Strategic management is a crucial tool for the success of any organization. Gulf Aerospace has been operating since the 1950s as a major manufacturer of commercial and business aircraft. Research has found that a large number of companies in the Fortune five hundred list use aircraft manufactured by Gulf Aerospace. The company was originally used by Grumman Corporation, a manufacturer of military aircraft, to enter the commercial aviation industry. The following decades witnessed the growth of the company by an increase in the number of technical and qualified workforce.
The company has also has extensive operations and clients in different countries. Strategic managers of the organizations have made precise and concise plans for the achievement of objectives and plans. The company has tried to work hard to ensure that its customers are understood properly. The goals of the company have been to provide efficient and effective products by the use of an active and dynamic team. Strategic management is a diverse and complex process which consists of appraisals, evaluation, observation, analysis, and assessment of the external and internal market.
This process also involves looking at the political, economic, social, and technological factors which affect the company in the aviation industry. It consists of properly mobilizing and utilizing the resources of the company to overcome the obstacles and hurdles it faces. The slump and decreased profits of the aviation industry in the post 9/11 world will lead to Gulfstream aerospace to develop innovative methods for surviving inside an increasingly competitive business market.
References: Pearce, John A. Robinson, Richard B. (2003). Strategic Management: Formulation, Implementation and Control. Irwin/McGraw-Hill. The History of Gulfstream: 1958 – 2008. Retrieved September 19, 2008, from Gulfstream Web site: http://www. gulfstream. com/history/index. htm Joe Lombardo. Retrieved September 19, 2008, from Gulfstream Web site: http://www. gulfstream. com/news/biographies/lombardo. htm