1997.
Boeing was founded by William Edward Boeing in the early 1900's. The Wright Brothers made their first flight in 1903, the event that led William Boeing to consider the possibilities of air travel. William Boeing and a Navy engineer names George Conrad Westervelt began designing a new aircraft, it was named B&W and they began building it in a boathouse. Westervelt left the project and Boeing completed the plane in 1916. On July 15, 1916, Boeing incorporated his airplane manufacturing business as Pacific Aero Products Company. A year later, he changed the name to the Boeing Airplane Company. In 1917, during World War I, Boeing knew the Navy needed training airplanes and provided them with two. The Navy were impressed by the planes and ordered 50 more. The Boeing company now consisted of 337 people. By the end of the 1920's Boeing had designed planes for mail and for passengers. After the depression, antitrust legislation meant that Boeing had to be broken up into three divisions. United Air Lines was responsible for air transportation, United Aircraft was responsible for manufacturing operations in the eastern United State and the Boeing Airplane Company was responsible for manufacturing operations in the West. At this stage William Boeing retired and Boeing Aircraft was taken over by Claire Egtvedt. The company changed direction and began to focus on large passenger airplanes and bombers. In the 60's Boeing also used its experience to create guided missile systems and space vehicles and was also heavily involved in the Apollo missions and the moon landing. In the 70's commercial jetliners became the focus, especially the 707. Recession hit the industry in the early 70's and to counter this Boeing began to expand beyond airliners, expansion included projects as broad as computer systems, irrigation systems and wind turbines. After the 80's the recession eased and Boeing returned to concentrating on commercial airliners and military aircraft. This leads us to the current day where Boeing employs 187,000 people, serves customers in 145 countries and is the leader in commercial aircraft, military aircraft and missiles, and space markets.
Air Traffic Management - This division handles air traffic control. With 120 million flights per year, the division ensures safety of flights by managing air traffic which includes both the processes and the technology related to it.
Boeing Capital - provides financial products and services to businesses, focus on innovative financing and leasing options. This service is not supplied only to those doing business with Boeing, Boeing makes use of its experience in this area to offer the service to all businesses.
Commercial Airplanes - this is the central division of Boeing and its purpose is the production and sale of commercial airplanes. It is one of three operating groups within The Boeing Company, with headquarters in Renton, Washington, the operating group is managed by President and Chief Executive Officer Alan Mulally.
Boeing Commercial Aviation Services - this is an important division of Commercial Airplanes, which manages the support of the commercial aircraft including customer support, integrated services, predictive maintenance, airplane monitoring, training, modifications and fleet management.
Military Aircraft - manufactures a range of military aircraft including fighters, bombers, airlifts and tankers.
Military Aircraft Support - provides the services associated with maintaining military aircraft.
Missile Systems - manufactures a range of missile systems and tactical weapons.
Rotorcraft Aircraft - manufactures some of the best known military aircraft, including the chinook and the apache.
Phantom Works - this is the research and development unit of Boeing. This unit employees over 4000 people and has various locations across America, each dedicated to certain products or projects.
Boeing Launch Services - this is a sales and marketing unit aimed at providing a launch service for companies worldwide requiring the launch of payloads into orbit.
Rocketdyne Propulsion and Power - division located in California whose basic purpose is to provide propulsion systems. The division is also a leader in applied power and supplied power systems to the International Space Station.
Boeing Satellite Systems - this division consists of Hughes Space and Communications Company, who were the leaders in space communications. Boeing acquired three units of Hughes in 2000, Hughes Space and Communications Company, Hughes Electron Dynamics and Spectrolab, Inc.
Boeing Realty Corporation - this division manages all aspects of real estate strategies, acquisitions, dispositions, development and leasing for Boeing worldwide.
Boeing Travel Management Company - this division manages corporate travel for Boeing and also provides this service to the public. 90 per cent of the business covers commercial travel.
Exostar - a division that provides Internet-based eMarketplace facilities to businesses.
COMPANY GROWTH AND FINANCIAL INFORMATION
Financial figures for the five-year period from 1996 to 2000 show both sales revenue and net income generally increasing, though with deviation from the trend in some years. Liabilities also appear to be generally decreasing while employee costs are decreasing.
Year Sales Revenue* Net Income* Liability* Employee Costs*
1996 35453 1818 7489 211
1997 45800 (178) 6854 238
1998 56154 1120 6972 231
1999 57993 2309 6732 197
2000 51321 2128 6799 198
*Dollars in millions
Table 1: Boeing Five-Year Financial Figures. (Source: Boeing Financial Report 2000)
Boeing values training and supplies various educational programs. This includes training vital to your job, career advancement skills and the completion of degrees. Boeing provides:
Learning centers - offers over 3000 courses on job skills and personal development.
Off-Hour training - courses are available in categories such as aviation, CATIA, communications, computing, engineering, industrial, math, production, and retirement planning and these courses are available at no cost.
On-The-Job/Familiarization Training - training provide to meet the need of your job.
Learning Together Program - program that offer tuition reimbursement and payment of learning expenses. Employees who complete degrees are also eligible for Boeing stock awards.
Benefits for Boeing employees are comprehensive and include:
Vacation and holiday time.
Health Care, Disability & Life Insurance, and Reimbursement Account Plans - Boeing offers a choice of medical plans for its employees, as well as various insurances.
Voluntary Investment Plan - Boeing offers a 401(k) savings plan with employees choice of the amount of contribution and 11 investment funds to choose from.
Pension Plan - the pension plan is fully paid for by Boeing and works in combination with savings plans.
Credit Unions - Boeing has various credit unions available to employees in various locations. Includes Aerospace Community Credit Union, Boeing Employees Credit Union, Hughes Aircraft Employees Federal Credit Union, McDonnell Douglas West Federal Credit Union and Rockwell Federal Credit Union.
Recreation - Boeing has an off-hour recreation program that includes activities at company locations and at other clubs. Boeing also provides discount packages for various recreation activities including cultural events, theme parks and accommodation.
Health and Fitness - Boeing provides health and fitness centers at over 20 Boeing sites.
Family Care - Boeing offers a support and referral service for those in need of family support services.
Employee Assistance Program - this program offers…