Corporate Social Responsibility: Lockheed Martin

Social Responsibility Corporate social responsibility is a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social wellbeing (Investopedia, 2016). Some people think of this term as an oxymoron, which is a figure of speech in which two opposite ideas are joined to create an effect, but others see the term corporate social responsibility as a distraction. A corporation's sole responsibility is to generate returns for its shareholders, not to try to save the world or to fret over its own impact (Investopedia, 2016). The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups. CSR may also be referred to as "corporate citizenship"

20 Social responsibility entails developing businesses with a positive relationship to the society, which they operate in. According to the International Organization for Standardization (ISO), this relationship to the society and environment in which they operate is "a critical factor in their ability to continue to operate effectively. 2 It is also increasingly being used as a measure of their overall performance."

Lockheed Martin As an industry leader in global security and information technology, Lockheed Martin provides products and services that address some of the nation’s most critical issues (Lockheed, 2016). As a responsible corporate citizen, the company also plays an active role in helping to strengthen the quality of life in their country and the communities where they live and work. The company

Their high standards for ethics, corporate governance and performance excellence distinguish their contributions to global security when it matters most (Lockheed Martin Corporation, 2016). 21 The company defines sustainability as fostering innovation, integrity and security to protect the environment, strengthen communities and propel responsible growth. Their commitment to sustainability influences their operations and informs their decision-making at every stage of their business lifecycle. In 2014, the company remained disciplined with their sustainability efforts in six high-impact areas: Governance, Information Security, Supplier Sustainability, Product Performance, Resource Efficiency, and Talent Competitiveness. They determined how current environmental, social and governance concerns would affect and shape their strategic plans. The company implemented their Lockheed Martin Sustainability Management Plan, which allowed their leadership to focus on their comprehensive set of commitments. These efforts helped the company earn distinction as a new addition to the Dow Jones Sustainability World Index and, for the fourth consecutive year, a position on the CDP S&P 500 Climate Disclosure Leadership and Clean Performance Leadership Indices (Lockheed Martin Corporation, 2016). This recognition helps confirm that the company’s business strategy,