Pros
Honeywell is diverse and is growing mostly through acquisitions. Four large divisions Aerospace (Phoenix) ACS (Automation Control - Minnepolis, Phoenix) PM- Performance Materials, and TS -Transportation systems. If you are savvy in M&A then begin your career in the ACS division - the largest and best acquisitions have come from this diverse conglomerate. However if you have more of an operations background, each business is maturing the lean journey with HOS (Honeywell's operating system). Over 25 standard specifications on lean management enterprise wide. The key is to be close to value stream, where value add is managed on multiple metrics (sometimes conflicting metrics - like inventory and delivery) here you will have to navigate which matrixed manager has more authority. As a PRO if you can align with a business case, deliver on commitments and be politically asute, you can advance.
Cons
The matrixed management approach also has some downsides. If projects are not aligned or there is quickly changing priorities you can find yourself underperforming on Honeywell's 9-block rating scale. This is similar to GE's bottom ten percent will be fired design. Add to this far too many levels beyond the value stream and those matrixed managers, director and VPs begin to have ambiguous titles and continued conflicting and siloed goals. Next add a few narrsasistic eager new directors and you have the recipe for far too much politics and favoritism. So if you can stick close to a value stream and improve it. More power to you, but be weary of breaking into the management ranks unless you strive for that political maneuvering.