My company is Lockheed Martin. They are in the manufacturing industry of aerospace and defense and were founded in 1995 in the United States of America. As stated on Lockheed Martin’s website, their reason for existing is to, “Help the future arrive. We solve the great problems of our times. We create the innovative technologies that define eras. While no one knows what's going to change the world next, we're probably already working on it.” This company is talented in many categories. For example, they are skillful in aerospace and defense, where they have capabilities is aircraft, directed energy, ground vehicles, missile defense, logistics and sustainment, and the list goes on. Also, they are gifted in areas, such as information technology, …show more content…
space, emerging technologies, and energy. According to SIC Code, the Standard Industrial Classification code is 3812, which establishes detection, navigation, guidance, aeronautical, and nautical systems and instruments. The SIC Code also stated that the North American Industry Classification Code is 334511, which is engaged in the same establishments as the SIC. Furthermore, Investopedia stated that Lockheed Martin’s major competitor include, Northrop Grumman Company, Boeing Company, BAE Systems Plc., Raytheon Co., and General Dynamics Corporation. The CSI Market explains that Lockheed Martin is in the Aeronautics segment of the stock market and their market share is at 29.02% Lockheed Martin has over 590 facilities in 50 states throughout the United States of America. They also have facilities in over 70 other nations and territories. They employ around 97,000 individuals. Lockheed Martin’s headquarters are located at 6801 Rockledge Drive, Bethesda, Maryland 20817 United States of America. According to Lockheed Martin, the CEO, Chairman, and President of Lockheed Martin Corporation is Marillyn A.
Hewson. She is a 62 year old female. They also stated that Ms. Hewson earned her Bachelor of Science degree in business administration and her Master of Arts degree in economics from the University of Alabama. She then went to Columbia Business School and Harvard Business School executive development programs. Salary.com, reported that she received a grand total of 19.4 million dollars in the year 2016. Where 1.634 million came from base pay, 8.159 million came from bonuses, 9.228 million came from stock awards, and 399,828 came from other. She joined Lockheed Martin over 30 years ago as an industrial engineer. As stated, She has held various operational leadership positions, many executive roles, served on numerous boards, and currently sits on the Board of Directors of DuPont; the Congressional Medal of Honor Foundation; the Board of Governors of the USO; the Board of the National Geographic Education Foundation; the Board of Visitors of the University of Alabama’s Culverhouse College of Commerce and Business Administration; and the Board of Directors of Catalyst. As you can see, Ms. Marillyn has accomplished a lot in her working career and seems to be very capable of holding her position as the CEO of Lockheed Martin. Also, in 2016, Fortune Magazine named her as number 3 in “50 Most Powerful Women in
Business.” Some of the latest news about this company is provided by Lockheed Martin and states “October 11, 2017 – LifePort, a Sikorsky company, announced today it has been granted an FAA Supplemental Type Certificate (STC) to equip the Airbus H130 aircraft with a lightweight medical interior. The system addresses current operator needs for a low-weight, functional system that can be reconfigured quickly.” Lockheed Martin has had many successes, some of which include resource efficiency, product performance innovations, and superior sustainability. One challenge Lockheed Martin faces, as stated by The Wall Street Journal, is that they are facing funding challenges for the F-35 Joint Striker Fighter Program. The innovation of technology has tremendously impacted Lockheed Martin. They are able to produce and manufacture much more efficiently and they have been able to make many new discoveries and advances. An interesting fact about Lockheed Martin is that they are very supportive of veterans and families in need. They make care packages, greet veterans upon arrival home, and donate money to the troops.
Ellen Kullman, shares a mixed background. Though born in Turkey and raised in Italy, her parents are both of Jewish Iranian descent. However she grew up there since the age of five as a permanent resident who never became Italian. She further traveled to the United States on a student visa, a work visa, obtained her green card, and finally became a U.S. citizen. She holds a bachelor of sciences degree in mechanical engineering from Tufts University and a master’s degree in management from Kellog/University. Here is how she reached the top: a Sales Rep at Westinghouse where she discovered her passion for business and a Management Trainee at General Electric. She joined DuPont as a Marketing Manager in 1988 where she quickly moved up the corporate ladder and ultimately became the first female CEO of the 210 year old organization in January 1, 2009. Away from work, she married and had three children. Ms. Kullman travels the world to promote face to face relationships with her enormous corporate team but believes her own family is the most important. She is the 19th executive to lead the company founded in 1802. Prior to becoming CEO, Ms. Kullman was president of the company from Oct. 1 through Dec. 31, 2008. In 2012, Ms. Kullman was ranked at number five in Fortune’s list of Most Powerful Women. Though DuPont is known for its dominance in chemicals, since becoming CEO Ms. Kullman has pushed the 210 year old company into unexpected new businesses (World of CEOs Dossiers, 2012).
