Swot Analysis Of Textron

Textron Corporation is a company with great market-focused ambitions from manned and unmanned aerial systems to specialized industrial grade turf care equipment. This diverse organizational structure, and overall quality and performance of their products has set them above their peers. Also, the name Textron is synonymous with cutting edge products, and stalwart reputation makes them one of the leading, multi-industry companies in the world. In 2004, Textron changed their strategic planning process in an effort to increase efficiency, quality and pace. The process was revamped, and came to fruition due to the forward thinking of CEO Lewis Campbell. The results of this process highlighted two key elements that has set Textron apart from their competitors. The first was to focus on operating-unit strategy reviews at multiple times throughout the year, instead

History In 1923, Textron started as a Textron a small New England business that has evolved into a $13.8 billion company. Founded by an American businessman and investor Royal Little as a textile firm with the name Special Yarns Corporation. In 1935, the name was changed to Atlantic Rayon Corporation and the business only had minimal success until the early stages of World War II. With the outbreak of war, the demand for textiles rose significantly to support the war effort. By the midpoint of the war, the government contracts for textiles declined forcing Little to change his market strategy. In an effort to increase profits, Little began to integrate the company vertically to gain control of all facets of the textile business, from processing of raw materials to the distribution of the finished products. In 1935, the company’s name was changed to Atlantic Rayon Corporation and then again in 1945 to the now-known Textron Incorporation (Encyclopedia Britannica, 2017). As the Postwar demand for textiles diminished, Little convinced the board of directors to diversify into the unrelated businesses