Company Comparison: Raytheon (Rtn) and Textron (Txt)
Raytheon (RTN)
And
Textron (TXT)
Raytheon (RTN)
Mission statement: “Aspiring to be the most admired defense and aerospace systems supplier through world-class people and technology”. (Raytheon.com)
Background and History Raytheon was founded in Cambridge, Massachusetts in 1922, as the American Appliance Company, by Laurence K. Marshall, Vannevar Bush, and Charles G. Smith. Marshall and Bush were engineering students, while Smith was an inventor and scientist, but they were all entrepreneurs. After failures to market an idea for a new refrigerator the trio began to focus on electronics. (Raytheon, Wikipedia.com) An idea that Smith and Bush had worked on years earlier, “a new kind of gaseous tube that would allow radios for the first time to be plugged into a wall socket and operate on electricity rather than batteries”, would be their new direction. (Raytheon Company, fundinginguniverse.com) After acquiring a patent for the idea and because an Indian company already had rights to the name American Appliance Company, Raytheon Manufacturing Company was born. (Raytheon Company, fundinginguniverse.com) The consumer demand for electronics was booming and the new radio-receiver power supply (gaseous rectifier), which immediately allow radios to be in every household for pennies of what it cost to continuously replace batteries. (History, Raytheon.com) As the competition for radio-receiving tubes began to intensify Raytheon, mainly Laurence K, Marshall, saw the need to diversify. (Raytheon Company, fundinginguniverse.com) Raytheon’s philosophy soon became to acquire companies that could take Raytheon to new heights in the competitive electronics market and to reinvest profits back into the company for research and to development and improve products. They acquired Acme-Delta Company in1933 a producer of transformers, power equipment, and electronic auto parts and Raytheon soon became “the world 's largest vacuum tube manufacturing
And
Textron (TXT)
Raytheon (RTN)
Mission statement: “Aspiring to be the most admired defense and aerospace systems supplier through world-class people and technology”. (Raytheon.com)
Background and History Raytheon was founded in Cambridge, Massachusetts in 1922, as the American Appliance Company, by Laurence K. Marshall, Vannevar Bush, and Charles G. Smith. Marshall and Bush were engineering students, while Smith was an inventor and scientist, but they were all entrepreneurs. After failures to market an idea for a new refrigerator the trio began to focus on electronics. (Raytheon, Wikipedia.com) An idea that Smith and Bush had worked on years earlier, “a new kind of gaseous tube that would allow radios for the first time to be plugged into a wall socket and operate on electricity rather than batteries”, would be their new direction. (Raytheon Company, fundinginguniverse.com) After acquiring a patent for the idea and because an Indian company already had rights to the name American Appliance Company, Raytheon Manufacturing Company was born. (Raytheon Company, fundinginguniverse.com) The consumer demand for electronics was booming and the new radio-receiver power supply (gaseous rectifier), which immediately allow radios to be in every household for pennies of what it cost to continuously replace batteries. (History, Raytheon.com) As the competition for radio-receiving tubes began to intensify Raytheon, mainly Laurence K, Marshall, saw the need to diversify. (Raytheon Company, fundinginguniverse.com) Raytheon’s philosophy soon became to acquire companies that could take Raytheon to new heights in the competitive electronics market and to reinvest profits back into the company for research and to development and improve products. They acquired Acme-Delta Company in1933 a producer of transformers, power equipment, and electronic auto parts and Raytheon soon became “the world 's largest vacuum tube manufacturing
Cited: “Company History”.www.textron.com. 2010. Web. 05 November 2010. . “History”.www.raytheon.com. 2010. Web. 30 October 2010. < http://www.raytheon.com/ourcompany/history/index.html >. “Leadership”. www.raytheon.com. 2010. Web. 30 October 2010. . Wikinvest.com. 2010. Web. 02 November 2010. .