Intellectual assets are important drivers of wealth creation and competitive advantages. Boeing’s human and social capital, technology, and intellectual property rights all contribute to value of the company. Human capital is the foundation of intellectual capital at any firm. Boeing’s employees make the company possible. Employees are hired for their specific set of skills that will allow them to excel in a certain position. While these capabilities are obviously necessary, Boeing expects more from their employees than just expertise in one field. Boeing requires all employees to be a problem solver, to understand technical fundamentals, and to be creative.
The common values and attitudes of the Boeing’s employees increase the human capital …show more content…
The networks for specific firms enable that firm to function effectively. Boeing has relationships with its employees, operators, and technical service centers. Boeing has networked outside of these typical business relationships, though. Peter Hoffman, the vice president of Intellectual Property Management for Boeing, has spoken about Boeing’s connections with non-competing businesses. Boeing decided to share its new developments with these businesses so that they can all benefit from the growth within each company. Huffman described it as a win-win situation. Boeing has also built relationships with over 50 international universities, 22 joint research centers, and 20,000 suppliers and partners. All of these relationships contribute to Boeing’s social capital. The firm’s strong network has contributed to its …show more content…
The company has thousands of patents and inventions that are valuable to the firm. “These range from advancements in materials, structures and electronics to improvements in aircraft assembly, performance, operations, maintenance and flight simulation, to innovative satellite and space vehicle capabilities, to advancements in information technology and civilian and military network-centric communications.” In fact, Boeing has been rated the nation’s top innovator among aerospace and defense companies based on the number of new patents it has received and the strength of its patent portfolio. Intellectual property runs throughout Boeing and has allowed the company a competitive advantage in the defense
The common values and attitudes of the Boeing’s employees increase the human capital …show more content…
The networks for specific firms enable that firm to function effectively. Boeing has relationships with its employees, operators, and technical service centers. Boeing has networked outside of these typical business relationships, though. Peter Hoffman, the vice president of Intellectual Property Management for Boeing, has spoken about Boeing’s connections with non-competing businesses. Boeing decided to share its new developments with these businesses so that they can all benefit from the growth within each company. Huffman described it as a win-win situation. Boeing has also built relationships with over 50 international universities, 22 joint research centers, and 20,000 suppliers and partners. All of these relationships contribute to Boeing’s social capital. The firm’s strong network has contributed to its …show more content…
The company has thousands of patents and inventions that are valuable to the firm. “These range from advancements in materials, structures and electronics to improvements in aircraft assembly, performance, operations, maintenance and flight simulation, to innovative satellite and space vehicle capabilities, to advancements in information technology and civilian and military network-centric communications.” In fact, Boeing has been rated the nation’s top innovator among aerospace and defense companies based on the number of new patents it has received and the strength of its patent portfolio. Intellectual property runs throughout Boeing and has allowed the company a competitive advantage in the defense