Founder Mark C. Honeywell
Headquarters Morris Plains, New Jersey, United States
Founded 1906, Wabash, Indiana
Honeywell is a USA based manufacturer of consumer products, aerospace, and engineering services. The Honeywell Aerospace services and products are offered for almost every aircraft type. Honeywell has various brands that the retail and commercial consumers are able to recognize which includes Garrett turbochargers and a line of home thermostats. Additionally, Honeywell also produces home consumer products like sensors, security alarms, thermostats, air cleaners and dehumidifiers. Further the company licenses its brand name for the use of various retail products that are manufactured by their partners like heaters, air conditioners, fans, security safes, paper shredders, fans, home generators. The unique offering by Honeywell Aerospace for aviation and aerospace needs are mentioned below:
2.) Air and Thermal Management
3.) Auxiliary Power Units
5.) Cabin Management and Entertainment
6.) Cockpit Systems and Displays
7.) Cryogenic Cooling Solutions
8.) Electric Power
10.) Health and Usage Monitoring
13.) Navigation and Radios
14.) Recorders and Transmitters
15.) Satellite Communications
17.) Terrain and traffic awareness
18.) Vehicle turbochargers
19.) Weather Radars
20.) Wheel and braking systems
The mission of the organization is the creation of values of shareholders by using control technology which saves energy, improves productivity, protects the environment, promotes peace and increases safety and comfort. Whereas the company has a vision of continuously improving the way they do things so as to capture greater value for the company as well as the customers.
The company operates at about 1,250 sites in around 70 countries and in 2015, it was estimated that around 53% of the company's sales were generated outside the United States of America. Honeywell has branch offices all over the world on the basis of its operational level and is operative in countries like China, Malaysia, Germany, the USA, Italy, Japan, India, Mexico, etc. With high success in the USA market in the initial years of its establishment, the company expanded its business further to the emerging markets and chose important bases. The following are the main branches of Honeywell by their operational business units. (China Honeywell,2016,)
Based on my knowledge, PESTLE Analysis of Honeywell is as follows:
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The considerations of boycotting the company in Israel have going on. In China, the company is gaining high revenue due to large size and skilled talent. This region is stable and therefore highly appropriate for the expansion plans. The country furthermore has no regulation regarding the validation of electronic contracts, recognition of digital signatures, etc.
The company has seen various changes in the last two decades. The company is following all the rules and regulations for the development of its business, and the company has also been experiencing some detrimental changes. The legal framework helps to play a vital role in the overall expansion of the business. The company, therefore, needs to follow all the regulations for complying with the legal principles for being stable in China.
After going through the operation of the company in detail, the suggested expansion plans for the company can be as follows:
1.) Make sure that their products are meeting the local standards;
2.) The product offering can be widened;
3.) Make sure that the products are safe otherwise; the company would have to stop manufacturing them as it did to their mercury switches;
4.) Eco-friendly measures must be adopted;
5.) Reduce the prices with high quality
6.) The approach must be customer-oriented along with being eco-friendly in nature.
7.) Manufacture of the maiming weapons like cluster bomb must only do on the insistence of the government bodies and should not be in reach of the local people.
8.) Work towards renewable energy sources.
When this foundation of the ethical behavior is built, it helps in the construction of the highly effective solution for the company which helps it to retain its best talents with lower turnover rates. This, in turn, increases the reputation of the company in the market, and the individuals are attracted to working in the organization. This helps the company to gain the best talents with a cordial bond between all the workers working in the institution ultimately providing stability to the organization. (Moon, 2001)
It is observed that the when a company fulfills all the needs of its employees like appropriate pay, holidays with various benefits to its employees that working abilities of the employees are increased and lead to low turnover rate as the employees do not look for better opportunities, and he does not try to work unethically and in turn helps to contributes towards the success of the organization. Therefore, one should always try to
1.) Pay their employees suitably according to his capabilities and responsibilities
2.) The full opportunity for the employees to upgrade while working for the organization
3.) Provide various other benefits for the employees.
4.) Ascertain that all the workers are fully aware of their roles and responsibilities to the company and they should strive together for achieving similar goals and objectives for the overall betterment and success of the company.
Dimensions - Geert Hofstede. (2016). Geert-hofstede.com. Retrieved 31 May 2016, from https://geert-hofstede.com/national-culture.html
Honeywell and Energy Efficiency: Strategy Before Solutions. (2009) (1st ed.). Retrieved from https://www.honeywellprocess.com/library/marketing/whitepapers/ARC_HoneywellEnergy_WhitePaper.pdf
Honeywell components used to bomb Gaza last Summer | Corporate Watch. (2015). Corporatewatch.org. Retrieved 31 May 2016, from https://corporatewatch.org/news/2015/jan/22/honeywell-components-used-bomb-gaza-last-summer
Honeywell. (2016). Honeywell. Retrieved 30 May 2016, from http://www.honeywell.com/
Moon, C. (2001). Business ethics. London: Economist.
The Future for MNCs in China. (2012) (1st ed., p. 20). China. Retrieved from https://www.kpmg.com/ru/en/services/nationaldesk/china-practice/documents/future-for-mnc-in-china.pdf
Vogel, D. (1991). The Ethical Roots of Business Ethics. Business Ethics Quarterly, 1(1), 101. http://dx.doi.org/10.2307/3857595