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BAE Systems plc
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== Operations == === Company History<ref>https://www.britannica.com/topic/BAE-Systems</ref> === BAE Systems was formed in 1999, the result of a merger between British Aerospace PLC (BAe) and Marconi Electronic Systems, which was formerly part of General Electric Company PLC. The origin of British Aerospace PLC itself dates back to 1977, with the merger of British Aircraft Corporation, Hawker Siddeley Aviation and some other firms. Hawker Siddeley itself is yet again the result of mergers between several British aircraft companies in the 1950s and 60s, and was divided into Hawker Siddeley Aviation (aircraft production) and Hawker Siddeley Dynamics (missiles and rockets). In 1990, BAe sold its corporate jet division to Raytheon, and became a partner in the Eurofighter Typhoon programme. In 1999, BAe finally signed a deal with General Electric to merge with its electronics business, Marconi Electronic Systems, and this resulted in the formation of BAE Systems. === Mission Statement<ref>https://www.baesystems.com/en/our-company/our-purpose</ref> === BAE Systems articulates its mission as a commitment to "serve, supply and protect those who serve and protect us, in a corporate culture that is performance driven and values led" This mission statement serves as a guiding compass that shapes the company's financial strategies and operational decisions. At its core, the mission statement highlights two fundamental objectives: providing a competitive edge to customers and fostering innovation through trusted partnerships. In a financial context, the former objective translates into focusing on revenue streams derived from the delivery of cutting-edge solutions to customers. BAE Systems aims to generate substantial revenue by offering technologically advanced products and services that empower their clients with a competitive advantage. This revenue fuels financial growth and supports critical activities such as research and development, manufacturing, and customer support. The phrase "trusted partnerships and innovative solutions" underscores the significance of collaboration and forward-thinking approaches. In financial terms, this means that BAE Systems must strategically allocate resources to cultivate strong relationships with partners, suppliers, and customers. These partnerships not only provide stability in the supply chain but also facilitate the exchange of ideas and resources for innovative solutions. BAE Systems' mission statement significantly influences its financial strategies in several ways: 1. Research and Development Emphasis: A substantial portion of the company's budget is dedicated to research and development, aligning with the objective of delivering innovative solutions. This investment supports the creation of state-of-the-art technologies, enhancing the company's market position and potential for revenue growth. 2. Strategic Partnerships: The emphasis on trusted partnerships means that BAE Systems strategically allocates resources to build and maintain relationships that contribute to mutual growth and innovation. Collaborative ventures and joint ventures with partners can lead to shared costs and expanded market access. 3. Adaptive Resource Allocation: The commitment to innovation and customer value requires BAE Systems to be adaptive in resource allocation. This includes allocating resources to areas with the highest potential for creating competitive solutions and responding to evolving customer needs. 4. Risk Management through Innovation: BAE Systems' focus on innovation serves as a proactive approach to risk management. By continuously developing new solutions, the company can stay ahead of technological disruptions and shifts in customer demands. 5. Investor Confidence: The mission statement can influence investor relations by showcasing how financial strategies are aligned with the company's core values. Clear communication of how financial decisions support innovation and customer partnerships can attract investors who share BAE Systems' vision. In essence, BAE Systems' mission statement guides its financial strategies by emphasizing customer value, innovation, and partnerships. This commitment permeates resource allocation, risk management, and collaboration efforts, contributing to the company's ongoing financial strength and competitive position in the market. === Corporate Strategy<ref name=":1" /> === BAE Systems has a corporate strategy that builds on their vision and mission. It is comprised of six key long-term areas of focus that will help BAE achieve their vision and mission. It is centred on maintaining and growing their core franchises and securing growth opportunities through advancing their three strategic priorities. ==== 1. Sustain and grow their defence and security businesses ==== * Deliver on commitments effectively and efficiently * Develop offerings to meet the future defence and security needs ==== 2. Continue to grow their business in adjacent markets ==== * Take capabilities into adjacent attractive markets * Develop dual-use opportunities delivering civil solutions to leverage back to meet challenges for defence customers ==== 3. Develop and expand their international business ==== * Mature international activities, broadening offerings to established customers * Develop relations with additional customers ==== 4. Inspire and develop a diverse workforce to drive success ==== * Ensure diversified thinking and harness the full potential of people * Create an environment and proposition in which people will thrive ==== 5. Enhance financial performance and deliver sustainable growth in shareholder value ==== * Seek opportunities to drive efficiency, standardisation and synergies * Identify opportunities for higher-margin offerings ==== 6. Advance and integrate their sustainability agenda ==== * Emphasise the vital role played in protecting countries and civilians and supporting communities * Progress the delivery of their decarbonisation strategy ==== Priorities ==== Serving as a bridge between the long-term strategy and short term objectives, are the strategic priorities. These priorities have been successfully demonstrated by BAE Systems. * Drive operational excellence ** BAE Systems has been part of the F-35 programme since its inception, bringing our expertise into the development, advanced manufacture, electronic warfare systems and sustainment of the world’s largest defence programme. Led by the US, with participation from the UK, Italy, Netherlands, Australia, Canada, Denmark and Norway, this collaborative programme delivers a stealthy, multi-role combat aircraft capable of operating from land and sea to nations across the globe. As a key partner, BAE collaborates with the programme’s prime contractor, Lockheed Martin, to deliver around 15% of each aircraft (excluding propulsion), playing a major role in the development, production and sustainment of each jet. * Continuously improve competitiveness and efficiency ** To improve production efficiency and increase capacity, BAE has embarked on the process of constructing a new, modern ship lift/ land-level ship repair complex at our Jacksonville, Florida shipyard. Once it is fully operational, the complex will feature a ship lift that can easily move vessels in excess of 25,000 tons, and the new land-level repair complex will enable the team to work on three or more ships simultaneously parked ashore with access to their hulls. The $200m (£166m) investment will bring a 300% increase to the shipyard’s current dry-docking capacity and expand the shipyard’s customer diversity by bringing in more commercial work. * Advance and further leverage our technology ** BAE Systems is working with partners to design and deliver a new flying combat air demonstrator, which will play a critical role in the delivery of the UK’s Future Combat Air System. The flagship project is part of a suite of novel technologies being developed by Team Tempest, which will see BAE Systems engineers lead the design, test, evaluation and build process and bring together new digital engineering technologies. The first flight of the demonstrator is set to take place within the next five years.
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