Planning Function at Boeing

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The Planning Function at Boeing

The Planning Function at Boeing
The Boeing Corporation is second largest aerospace and defense contractor in the world and the largest exporter in the United States (Wikipedia, 2008). The management within this organization incorporates the four functions of management beginning with the planning function. Boeing is a large corporation that is well known all over the world that deals with many responsibilities. Legal, ethical, and social responsibilities are factors that have an impact on management planning. Boeing also deals with factors that influence the company’s strategic, tactical, operational, and contingency planning. The company has a proven record that management is able to deal with factors that may impact the business and plan accordingly. Legal Responsibility

Boeing is a large public company and deals with a vast amount of legal responsibilities such as laws that the company must comply with. The Sarbanes-Oxley Act of 2002 is a law that Boeing must comply with since it is considered a public company. The act was passed by congress to improve the confidence of investors by requiring companies to have more independent board directors to adhere to accounting rules, and to have senior managers personally sign off on financial results (Bateman, 2009). Adhering to this law as described will prove the integrity of Boeing when providing financial results. Management must take into consideration this law when conducting the planning function. Executives within the company are forced to strategically plan how to maintain compliance of this act. The Board of Directors and the legal department are held responsible. They have created an audit committee within the organization who are trained to conduct internal audits to ensure compliance. The audit committee maintains oversight of the integrity of the company’s financial statements; company’s compliance with legal and regulatory requirements; independent auditor’s...
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