The U.S. Military is a proud institution, on which we as a nation rely on, just as it relies on the funding and directing of the United States Congress. However, when compared to the rest of the world, the United States consistently outspends other countries on Military/Defense spending. So much so that the National Priorities Project (NPP) states that in 2013 “America spent 37% of the world’s total military spending.” They go on to say that in 2015 “military spending (was) projected to account for 54% of all federal discretionary spending” which equates to about 600 billion dollars in federal spending towards defense and military. While there are benefits of spending this much on Military, many argue that such spending gives America an element
Leaders today need to have an appreciation for the operation process, understand a situation, envision a desired future, and to lay out an approach that will achieve that future (Flynn & Schrankel, 2013). Plans need to be created that can be modified to changes in any factors considered. However, plans should not be dependent on specific information being precise or that require things to go exactly according to schedule. Instead, the staff NCO should be flexible where they can and always be prepared for the unexpected. Today’s military members are fighting an unconventional war in Iraq and Afghanistan. The enemy constantly changes their tactics, techniques, and procedures (TTP’s) to counter the United States technological advances, making planning very difficult for leaders. There are multiple tools at a staff NCO’s disposal to try to anticipate an outcome of a current operation, but also assist with the development of concepts in follow-on missions. The Military Decision Making Process (MDMP) is just one tool a staff NCO can utilize. In order to stay ahead of the enemy, create effective plans and orders, it is critical for a staff NCO to assist the commander, and understand that the MDMP and planning are essential in defeating the enemy and conserving the fighting force.
Lockheed Martin is a diversified technology company serving the needs of United States government, military and selected international customers.
In the future our firm could offer, the facility to make computers to consumers tastes, needs and budget. This is what the Gate Way Computer Company, which was very successful.
For instance, Harley Davidson may be forced to change their marketing strategy due to the entrance of a new competitor into the market. Second, Harley Davidson has to learn new skills and technologies quickly. For example, technologies are changing rapidly, so it is crucial for Harley Davidson’s business plan to change or alter in order to keep up with innovation. Third, this organization has to effectively leverage its core competencies while competing with its competitors. This is, Flexibility is required for Harley Davidson to learn how to use primary value-chain activities and support functions in the way that allow the organization to produce their products at a lower cost with differentiated features compare to their competitors in the market
Tractors: From Then to Now “The farm implement industry has profoundly shaped both American agriculture and the national economy. Of all farm implements, the tractor has had the greatest impact on rural life” (Robert C. Williams, qtd. in Olmstead). To understand the history of the John Deere company, one must know its origin, development, and its impact on the farming community.
Lockheed Martin business environment takes pride in innovation, inclusion, leadership and ethics. The company has a Full Spectrum Leadership model which has been apart of the organization’s culture since 2006. The five characteristics/imperatives of the Full Spectrum Leadership are Deliver Results, Shape the Future, Build Effective Relationships, Energize the Team and Model Personal excellence, Integrity and Accountability. These five characteristics/imperatives all have individual meanings. For example, energizing the team means that leaders should always have a positive, engaging work environment where all employees can excel. I believe these five imperatives show that the interaction that leaders have with not only other employees but with
of a firm to attain new forms of competitive advantage (Müller, 2011). It is due to these
In 1986, Cummins, Inc. took acquisition of Onan Corporation which was owned by Cooper Industries. David W. founded Onan in Minneapolis in 1920. Onan was one of the leading suppliers of generators sets to the United States military during World War II. Furthermore Cummins Inc. acquired Nelson Industries Inc. for $450 million in cash and debt of $38 million. Nelson was a leading company which produced exhaust, air filtration and emission systems.
What is the future of the military? Many people would argue that drones are the future. Drones have a long history of development tracing back to the America’s Civil War. A large issue that drones had during this time was that they were highly ineffective, this continued until the war in Afghanistan ware started. During the Afghanistan war, the production of the Predator Drone was commissioned. This has been the military’s most successful military asset because of its many different application that the Predator drone has. This has lead to many companies to fund the Drone Program. With the funding for the drone program being available, many innovations have occurred in a short amount of time compared to previous year. This has allowed for the concept of “unmanned and uncontrolled”. Drones have a long history, which dates as far back to the Civil War and continues to the present day with the Predator Drone. However, with all of this success what does the future of drones have in store?
The drones are coming, in fact, they are already here. Technology is causing the world to become smaller with the rapid advancement of drones as they integrate from military operations to the civilian landscape. These changes include the use of drones in commercial industries as well as by law enforcement agencies as a surveillance and pursuit tool. This necessitates that drones be scrutinized for their legality and limitations of use.
First, companies identify interrelationships among already existing business units in order to seek for any opportunities to transfer skills or share activities. Second, companies select the core businesses that will be the foundation of the corporate strategy by determining the attractive industry and sustainable competitive advantages. Third, companies create horizontal organizational mechanisms to facilitate interrelationships among the core business units by strong corporate identity, mission statement emphasizes integration, and incentives for business-wide success. Fourth, companies pursue diversification opportunities that allow shared activities. Fifth, companies pursue diversification through the transfer of skills if opportunities for sharing activities are limited or exhausted. In other word, it is the stepping stone for sharing activities in the future. Sixth, companies pursue a strategy of restructuring if this fits the skills of management or no good opportunities exist for forging corporate interrelationships. At last, companies pay dividends so the shareholders can be the portfolio
What is strategic management? In this study we will view what a manager’s role is and the development of strategic management has an affect on their companies performance. We will examine strategic management, what the benefits and problems are when utilizing strategic management, and how to implement strategic management in the company.
Managers should take note of the value in inquiry, development, and forecasting future technological innovations in order to keep ahead of their competition.