Manufacturing and Production of the 787 Dreamliner
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Discuss whether you believe Boeing is labor-intensive, capital-intensive, or both after reading the article “Boeing’s Secret” and seeing the video “How a Boeing 787 Dreamliner is Built.” Has Boeing figured out how to create a “network effect” for their product?
R1: After the lecture, I came to the conclusion that Boeing’s processes are more capital-intensive than labor-intensive. Boeing is one of the airlines that has faced economic challenges, catastrophes, and hazards while remaining profitable because to its sound strategy and management strategies (Zhang, 2016). With a substantial amount of investment engagement, the organization combat accounting fraud quietly and maintained the integrity of its business. Boeing had a production problem in 1997, which resulted in a catastrophic drop in its market share and turbulence by several initiatives, causing numerous internal modifications that may rejuvenate the company (Bloomberg, 2002).
When it comes to this issue, Boeing is both capital- and labor-intensive. As a labor-intensive company, its manufacturing is heavily reliant on labor. It was forced to limit its work in order to save labor costs and expenses, but it made the most of the work that was available to maximize output. Due to the current global rivalry, Boeing has been working to improve its monthly performance in order to avoid crises in recent years (Chui, 2018). The firm has used both an intense capital strategy and an intense labor strategy to help fix many of the financial challenges that have harmed the economy’s stability.
In summary, Boeing had to employ these strategies to change its business and production strategy in order to compete with fierce commercial rivals (Aboulafia, 2015). It’s worth noting that the company made deliberate changes and invested heavily in labor and capital as a strategic approach to reduce high operating costs, but that doubling production will allow it to realize additional revenues in the long run, allowing it to survive corporate risks and recover wherever a crisis occurs (CNN, 2020).
R2: The concept of production function was developed by McGuigan, Moyer, and Harris (2017). The function depicts the combination of inputs that results in a specific level of output. To make their goods, the producers need raw resources and labor. They are capable of consuming both fixed and variable input (McGuigan et al., 2017). Fixed inputs have a cost that is independent of the number of units produced.
The video by Chui (2018) demonstrates how Boeing employs both labor and capital in its operations. It, for example, imports Dreamlifter OPS components from various places. South Carolina, North Charleston, Japan, and Italy are among the regions. This exemplifies the use of capital. The plane is put together in eight different regions. As a result, supervisors and controllers are present at each stage to ensure efficiency. Employees are an element of the firm’s labor force (Chui, 2018). They also aid in the wiring of the aircraft, which requires a large number of people if the aircraft is to be completed quickly.
The management will also need money in the form of machinery to transfer aircraft parts from one assembly place to the next. Some automated operations, such as woodworking and painting, are also performed by the machinery (Chui, 2018). As a result, the business is both labor and capital intensive. The efficiency of production is dependent on the combined efforts of machines and humans (Chui, 2018). The management is unable to properly substitute one form of input for another.Chui (2018) further demonstrates how network effects benefit management. There are eight roles in the assembly plant, ranging from zero to seven. Positions one through seven make use of the tasks completed in position zero. As a result, management can get value from the first operations (Jorgenson, 2015). It also imports assembled parts from other parts of the world. After reading the article “Boeing’s Secret” and seeing the video “How a Boeing 787 Dreamliner is Built,” describe if you feel Boeing is labor-intensive, capital-intensive, or both. Has Boeing figured out how to create a “network effect” for their product?
R1: After the lecture, I came to the conclusion that Boeing’s processes are more capital-intensive than labor-intensive. Boeing is one of the airlines that has faced economic challenges, catastrophes, and hazards while remaining profitable because to its sound strategy and management strategies (Zhang, 2016). With a substantial amount of investment engagement, the organization combat accounting fraud quietly and maintained the integrity of its business. Boeing had a production problem in 1997, which resulted in a catastrophic drop in its market share and turbulence by several initiatives, causing numerous internal modifications that may rejuvenate the company (Bloomberg, 2002).
When it comes to this issue, Boeing is both capital- and labor-intensive. As a labor-intensive company, its manufacturing is heavily reliant on labor. It was forced to limit its work in order to save labor costs and expenses, but it made the most of the work that was available to maximize output. Due to the current global rivalry, Boeing has been working to improve its monthly performance in order to avoid crises in recent years (Chui, 2018). The firm has used both an intense capital strategy and an intense labor strategy to help fix many of the financial challenges that have harmed the economy’s stability.
In summary, Boeing had to employ these strategies to change its business and production strategy in order to compete with fierce commercial rivals (Aboulafia, 2015). It’s worth noting that the company made deliberate changes and invested heavily in labor and capital as a strategic approach to reduce high operating costs, but that doubling production will allow it to realize additional revenues in the long run, allowing it to survive corporate risks and recover wherever a crisis occurs (CNN, 2020).
R2: The concept of production function was developed by McGuigan, Moyer, and Harris (2017). The function depicts the combination of inputs that results in a specific level of output. To make their goods, the producers need raw resources and labor. They are capable of consuming both fixed and variable input (McGuigan et al., 2017). Fixed inputs have a cost that is independent of the number of units produced.
The video by Chui (2018) demonstrates how Boeing employs both labor and capital in its operations. It, for example, imports Dreamlifter OPS components from various places. South Carolina, North Charleston, Japan, and Italy are among the regions. This exemplifies the use of capital. The plane is put together in eight different regions. As a result, supervisors and controllers are present at each stage to ensure efficiency. Employees are an element of the firm’s labor force (Chui, 2018). They also aid in the wiring of the aircraft, which requires a large number of people if the aircraft is to be completed quickly.
The management will also need money in the form of machinery to transfer aircraft parts from one assembly place to the next. Some automated operations, such as woodworking and painting, are also performed by the machinery (Chui, 2018). As a result, the business is both labor and capital intensive. The efficiency of production is dependent on the combined efforts of machines and humans (Chui, 2018). The management is unable to properly substitute one form of input for another.
Chui (2018) further demonstrates how network effects benefit management. There are eight roles in the assembly plant, ranging from zero to seven. Positions one through seven make use of the tasks completed in position zero. As a result, management can get value from the first operations (Jorgenson, 2015). It also imports assembled parts from other parts of the world. After being incorporated into the airplane, the parts become more valuable.
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