|Type of paper:||Research paper|
|Categories:||Marketing Ethics Human Disorder|
The firm is situated in Farmington, Connecticut based corporation that provides high based technology-based products and services to industries dealing with aerospace and building systems. It thus targets organizations that deal with airplanes. The method of operation for the company is based on four segments that include complex inspection and testing collection, extended configured airfoil milling models, as well as complex geometries based on CAD and CAM ("New England Airfoil Products," n.d.). The business has a well-integrated supply chain from R & D through products design while involving the customers ("NEAP," n.d.). The aim of this initiative is to provide solutions to intricate manufacturing demands and improvement of products.
Company and Industrial Specifics
The company has a variety of services that are either in the house or in part its supply chain that deals with a range of services. The company in operation since 1955 has the total number of 147 employees specializing in turbine elements for utilizing in sea, land, and air (NEAP, n.d.). Its central interest is on the cold part of airfoil manufacture and other related ones in metallic components. It deals with a variety of products and services that include; heat treatment, blazing, casting, forging, coating, CT scanning, concurrent engineering, forming, peening enhancement, and assembly as well as a testing ("New England Airfoil Products," n.d.).
New England Portfolio considers SWOT analysis as a strategic tool of the management of situational evaluation in the entity. Due to the emerging trends in the business environment, it is a reliable tool to identify the company strengths, weaknesses, opportunities and future threats.
The debut strength is offering a variety of products and services both in the house and in their supply chain. New England Company can achieve this by its initiative for talent management based on team complementary and skill improvement for its staff members. This has in return enabling the company to achieve a high level of innovation hence diversifying their products and services. The company has five types of technologies that are placing them miles ahead of its rivals in small scale production.
The next strength of New England Portfolio is their success in research and development after investing heavily on the issue. When comparing New England Portfolio with other rivals in their level research and development aspects are the crucial difference between their levels. For instance, as a result of R&D, as a result of these innovations, the business can provide alternative surface finishing approaches such as Vibro finishing technology (Martinez-Jurado & Moyano, 2014). It has significantly contributed to minimizing of about half of the total environmental emission and 16% energy consumption. Moreover, in development, the company has set the system segment to full focus on automation. The company has allocated over billions on research and development, and that is the vast difference with its other rivals.
The company also maintains its strength on its durable distribution, facilities, and potential customers in all corner of the local market. The business has adopted an integrated supply chain where some of the products are produced within the supply chain to suit customer needs. The chains are designed in a way that there are increased customer interactions to improve the quality of the firm's products and services. The marketing strategy is customer oriented; thus, their supply chain is more flexible to suit the changing customer demands. The objective of the business is to achieve a high percentage of the domestic market and in the future expand to the international stage. In addition to this, the company is under visionary and accountable leadership under the current manager that is the president of North America, Pietro Rosa Group. The management plays a significant role in the crucial development process such as the improvement of talent to realize innovation. Due to its management, the company has implemented reliable acquisition measures. They have performed to expectations in acquiring technologies such as highly configured airfoil tools, steel machining, and well-structured geometries.
New England Portfolio has its vulnerable areas where it has to improve to maintain its development agenda in enhancing innovations. The debut weakness of the company is poor management of finance and other crucial resources. The company has significant debts with the current asset ratio and liquid ratio suggesting the company can make more improvement in the management of financial resources New England Patriots: Making the team (SWOT analysis: SWOT matrix," n.d.). Also, the latest rate of returns compared to that of Net Contribution is ranked as below average, thus the need for improvement. The business has lost the grip of a sizeable share of the market thanks to its weakness in addressing emerging problems that are stimulated by entrants in the market. However, the company is concerned about the unique challenges by setting an internal feedback system connected to the sales personnel though it achieved below par expectations.
New England Portfolio has found it challenging to register breakthrough in the activities that are outside its core domain that is technology. The company performs dismally in other areas despite its global influence and scale with the translation facing harbors due to its contemporary culture (Wiser & Langniss, 2012). There is evidence of the wide gap in the product range that is offered in the market by NEP. The lack of variety of preferences in most cases benefits close rivals. The situation is made complicated by the inability of the company to make accurate predictions, thus missing opportunities that make competitors gain from the situation ("New England Patriots: Making the team SWOT analysis / SWOT matrix," n.d.). There is sizeable of resources that the company uses on recruitment and development of new employees due to the high attrition rate among its employees. The company ends by losing experienced employees and spending more money on acquiring new ones.
