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, Lockheed Martin, 2010) Organizational Strengths
As part of this SWOT analysis, we begin by highlighting some of Lockheed Martin’s strengths and weaknesses. We begin with the first strength, the company’s solid reputation. Over the years Lockheed Martin has demonstrated the ability to maintain a certain level of technology that has amazed and protected many of these countries military forces.(Corporation, Lockheed Martin, 2010) This has led to a solid reputation for which Lockheed Martin is known. Providing a quality product when it’s necessary. This strength can be classified as a distinctive given the type and level of product produced.
Second, Lockheed Martin has the ability to be an international business. In the past most defense and aerospace companies have been limited to the American business units. This is all currently changing, by establishing other business opportunities with other US allies. This includes, a complete free operating UK operations and many other oversees support. This strength though not distinctive to other companies has deemed very strong over competing companies as BAE Systems and Boeing Corporation.
Third, the technology, Lockheed Martin has been the leader of its time. Some of the projects such as early stealth project F-117 Nighthawk were the first of its kind for that era. With the help of a small and elite divisions, one specifically Skunk Works, is the reason why Lockheed Martin has remained a leader in the technological field. This is distinctive to the company.(Lockheed Martin Corporation, 2010) Organizational Weaknesses
Like any other company there are some things that hold it back. First we must begin by highlighting one of the weaknesses Lockheed Martin faces today. In the past Lockheed Martin has remained solely a defense contractor. This could be a weakness when compared to high caliber rival, Boeing. (Karp, 2006) As a company Lockheed should consider other outside commercial business or at least law enforcement.
Second, in the recent news Lockheed Martin has been faced with some issues regarding their technology. Though having a great reputation, Lockheed has had their fare share of failures. The latest, JASSM project failed to meet the Air Forces requirements and were forced to fix. (Defense Industry, 2009) In the future, Lockheed should really think twice about reducing research cost in order to gain more profit. Focus on the technology and try to deliver a quality product.
Third, recently Lockheed Martin has been selling a large amount of real estate. By doing so, the company has managed to sell all of their building assets to leasing companies that are willing to lease it back to them. Not only is this reckless it is also very costly. As a company, Lockheed should not sell those assets they have retained over the year. These are valuable assets that should be maintained.
With the current growing concern for the environment and renewable resources Lockheed has gather some of there most intelligent and subject matter experts to achieve success. In the past year the U.S. government has been very focused on the development of “Green” technologies. Lockheed Martin has another...
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