Strategy and Decision Making Business Project

Business Project

Research Area: Strategy and Decision Making. This research area focuses on the essential elements that enable the achievement of set goals. It explores the strengths and weaknesses linked to a business context and associated decisions. Airline being a large industry with significant economic influences, strategy and decision making become indispensable, especially for large and reputable firms like the Boeing Company. Decision-making strategies encompass various elements. It begins by identifying the goals the company wishes to achieve. Identification ensures that all the required resources are mobilized towards attaining the goal. This is followed by information gathering to determine the consequences of the possible decisions to weigh the best choice. The decision is made and then evaluated to verify that it resonates with the set goals. The research project will

Project Title: Evaluating the strategies and decision-making process for Boeing after the 737 Max crash

Research Question: In what ways has the Boeing Company revolutionized its strategies and decision-making process to enhance its business operations globally after the 737 Max crash?

Specific Questions

i. Which strategies and decision-making methods did the Boeing Company use before the 737 Max crash?

ii. Did the Boeing Company change its strategies and decision-making process after the crash?

iii. Which strategies and decision-making methods can the Boing Company use to streamline its business operations and compete effectively?

About the Project

This research project explores how the Boeing company strategizes and makes decisions specifically after the 737 Max crash, significantly affecting its business operations and model. The two crashes of 2018 and 2019 hit the company's core and had to reflect on its infrastructure and management (PBS, 2021). The paper intends to compare the strategies and decision-making process before and after the crashes. The goal is to assess the mistakes and explore the future holds for Boeing by analyzing the already implemented strategies and conducting extensive research to allow for recommendations.

Research Objectives

i. To explore the strategies and decision-making process for Boeing before the 737 Max crash

ii. To examine the strategic and decision-making changes after the 737 Max crash

iii. To explore how the Boeing Company can explore diverse strategies and decision-making processes to enhance its business operations

Introduction

The 737 Max crashes marked a significant phase of the Boeing Company. It revealed important information about its business operations and a phase that challenged its aerospace leadership. The company maintained its competitive advantage for decades, and these incidences contributed to a shift in its business strategy (Sorscher, n.d). The crashes prompted a change in the company's CEO to regain confidence restore relationships with stakeholders, customers, and regulators. It was also followed by court battles that saw significant compensation in settlements and constant lawsuits from victims. Resuming service meant one thing for the Boeing Company- it had to assure that the 737 Max was safe through multiple tests by FAA (PBS, 2021). However, there was resistance from various global airline regulators who chose to take more time in the certification process. It meant that the business operations for Boeing had changed, and it was facing different market structures that required a unique approach.

In keeping with those challenges, this research project desires to examine the prevailing market and the approach adopted by the Boeing Company to respond to the growing challenges. It also explores strategies and decision-making processes to counter the global challenges. The paper will give a historical approach to Boeing's business excellence and the strategies associated with such success. It will then analyze the shift in market structure and the corresponding strategies and decisions to address the challenges. Overall, the project will answer the research question and share recommendations essential in revolutionizing Boeing's business operations model.