Leading Organization & People : Project Plan

Project 2 Situation Audit (Steps 1 & 2)

Robert E. Townes

University of Maryland Global Campus

MBA PRO 610: Leading Organizations and People

Dr. Evelyn Gonzalez-Figueroa

January 01, 2021 Analyzing Raytheon

Introduction

The Raytheon Technologies Corporation is the organization that I have selected to conduct a situation audit. Raytheon was established in Cambridge, Massachusetts in 1922 as the American Appliance Company by three scientist-engineers Vannevar Bush, Laurence K. Marshall, and Charles G. Smith (Schmidt 2020). The future purpose of this Situation Report will be a source of information for senior stakeholders and will summarize the current situation by focusing on key internal factors that subscribe to an overview of the company’s structure and strategy.

Organization MVVGs

In order for an organization whether large or small to have success it must provide their employees with a mission and vision. These two concepts are important to the organization’s strategy that will build a strong foundation to support future goals and operational tactics. Mission and vision are two different ideas and are often compatible however; they are two different features of the organization (Ahmed 2019).

Porter’s Generic Strategy

Michael Porter is an economic researcher who created a generic strategy that would revolutionize how successful companies maintain a competitive edge in manufacturing their products (Capism 2015). In the 1980s, he examined the competitive behaviors of successful organizations in how they maintained long-term advantages over their competitors. He discovered there were three concepts that remained consistent throughout his research and they were Cost Leadership, Differentiation and Focus (Capism 2015). In the later years after further research and companies began evolving he restructured his ideology to fit the current concepts of Cost Leadership, Differentiation, Cost Focus and Differentiation Focus (BusinessBalls 2019). The Porter’s applies

“To be the most admired defense and aerospace systems company through our world-class people, innovation and technology.”

Vision-2020

One Global team creating trusted, innovative solutions to make the world a safer place.

Values-2020

Trust- We act with integrity and do the right thing

Respect- We embrace diverse perspectives and treat others the way we want to be treated.

Accountability- We honor our commitments expect excellence and take pride in pour work.

Collaboration- We share insights, learn together and act as a team.

Innovation- We experiment, design, build and transform with speed and agility.

Goals- 2008 (these goals have not been updated.)

Customer- Be regarded as a customer-focused company known for its technology and innovation.

Growth- Grow revenue faster than the Market. Build on good performance in improving cash flow. Execute well and with predictability.

People- Retain and attract world-class talent while providing superior opportunities for employee development.

Productivity- Improve ROIC for Raytheon Company. Take Raytheon Six Sigma to the next level, further engaging customers and partners.

References

Ahmed, Anam. (2019, March 14). Importance of mission vision in organizational strategy.

Capism. (2015, September 2) An introduction to Porter's Generic Strategies – Capsim

Retrieved form https://www.capsim.com/blog/an-introduction-to-porters-generic-strategies/

BusinessBalls. (2019, May 1). Porter's generic (competitive) strategies. Retrieved form https://www.businessballs.com/strategy-innovation/porters-generic-competitive- strategies/

DeWitte, Dave. (2020) High-stakes launch: Raytheon Technologies lifts off with plenty to prove. Corridor Business Journal; 12/28/2020, p16-16, 2/3p Retrieved from https://www.corridorbusiness.com/raytheon-technologies-lifts-off-with-plenty-to-prove/

Airline Industry Information (M2). (2019, October 29) Raytheon names new presidents following merger with United Technologies

Raytheon Co. (2020, May 5). Raytheon company strengths, weaknesses, opportunities and threats (SWOT) analysis. p1-8. 8p.

Fandray, D. (2000, December). The ethical company. Workforce (10928332). Vol. 79 Issue 12, p74.

CH, companies’ history. (2021). Raytheon company overview. Retrieved from https://www.companieshistory.com/raytheon/

Schmidt, A. (2020, November 20. Raytheon company: An introduction. Market Realist

Retrieved from https://marketrealist.com/2015/04/raytheon-company-introduction/

Meyer, M., (2018, July 21). The rise and fall of Vannevar Bush. Science History Institute

Retrieved from https://www.sciencehistory.org/distillations/the-rise-and-fall-of-vannevar-bush