Various opportunities are within the NEP disposal with debut one being the reduced inflation rate that results in more sustainability in the market. Another significant opportunity for NEP is the emerging technology and advancements that are the key to implemented differentiated marketing approach for its products. It would boost the ability of the company to maintain its potential customers with the quality of service as well as attracting new ones. The company has created an online customer platform that has created a new customer base for the online platform. In recent years, the firm has committed a lot of resources on developing an online platform to streamline interaction between the entity and customers. In the coming future, the company can focus on the investment to understand its customers' interest and effectively respond to their needs. NEP can also gain from emerging changes such as environmental and taxation policies that impact the performance level of any business. It is an excellent advantage for NEP has it will level the industry; thus the firm can utilize their technology resources to dominate the market by providing improved products and services. The sector is faced by changing consumer perceptions and demands that can be a chance for NEP to expand their categories of products to enlarge their profit margin.
However, despite the company making strides in transforming by changing the trends, several risks seem to have a considerable impact. The debut one is an imitation of counterfeit and substandard goods that might affect its influence in the market shortly. The trend will destroy positive relations with its customers thus influencing the market share. Moreover, there is an insufficient skilled human resource in the market, as they are busily engaged elsewhere. In other global areas, there is a lack of adequate experienced people which a threat to the level of returns in such places as the only alternative is importing labor which to some extent expensive.
Moreover, there is an emerging threat of middle distributors that are being favored by the competition as they are earning more returns than NEP. The company might be affected by new legislation that seeks to attract more players in the sector. Moreover, there are legal trends such as environmental laws and discrimination laws that might affect the performance of the business in the future.
The business receives stiff competition from other small and big scale players in the industry such as United Technologies and Pratt & Whitney. The prominent players in the market enjoy economies of scale that make it hard for small players to rise in the industry. For instance, Pratt & Whitney receives a lot of competition for incoming airframe combination. There are increasing joint ventures in the aerospace competition that is making it hard for New England Portfolio to influence the market as before. For instance, the International Aero Engines is turning dominant with time as they can provide discounts, financial aid, guarantees, financial decision making and signing agreements (Natalicchio, Petruzzelli & Garavelli, 2014). The factors have a considerable influence on the customer demand for engines, thus turning the industry even more competitive.
Besides, change in customer preferences can have a significant impact on adjacent elements such as service and spare parts. In addition to direct competition, the company is facing the problem of diversifying its range of products and services for the benefits of its competitors (Natalicchio et al., 2014). The other players in the market can take advantage of expanding their products increasing their dominance in the market. The local distributors are joining the field and earning excellent returns compared to NEP. They are turning the industry more competitive as the NEP has to cope with their prices to survive in the market.
PESTEL is a useful tool for the New England Portfolio in analyzing the company macro environment. It examines the political, environmental, social, technological, economic and legal aspects of a business that influence the daily operations. Political factors have a significant impact on the performance of New England Portfolio Company in the industry. One of the main factors is the political stability that has downplayed the relevance of the Aerospace defense tools coupled with lack of military invasion. Moreover, government policies have a significant impact on the activities of the companies in the industry due to the legal procedure before allowed to purchase the items. There are also anti-trust laws that are being enacted controlling the manufacture of such things (Wiser & Langniss, 2012). There are a variety of rules such as trade regulations, wage legislation, taxation laws, and tariffs and so on that might influence the performance of New England Portfolio.
Economic factors influence the operation of NEP that refers to variables such as inflation, wages, savings, investment, foreign commerce. There are a variety of economic factors that can influence operations in NEP. The business has to deal with the changing economic environment such as in terms of inflation, taxes, rates that might deter its plans in making future predictions.
Social factors that might influence the company include social structure and hierarchy in society with people who have different forms of living. The company has to comply with the cultural practices in the places of operation. The company has to adjust to cultural aspects such as entr...
Cite this page
New England Airfoil Products Inc.. (2023, Jan 11). Retrieved from https://speedypaper.com/essays/new-england-airfoil-products-inc
If you are the original author of this essay and no longer wish to have it published on the SpeedyPaper website, please click below to request its removal:
- Essay Example on War on Terror in Qatar
- Essay Sample: Value Maximization and Stakeholder Theory
- Free Essay Sample: Rape Culture and Reproductive Justice
- Technology and Consciousness - Free Essay on Fahrenheit 451 by Ray Bradbury
- Essay Example on Cultural Encounters Manifestation in Literary Works
- Essay Sample on Trade Between Asia and Western Cultures
- Paper Example. Alzheimer's Disease International Care Home