Raytheon's Business-Specific Competence

Business-specific competences This is the most basic competence that the A&D companies must have in order to compete in this high-regulated, concentrated industry. These are the things that Raytheon have skills or do very well. Some examples of Raytheon’s business-specific competences are advanced technological systems and solutions and highly-skilled employees in fast growing or highly technical areas, such as cybersecurity, radar, missiles, etc. These core capabilities are the foundation of Raytheon’s growth strategy enabling the company to expand and grow beyond its existing customer space. For example, Raytheon can leverage its current contract for the U.S. Navy for cyberspace science, research, engineering, and technology integration

10). The most popular initiative used as a growth strategy is acquisition. Some of the most recent acquisitions made by Raytheon are Blackbird Technologies in November 2014, Visual Analytics, Inc. in June 2013, and Government Solutions Business of SafeNet, Inc. in December 2012 (“Raytheon Co.’s Acquisitions & Divestitures”, 2017). The acquisitions allow Raytheon to complement its existing products and services or customer base, as well as introduce its offerings into new areas and extend its core capabilities (“Raytheon’s 10-K”,

14). For Raytheon, near-term growth from the existing capabilities and resources is an important foundation for medium-term transformation and long-term strategic direction of the company. Staircases 1 thru 4 could be implemented for near-term results. For example, as mentioned above that past performance is one of the key evaluation criteria for most government contracts. If the company cannot successfully deliver and sustain its current programs, it will be difficult to compete and win new contracts. For this horizon, managers and employees, who work on the contracts play an important role to foster close customer relationships, deliver all requirements in the manner specified in the contracts, and continually implement and transform day-to-day tasks with innovation, efficiency, and effectiveness. Pratt (2009) suggested that to identify new, immediate term opportunities, managers cannot procrastinate and have to act fast. Particularly in a fast changing world due to the technology and the internet, the decision has to be quickly so that new opportunities can be uncovered and