Rolls Royce Plcs Principal Products - Essay Example

?Rolls Royce Plc Table of Contents Table of Contents 2 Rolls Royce PLC’s Principal Products/Services 3 Main Competitors 3 Reasons for Preference of Rolls-Royce PLC’s Products by Customers 4 4 Opportunities and Threats 4 Strategy Improvement 5 References 7 Rolls Royce PLC’s Principal Products/Services Rolls Royce PLC is an international business provider of ‘integrated power system’ with its headquarters in Westminster, in the United Kingdom. It is the world’s second core manufacturer of aircraft engines along with having chief businesses in ‘marine propulsion equipments’ and in energy segment as well. The company prepares the most advanced technologies in the power systems which are utilised in land, air and water. Rolls Royce PLC provides varied categories of products such as civil aerospace products, defence aerospace products, marine products, energy products and nuclear products. It develops and markets commercial aero engines for large and small aircrafts, helicopters and combat jets. It also manufactures transporters, propulsors, reduction gears, gas engines, fuel cells and steam generator services among others. Along with the various products, Rolls Royce PLC also offers variety of support services such as TotalCare, CorporateCare, MissionCare, technical support services and ‘Marine Tailored Solutions’ as well as reactor support services among others to its customers (Rolls-Royce Plc, 2012). Main Competitors Rolls Royce PLC is one of the world’s top manufacturers of high power gas turbine engines which gained its prominence in the global cutthroat market due to its use of extremely advanced technologies. One of the main competitors of Rolls Royce PLC is GE Aviation. Other than GE Aviation, Aviation Industry Corporation of China, Siemens AG, Siemens Westinghouse Power Corporation, General Electric Power Systems among others are also close competitors of Rolls Royce PLC. Consequently, there is always an underlying risk of entry of new threats in the market of Rolls Royce. Thus, it can be stated that, it is highly challenging to sustain in the global competitive market scenario in which Rolls Royce operates (Rolls-Royce Plc, 2012). Reasons for Preference of Rolls-Royce PLC’s Products by Customers The Rolls Royce Group is a comprehensive product and service providing organisation with customers in 135 countries and manufacturing facilities in over 14 countries. In this competitive scenario, the needs and wants of the customers are the primary criteria which are considered by organisation in any field. Rolls-Royce PLC satisfies the needs of the customers by delivering cost-effective products and efficient global support services, and so it is highly preferred among others. The customers from the world's important airlines and jet operators mainly rely on the Rolls Royce among others due to its efficient support as well as understanding towards the requirements of the prospective partners and suppliers. The service strategy of TotalCare and updated technologies are the key factors which differentiates Rolls Royce from other competitors (Rolls-Royce Plc, 2012). Opportunities and Threats The Rolls Royce PLC is one of the leading international makers and suppliers of aircraft engines. It became successful due to its advanced technologies and competent customer services. But both globalisation and competitiveness of the market, act as opportunities as well as threats for Rolls Royce PLC. In order to sustain in this global market, Rolls-Royce PLC should develop new products, new international markets, and innovative technologies and also try to diversify to different product lines among others so as to enhance its business growth, prosperity and customer loyalty. This may act as the opportunities in the next three years which can improve Rolls Royce PLC’s corporate image and profitability among competitors. Moreover, the threats which might hinder the growth of the organisation may be the entrance of potential competitors, economic recession, new developing rules and regulations related to business transactions, environmental impact on the commercial aviation industry and corporate social responsibilities. Thus, it can be stated that Rolls Royce PLC should always try to offer effective customer services and updated technologies in order to sustain in this competitive scenario and to maintain brand loyalty among the customers. It would be highly beneficial for Rolls Royce PLC to retain its brand image among the customers (Rolls-Royce Group Plc, 2012; Research and Markets, 2012). Strategy Improvement In order to maintain its global brand image and sustainability, it is essential for Rolls Royce PLC to innovate new strategies such as new technologies and products lines. Along with innovative technology, quality of the machines should also be improved in order to satisfy customers’ needs and demands. Moreover, it should also provide high emphasis on the infrastructural facilities in order to improve its growth and profitability. Apart from this, extremely proficient customer service should be provided by Rolls Royce PLC as it can act as valued added advantage to retain the highest market share among others. As employees are the key fundamental factors responsible for growth of the organisation, so proper training should also be offered by Rolls Royce PLC in order to offer the best services to the customers. Roll Royce PLC should try to merge with other organisations within the international markets to expand its product lines and global image as well. Along with this, Rolls Royce PLC should highly emphasise on corporate social responsibilities, thereby developing innovative low emission equipments and renewable power products. Thus, Rolls Royce PLC should engage best people, best technology and should offer quality services towards the customers. These strategies would facilitate the organisation to improve its productivity and corporate image among aspects. It would also enhance the relationship with the customers as well as its overall image (Rolls-Royce Plc, 2012). Conclusively, it can be highlighted that, Rolls Royce PLC can strive to introduce new technologies such as superior machining, welding and coatings techniques and can also develop innovative products in order to enhance its growth, output and support services which can fulfil the changing needs and demands of the customers. This can lead to operational excellence by reducing operational cost and enhancing the sustainability and expansion. This can also increase the opportunities and strengths of the organisation and reduce the weakness and threats in the near future. It would be highly beneficial for Rolls Royce PLC in global perspectives. From my perspective, it can be stated that, I would like to put forward my candidature to become a part of the future ventures of Rolls Royce PLC and try to enhance the growth of the organisation by making use of my knowledge, skills and expertise which would in turn be a contributing factor towards the development of the organisation. I would also try to provide my advices and suggestions in front of the management board regarding the augmentation and progress of Rolls Royce PLC in order to sustain in the international and competitive market scenario in the long run. References Research and Markets, 2011. Rolls Royce Group Plc - Strategic Snapshot & SWOT Analysis - Q4 2011. Description. [Online] Available at: http://www.researchandmarkets.com/reports/1933237/rolls_royce_group_plc_strategic_snapshot_and.pdf [Accessed January 10, 2012]. Rolls-Royce Plc, 2012. Rolls-Royce. Civil Aerospace Products. [Online] Available at: http://www.rolls-royce.com/nuclear/services/ [Accessed January 10, 2012]. Rolls-Royce Plc, 2012. Competing Within a Changing World. Competitive Rivalry. [Online] Available at: http://www.rolls-royce.com/images/competition_tcm92-11184.pdf [Accessed January 10, 2012]. Rolls-Royce Group Plc, 2011. Rolls-Royce Group Plc Annual Report 2010. Strategy. [Online] Available at: http://www.rolls-royce.com/reports/2010/businessreview/our-consistent-strategy.shtml [Accessed January 10, 2012]. Rolls-Royce Plc, 2012. Rolls-Royce. Technology & Innovation Introduction. [Online] Available at: http://www.rolls-royce.com/technology_innovation/introduction/ [Accessed January 10, 2012]. 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