Essay about Lockheed Martin Case Study

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Lockheed Martin History Lockheed Martin Corporation was founded when in March of 1995 two of the world’s largest technology and defense contractors unite. This being called the “merger of equals”, become the largest aerospace, defense and technology companies. Lockheed Martin is responsible for many of today’s well-known accomplishments. This included the SR-71 Blackbird, the F-117 nighthawk and the Manned Maneuvering Unit (MMU). Today, Lockheed Martin continues to be one of the largest government defense contractors. (Corporation, Lockheed Martin, 2010)
Mission Statement

“Powered by Innovation, Guided by Integrity, We Help Our Customers Achieve Their Most Challenging Goals”, is the companies vision statement. (Corporation, …show more content…
Programs such as the F-22 Raptor and the VH-71 Presidential Helicopter have been canceled of reduced to a minimum quantity.(Miles, 2009)

Another threat to the business is the constant eye on the company’s faults. In recent years almost all divisions of Lockheed Martin’s business has had some sort of failure. These failures tend to cost billions of dollars. This puts smiles on Lockheed Martin’s competitor’s faces. Seeing this, Lockheed has been particularly careful in future business ventures that could ultimately cost the company opportunities for revenue.(Butler, 2007)

As the company enters a new era it is faced with many hard decisions. Given the new economic standings of the world. Lockheed Martin has tried to find ways to reduce costs. They found that if they removed their pension plan to employees, could lead to massive cost reductions. This presents a large problem to employees that work for the company. With most of these employees being highly skilled and intelligent people. Means that Lockheed could eventually loose those employees to other companies much faster and sooner than expected. This becomes a huge threat to their proprietary technologies and new ideas.(Merle, 2005)
Strategies

As we have seen, this company has many business-level strategies in place in order to be successful. As we can see Lockheed Martin has developed a focused strategy, on that only deals with defense and military type of contracts. Another strategy
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