Business structure and industry focus areas
This organization is one of the oldest conglomerates in America having started its business over 100 years ago. The organization incorporates a diverse system of operations as it is involved in the production of consumer and commercial products, engineering services, and systems for aerospace related corporations and customers. In an effort to effectively control its numerous business activities, the company has employed a three-pronged structure to smoothly run its daily operations. There is the Honeywell Aerospace which is responsible for manufacturing aircraft engines and avionics. Thus, unit of the business is also involved in the production of auxiliary power units among other aerospace products. With nearly $10 billion in annual revenues, this division of the company accounts for nearly a quarter of the total earnings of the entire conglomerate. The company division also participates in production of both commercial and defense contracts with its ascension to success experienced in the Second World War when equipping avionics to US bomber planes and the auto-pilot systems.
Another primary division for the conglomerate is the Honeywell Automation and Control Systems. In this division, there are over 400 products that are manufactured in seven major groups. These include environmental and combustion control, sensing and control & scanning and mobility, industrial and fire safety, building solutions, and security services and products. In this regard, the technologies developed in the environmental and combustion sector have been integral to solving the world’s major problem of global warming. Nearly half of its revenue in this division is linked to energy efficient products. Furthermore, the organization participates in supporting clean air and water for safe and healthy living. The final unit in the conglomerate is the Honeywell Performance Materials and Technologies. This division incorporates nearly six different units all involved in manufacture of advanced products and process technology used in various industries including the oil and gas processing.
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Management and leadership objectives
In an effort to create a successful business, one of the crucial factors is the establishment of an effective leadership and management structure. The conglomerate has more than 130,000 employees across the world with approximately 58,000 employed in the US alone. Effective control and guidance of this workforce is a primary concern particularly in ensuring that the company can achieve its aim of providing quality and the delivery of results in all of its contracts. The first major objective is ensuring equipping its senior leaders with business skills as a measure of merging functionality and business operations. In the past, its leaders were solely experts in their various sectors. However, through challenging them to transform into business thinkers, the organization has created a culture of entrepreneurship among its new leaders. The workers in management positions can therefore come up with global projects with a clear understanding of the financial implications to the organization.
Another objective for the leaders and the management personnel is ensuring clear understanding of the business’ goals. As previously mentioned, the organization has over 130,000 employees and this could be tasking especially since the company has a diverse industry involvement. Therefore, leadership personnel are required to participate in the guiding their subordinates towards the company’s vision. This practice ensures that all workers are well aware of the roles they play and its importance towards achieving the long-and short-term goals. The leaders are also accountable for ensuring business operations meet the human resource standards that will help realize these goals. Honeywell conglomerate has an objective to ensure continued development of its personnel as the company continues in its business practices. In this case, previous assessments of performance are incorporated to ensure that employees are improving in their competencies as a measure of achieving high levels of success in the future. New targets are created as the company aims even higher in long-term goals.
Methods used for business growth and expansion
One of the primary factors for Honeywell Conglomerate’s continued success is its ability to identify a market niche and pursue it without backing out. The enterprise has created a culture of entrepreneurship among its leaders and personnel. This practice encourages the entire workforce of the company to participate in business growth and development of the company. For instance, engineers who are approximately 22,000 in the entire company are encouraged to develop significant technologies that will add on to the company profile. These experts are equipped with business skills such that they are well aware of the financial implications of undertaking the various ideas they come up with. Providing these workers with some sense of autonomy in their departments encourages brainstorming and enhances creativity. The employees identify themselves as leaders in their own expertise with a goal of providing technologies that help solve issues in various industries and the world at large.
The organization is also continuously achieving business growth through performance assessment of employees. Honeywell wishes to always take note of the workers who are performing at global competitive standards. This practice of measuring the performance of the employees is an integral factor towards increasing morale in the work environment. Workers who are noted to have exceeded expectations are greatly rewarded through monetary bonuses and promotions among other incentives. Performance assessment measures are open and unbiased to ensure that all workers are judged equally. The numerous divisions of the conglomerate are all treated equal despite the fact that some take up a larger share of the company’s overall revenue. The equal consideration provided to each department is essential primarily in maintaining high levels of competitiveness among the workers. The employees will be more inclined to creatively develop systems and technologies that will lead to the development of products that increase sales in the company.
Employee focus
As in every successful company, employees are considered to be one of the most important stakeholders in the business operations. Despite experiencing financial setbacks during the 2008 crisis, it is identified that the workforce is the key to achieve growth in the industry. As a result, the organization looks towards retaining its top talented workers. The use of performance assessment measures is to identify workers who are crucial to the future of the organization. The firm closely monitors their experience in the workplace environment as a measure of ensuring their needs are met. Through provision of the annual and quarterly bonuses the workers’ satisfaction with the company significantly improves over time. The employees will demonstrate significant loyalty towards the firm and dedicate their future. This practice is also evident in its hiring practices where the company ensures that only highly competent and skilled candidates are employed. This measure guarantees success in that they will be involved in development of quality products as per the standards of the industry.
The development of the workforce is yet another important factor in demonstrating the importance of employees to the company. As of 2012, the Honeywell Aerospace created a one-of-a-kind training program recognized as the Honeywell Academy. This program is delivered online and provides a certificate of qualification upon its completion. The primary reason of making this internal investment is yielding competitive advantage and steering the personnel towards supporting the firm’s growth strategy. Honeywell is sending all of its 1,400 employees in the customer service department through this program as a measure of developing their skills. According to the leaders in the company, this program is used to equip all of the employees with similar skills and training as they improve their customer service segment. Employees identify this training as evidence of the company’s commitment to improve their skills that will be important in climbing the corporate ladder.
Organization model currently in place
Honeywell Conglomerate incorporates an organizational model that distinctly divides the diverse operations of the firm to prevent confusion of employees. In this case, it is divided into four major industries: the aerospace, home and building technologies, performance materials and technologies, and safety and productivity solutions. All these divisions of the company are aligned towards making significant innovative steps in the global market. The main goal over the five years between 2014 and 2018 is to focus on innovation, enhance the value established by customers, increase allocation of financial investments and an effort to achieve double digit growth in revenue. Through these clear goals, a workforce of more than 22,000 engineers and scientists enable the record of continued innovation in the different sectors. They are well equipped to develop technologies that can blend between physical and social sciences. One of the primary factors for growth is the state-of-the-art Software centre in Atlanta.
The Honeywell User Experience (HUE) is integral to the developments noted in the company. The process initiative is used in understanding the needs of the different stakeholders in the company including customers, channel partners, employees and installers. The process enables creation of intuitive, desirable, unique and value-adding technologies and services that will effectively meet these needs. The implemented process ensures effective competitive advantage over other companies in the different industries while ensuring continued growth in different parts of the world.
