Joseph Schumpeter Essay examples

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H: Hello and welcome to BBC World live at 10. I’m Tommy Brown,

T: And I’m Tim Mike

H: Todays headlines are (Pause) “Japanese tunnel collapses trapping family of five”, “Manchester United held to thrilling draw by Chelsea” and “British Airways Flight makes unscheduled landing.” – How unusual, don’t you think?

T: Indeed it is!

H: Speaking of the aircraft industry, Reporter Jay Lee is standing live with Sir Henry Royce and Charles Rolls in front of the Rolls-Royce Aerospace Factory in London. – Jay.

J: Thank you Hayley, Sir Henry Royce and Charles Rolls have built a multibillion-dollar company that provides engines for both the civil and defence aerospace market, as well as engines for the marine and energy industries around the world.

J: Thank you both for being with here today.

J: Sir Royce, tell us about the history of your business and how it came to be…

D: Well it all began in 1914 before the First World War, when there was a high demand for military aviation; Charles and I developed our very first aero engine, that subsequently went on to record the first ever transatlantic flight, which was a great success for us and is today listed on the London stock exchange.

Z: Today the airplane is not only considered as the safest mode of transport, but its technological advancement is unmatched. With the development of the gas turbine engine, there are now 56,000 engines currently in service and Rolls-Royce has seen a significant increase in demand over the years.

J: Yes, but what makes Rolls-Royce unique from all other competitors?

Z: Well firstly, we pride ourselves in producing the best products for our international clients and by having a diversified geographic base, we are able to reduce the risk factor as the company does not depend on a single market.

D: Not to forget, part of our business model is structured on the aftercare service, which is an integral part of our company allowing Rolls-Royce to keep a competitive advantage above other competitors.

J: Would you like to comment on the mergence of General Electrics and Aviation Industry Corporation of China who are working on joint ventures?

D: Well I wont go into details, but in short, their mergence has opened up the aerospace market attracting global customers. Nevertheless Rolls-Royce has still been flourishing thanks to its excellent reputation and historical background.

Z: Although we have an exceptional relationship with the government and also have a role in the environmental aid, there are however a few rules and regulations that we must comply with and sadly cant escape from. (ha ha)

J: – Ha ha (background)

J: Well, referring back to the environmental issues, would you consider Rolls-Royce as a social responsible corporation?

Z: Yes I would certainly say so. Rolls-Royce has taken the
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