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Boeing Innovation Strategy

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Submitted By norbertoro
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Boeing Innovation Strategy
Shayne Arndt, Lee Eadie, Sridhar Lakshminarayanan,
Norberto Rodriquez, Phylicia Smith, and Amber Thompson
STR/581
April 2, 2012 Cassandra Molavrh

Boeing Innovation Strategy Innovations are a fundamental prerequisite for competitiveness. The economic crisis forced most businesses to conserve funds in various operational areas. Innovation strategy in any business or industry involves aligning the product life cycles in the company with the various research and development activities. Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. A top United States exporter, the company supports airlines and United States and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and, performance-based logistics and training (Boeing, 2012).
Boeing’s Background
In the ever-changing business environment, organizations are constantly seeking ways to diversify products and revenue sources, create the best organizational structure, and foster productive work environment cultures through innovation strategies. Boeing is a leading innovator in the aviation industry. The organization faces industry-wide challenges including increasing fuel costs, price-conscious customers, and increased demand for convenient air travel to a multitude of destinations. Innovative thought leadership is the key to “thinking outside the box” and identifying alternative ways to deliver optimal service at lower costs or in ways that bring increased value to the organization.
Examples of innovative practices
In 2008 Boeing launched the biofuel (kerosene-based and hydrogen fuel) and solar-powered

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