Final Integrated Paper: SpaceX

Executive Summary

SpaceX has been defined as one of the most innovative companies today. As a matter of fact, the company has been at the forefront in efforts to conquer space exploration and even make it possible for non-astronauts venture into space. This paper concerns itself with not only the strategic initiatives of the enterprise, but also the diverse innovations that the company has deployed in the past. It also highlights the companys innovative and sustainability efforts.

Discussion

SpaceX defines itself as a designer, manufacturer, as well as launcher of advanced spacecraft as well as rockets (SpaceX, 2021). As the company further points out, it was established in the year 2002 with the overall mandate of revolutionizing space technology. Some of the spacecraft and aerial vehicles that the company has developed in the past are inclusive of Falcon Heavy, Falcon 9, Dragon, and Starship. The companys founder, Elon Musk, happens to be a talented innovator and entrepreneur. It is important to note that as of the second week of June 2021, the company had made a total of 127 launches (SpaceX, 2020). On the other hand, as it points out on its website, it has made a total of 89 landings and reflown 68 rockets. Since it was established, the company has achieved great milestones. For instance, as it further points out, it is the only private company capable of returning a spacecraft from low-Earth orbit, and in 2012 [its] Dragon spacecraft became the first commercial spacecraft to deliver cargo to and from the International Space Station (SpaceX, 2021). With this in mind, at present, the companys typical customer base consist of National Reconnaissance Office, NASA, U.S. DoD, etc. These are no mean accomplishments for a privately-owned enterprise. The company has close to 5,000 employees. It should also be noted that as Sheetz (2021) points out, since its establishment, the company has managed to rake in $1.9 billion in funding. As of the year 2021, the company had a valuation of $74 billion (Sheetz, 2021). Given the companys revenues at this time, this appears to be a rather high valuation. The high valuation has in this case been associated with future high revenue expectations (Trefis, 2021). As of the year 2020, SpaceX reported total revenues of 1.2 billion (Trefis, 2021). To a large extent, the company has only one key source of revenue at present. The said source of revenue happens to be the space launch service (Trefis, 2021). In addition to launching satellites into earths lower orbit, this particular service also makes it possible for cargo to be transported both from (and to) the International Space Station. Being a privately-funded enterprise, SpaceX is not publicly traded at this point in time. For this reason, the stock price of the said enterprise will not be included in this particular discussion. It should, however, be noted that as Sheetz (2021) observes, SpaceX has in recent times raised the new funds at $419.99 a share. At present, the company has its headquarters in Hawthorne, CA.

From the onset, it would be prudent to note that SpaceX has accomplished a wide range of feats in the past. With this in mind, there would be need to highlight some of the companys most recent strategic initiatives. To begin with, the company has in recent times developed a reusable rocket that has the capability to be launched, landed, and reused for another mission. It is important to note that in the past, rockets have been designed to disintegrate or burn upon their reentry into the earths atmosphere. Johnson (2019) points out that with the said reusability capabilities, the company has in effect set the ground for routine missions to space at a cost that is a fraction of present costs. Secondly, yet another strategic initiative that SpaceX has engaged in recent times is Inspiration 4. In essence, this is a scheduled space flight by private citizens aboard the companys SpaceX Resilience capsule. The said flight, which intends to orbit earth, is scheduled to last for a total of three days. As SpaceX points out on its website, this is essentially the first ever all-commercial space shuttle flight to launch (SpaceX, 2021). In the past, such missions have been astronaut-exclusive undertakings. Third, SpaceX has also been able...…including vehicle design/engineering, component manufacturing, software development, subsystem assembly, vehicle integration, vehicle testing, launch operations, and on orbit operations (Greg, 2015). Baltzan (2019) is categorical that supply chain management systems could be instrumental in efforts to further enhance an organizations bottom-line. In the case of SpaceX, the deliberate move to attain a high vertical integration level has come in handy in keeping costs in check. Next, to a large extent, if a company is to remain competitive in a highly competitive business environment, it should be skilled in the management of its relationship with customers. CRM systems are instrumental in this endeavor. This is more so the case given that they help in efforts to streamline processes, connect to customers, and further enhance business relationships. One of the companies that has successfully put in place a robust CRM initiative is FedEx Corp. In this case, the company remains committed to deploying the relevant software so as to further enhance its perspectives about its diverse clientele (Songini, 2000). Here, the overall goal happens to be the ability to detail the needs of customers so as to come up with the best services to address the said needs (Songini, 2000). Similarly, Light (2020) makes an observation to the effect that to bag satellite launch contract from the Pentagon, SpaceX had to understand the specific needs and goals of this particular client and pursued consistent satisfaction of customer expectations (Light, 2020). In deploying the ideals of CRM, the company was able to gain insight into the needs of this particular client and adapt its processes accordingly so as to meet the desired quality standards.

Conclusion

In the final analysis, it would be prudent to note that going forward SpaceX appears poised to succeed where other have failed in the past. This is more so the case given that through innovation and directed application of technology, the company has been able to effectively change thenarrative in as far as the economics of space travel are concerned. The company has also largely benefited from the able leadership of Elon Musk who has been consistent in efforts to reign in bureaucracy within the organization…