Custom «Team Paper: Rolls Royce» Essay Paper Sample
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Rolls Royce is a famous international company with business around 135 countries. Besides, Rolls Royce has become a well-known and prestigious brand in the world thanks to high-class quality and reliability of its products. The company was established by two English engineers in Manchester. The formal agreement between Henry Royce and Charles Stuart Rolls was concluded under new the brand Rolls Royce at the beginning of the 20th century. Royce focused on the development and production the automobile business, and Rolls had interest in flights and focused on the construction of aircraft engines. The first cooperation activities of the company began with the production of luxury cars. However, during the Second World War, the company Rolls Royce engaged in the aircraft industry and concentrated on the production of aircraft engines for military planes. The production capacities of Rolls Royce are located in 14 different countries, including the USA, China, and Singapore. Approximately 40,000 employees work in different business directions of the company. Mainstream development of the business ranges from production of engines for civil and military aviation to the manufacture of high-class cars. According to Vigneron and Johnson (2004), Rolls Royce is perceived as a brand of luxury cars-makers. Moreover, the firm is aimed to manufacture aero-engines for aviation industries giants. Thus, Rolls Royce sets engines in every type of commercial aircrafts constructed by Airbus and Boeing. Moreover, the company is a provider of high-class technology to the clients. The paper provides a detailed overview of the organization’s vision, mission, strategies and main goals that gives a deeper insight into the current situation and future direction of development of the company Rolls Royce.
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Strategic vision determines the direction in which a company going to develop and shows a clear picture of how the business has to look like. The vision of Rolls Royce is closely related with constant development in the sphere of innovation and never-ending search for improvement. According to Covey (2012), the company’s vision is “Strive for perfection in everything you do. Take the best that exists and make it better. When it does not exist, design it” (p.132). Accordingly, Rolls Royce tries to improve is position in the future through investing in innovations, technology, people and the process of production. New technology and innovating systems are arising from dramatically changing the world. Therefore, Rolls Royce strives to be competitive by constantly improving the technology base and innovating systems. This vision will allow the company to increase the efficiency of production and reduce its environmental impact. As a global leader of energy systems production, the company plays the central role in solving environmental problems and challenges that the world faced. The vision as the first step of global development of the company allows the management of Rolls Royce to create a strong base to further improve the mission and provide assistance when taking strategic decisions.
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The mission defines the main goals of a company which indicate future directions for its development. The mission of the company Rolls Royce is providing the best energy systems and aircraft engines in the world. Rolls Royce is aimed to increase the quality and efficiency of aero-engine manufacture and energy systems by using cutting-edge technology and innovations. Currently, Rolls Royce is aimed to develop new efficient aero-engines for modern aircrafts. Moreover, Rolls Royce lays emphasis on expanding and improving the car industry. The mission of the company Rolls Royce is to provide comfortable and reliable driving experience on land, water and in the air. The implementation of advanced technologies and the innovating approach contributed to creation of high-class and reliable cars. The company is aimed to produce cars of perfect quality and reliability; that is why every car is brought to perfection. The key directions the company’s mission such as the development of innovation, high-end technology, effective aircraft engines and high-quality cars determine the future of Rolls Royse.
Rolls Royce has the three main strategies which determine the priorities of the company. Nowadays, Rolls Royce pursues such powerful strategies as developing and researching new innovation, growing the market share in the global energy system, and improving the service for customers through provision of after-sale service. The main strategy of Rolls Royce is to develop a great basis for research and development of innovation. In fact, the company pays particular attention to the advancement of new technology which is necessary to support in the competitive market environment on a regular basis. Considering the cost of research and development for the last ten years, Rolls Royce is focused on launching new technological developments through cooperation with many universities around the world. Having a strong position on research and capacity for development, Rolls Royce tries to retain the advantages of high-end technologies and lead the industry with new advancements in technology. The strategy of developing and researching new innovation can lead the company Rolls Royce at launching a new category of the product line.
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Rolls Royce chose the strategy of growing the market share in the energy system on a global scale. With aircraft engines now becoming a mature and reliable product, Rolls Royce can improve the global market share as well as achieve a competitive advantage in the business environment through increasing the volumes of production and sales. Moreover, the company can employ this strategy in several different ways, namely through mergers or acquisitions, provision of after-sales service for clients, and increasing the products range. In fact, the worst variant is mergers and acquisitions because it takes long time and can complicate the task.
Finally, Rolls Royce strives to change the orientation from basic engineering towards more customer service oriented culture. Barrett, Davidson, Prabhu, and Vargo (2015) claim in their study that “Instead of simply selling engines to their customers (e.g., airlines), Rolls Royce developed a product–service system” (p.137). However, it needs more cooperation and participation in working with the customers to satisfy their needs. Satisfying the clients’ needs by offering the best services is the most powerful strategy of Rolls Royce. The company tries to improve the service for customers through the provision of better selling service and after-sale service. To receive a large share in the market, the company needs to concentrate on after-sale service more than the sale of the products. The information services, after-flights technical support services, and the highest quality selling services can help strengthen the trust of clients. Rolls Royce should care about the customers by satisfying their current and future needs.
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The goal is defined as an intermediate result of achieving a part of the large plan by a specific period of time. The company has occupied the leading position in new and high-quality technology for a long time and continues to improve the quality and safety of the products. However, the goal of the company Rolls Royce is to be a leading stable business in the car and airline industry with a sustainable development. Considering that now the world is greatly focused on environmental problems, the aircraft industry is the center of the global attention of the environmental protection organizations. All engine producers, including the analyzed company, try to reduce their carbon emissions and make their engines more economical and less noisy.
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Another goal of the company is investing in people’s skills through training. Consequently, Rolls Royce is aimed at developing and providing traineeship programs. The listeners have an opportunity to develop extraordinary technical and professional skills and later display excellent organizational skills during the whole training and at work. Rolls Royce sees the listeners as the future team of the company. Thus, many leaders of the company started their career in Rolls Royce with traineeship programs. The company invests in learning and development programs to ensure that skills, knowledge, and support of people achieve the full potential. The company strives to reach the goal through teaching young people the necessary skills, thereby contributing to improved future of the society.
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In conclusion, Rolls Royce is a well-known brand with a great world history which is oriented on development of high-qualities, efficient and reliable technology. The company Rolls Royce operates in many different fields of business ranging from luxury car and commercial aerospace markets to defense aerospace market, marine market, and energy market segment. The vision of the company is related to constant research and improvement in the sphere of innovation. The company strives to achieve perfection in every sphere of its operation and every business process. The mission of Rolls Royce is to increase the quality and efficiency of the energy and car industry by using advanced technology and innovations. To provide convenient and reliable conditions for driving, the company focuses on expanding and improving the car industry. Achievement of the main strategies and goals of Rolls Royce is a guarantee of future success of the company. Such strategies as development of innovation and provision of a good service for clients can strengthen the position of the company in the competitive market environment. Traineeship programs contribute to the future of the society and make Rolls Royce a unique company. Nowadays, Rolls Royce has the leading position in the production, technological development, and innovation in the aircraft industry with the implementation of high ecological control of the environment.