Strategic advantage
Over the last decade, Honeywell has been able to increase annual sales exponentially and amplify its acquisitions. By diving the organization into three Strategic Business Groups (SBG), Aerospace, Automation and Control Solutions, and Performance Materials and Technologies, they have been able to better execute their strategy and focus on the global market (Honeywell.com, 2016). In an effort to continue the growth globally in the organization and to maintain a strong competitive advantage, the CEO has established an aggressive strategy, to align the acquisitions that are entered into with the current business model and those areas of market that the organization is presently operating. Therefore, the business has been able …show more content…
Honeywell’s leverage of its business model and the six key bases of competitive advantage, customer market, products and services, business system, assets/resources, partners, and scale/scope throughout its existence has driven its success through the combination of their strategic and comparative advantages (Yip & Hult, 2012). The organization in the very early years, dove into the thermostat market and became well known for innovation and was the market leader in the ‘50s. Because of the type of quality delivered and the continuous focus on cost reduction and customer focus, Honeywell has dominated the markets they operate in and created competitive leverage in multiple areas with their sophisticated technological …show more content…
Because of the their drive and determination, they have been able to add strength to the product and services corner of “The Hexagon of Competitive Advantage”, through innovation and integration of thousands of low cost quality customer sought after products. The organization produces numerous technological products from an Aerospace market to home solutions, for the average individual (Honeywell.com, 2016). The wide market segmentation the company has competed in, allows Honeywell the edge it needs to maintain a comparative basis of advantage and remain a leader in certain markets globally. Another advantage that not only supports the global growth, but the company as a whole is, the focus on customer market and products and services through the utilization of internal tools and processes like, the Honeywell User Experience (HUE), a tactic that aids in the design and development of new products and services. HUE starts with a focus on the customer experience and then moves into the deployment of rapid prototyping and other design principles, which support faster cycle times and lead to an increased customer value and loyalty (Honeywell, 2016). The targeted focus of these types of tools propels Honeywell’s strategy to the next level and displays the type of superior infrastructure needed to continue to be a
Over the last decade, Honeywell has been able to increase annual sales exponentially and amplify its acquisitions. By diving the organization into three Strategic Business Groups (SBG), Aerospace, Automation and Control Solutions, and Performance Materials and Technologies, they have been able to better execute their strategy and focus on the global market (Honeywell.com, 2016). In an effort to continue the growth globally in the organization and to maintain a strong competitive advantage, the CEO has established an aggressive strategy, to align the acquisitions that are entered into with the current business model and those areas of market that the organization is presently operating. Therefore, the business has been able …show more content…
Honeywell’s leverage of its business model and the six key bases of competitive advantage, customer market, products and services, business system, assets/resources, partners, and scale/scope throughout its existence has driven its success through the combination of their strategic and comparative advantages (Yip & Hult, 2012). The organization in the very early years, dove into the thermostat market and became well known for innovation and was the market leader in the ‘50s. Because of the type of quality delivered and the continuous focus on cost reduction and customer focus, Honeywell has dominated the markets they operate in and created competitive leverage in multiple areas with their sophisticated technological …show more content…
Because of the their drive and determination, they have been able to add strength to the product and services corner of “The Hexagon of Competitive Advantage”, through innovation and integration of thousands of low cost quality customer sought after products. The organization produces numerous technological products from an Aerospace market to home solutions, for the average individual (Honeywell.com, 2016). The wide market segmentation the company has competed in, allows Honeywell the edge it needs to maintain a comparative basis of advantage and remain a leader in certain markets globally. Another advantage that not only supports the global growth, but the company as a whole is, the focus on customer market and products and services through the utilization of internal tools and processes like, the Honeywell User Experience (HUE), a tactic that aids in the design and development of new products and services. HUE starts with a focus on the customer experience and then moves into the deployment of rapid prototyping and other design principles, which support faster cycle times and lead to an increased customer value and loyalty (Honeywell, 2016). The targeted focus of these types of tools propels Honeywell’s strategy to the next level and displays the type of superior infrastructure needed to continue to be a