Bombardier Inc. is a multinational transportation aerospace company that is headquartered in Montreal, Quebec, Canada. It manufactures business jets, regional airlines, and transportation equipment. It enjoys the leading position in the aerospace and transportation industry, and it also provides financial services. There are crucial key factors and strategies that enable it to become the largest contributor to the overall profitability of the industry.
Growth Strategies of Bombardier
The growth strategies refer to the actions and decisions taken by the company to achieve its specific goals (Swaim, 2011). Bombardier Inc. applies effective strategies that result in enhancing its position in the local and international markets.
Investments in Leading Mobility Solutions
Bombardier Inc. invests in developing leading mobility solutions. The company believes in satisfying the needs of customers to perform in a highly competitive environment. To gain a competitive advantage, Bombardier Inc. movds towards improving the services provided to its international customers. The improved performance allowed it to continue competitive differentiation (Bombardier, 2016).
Move towards Key Markets
Bombardier Inc. does not believe in focusing on its existing markets for its products and services. It conducts researches and intends to move towards new international markets. It makes persistent efforts to grow its business in the emerging markets such as Asian countries that have high competitive forces. Also, the company believes in global expansion and sets directions to capture diverse markets (Bombardier, 2016).
Flawless Execution
Bombardier Inc. always focuses on the planning and execution of new projects. Although it faces challenges of bad economic conditions, it has the potential to resolve the issues that come in way of completion of its new projects. Bombardier Inc. believes that there should be a right system that ensures benefits for all key stakeholders of the business.
Key Factors for the Success
The success of an organization also depends upon some key factors such as availability of potential resources. Bombardier Inc. has also realized that these key factors are also crucial in its growth. These key factors are discussed below.
Human resources
There are high career growth and training opportunities for all in Canada. They result in talented and qualified individuals who are efficient in creating innovative ideas. Bombardier Inc. has also efficient employees who have different skills and capabilities to face the challenges and to provide the expected outcomes (Swaim, 2011). The company also believes that its employees are major stakeholders of the business and contribute substantially to the overall financial and non-financial operations of the company.
Low Fuel Prices
The availability of natural resources is another important factor for the success of business operating in that country. The fuel prices are low that allows Bombardier Inc. to increase its profits through cost-effective strategies. Also, it offers high-quality products and services at competitive prices as compared to other companies. It also allows the company to achieve a competitive advantage in tough markets (Bombardier, 2016).
Demand factor
The increasing demand for airline and private jets is another major reason for the growth of Bombardier Inc. and its ability to sustain its market position. The increase in demand of these products allows the company to increase its sales, and based on its reputation it is able to offers its products and services in new markets. The profitability of the company mainly depends upon its revenues and Bombardier Inc. is rapidly increasing its revenues through product diversification and expansion strategies to enter new emerging markets in Asia (Bombardier, 2016).
Works Cited
Bombardier. Our Growth Strategy. 2016. Web. 2016 18-March. <http://www.bombardier.com/en/about-us/strategy.html>.
Swaim, Robert W. The Strategic Drucker: Growth Strategies and Marketing Insights from the Works of Peter Drucker. Hoboken: John Wiley & Sons, 2011. Print.
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