Emerging Markets and Growing Global
Essay Preview: Emerging Markets and Growing Global
Report this essay
Lockheed Martin is headquartered in Bethesda, MD, Lockheed Martin is a global security and aerospace company that employs about 140,000 people worldwide and is chiefly engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
As a global security, aerospace, and information technology company, the majority of Lockheed Martins business is with the U.S. Department of Defense and the U.S. federal government agencies. Lockheed Martin is the largest provider of IT services, systems integration, and training to the U.S. Government. The remaining portion of Lockheeds business is comprised of international government and some commercial sales of products, services and platforms. (“Who we are,”)
Lockheed Martins operating units are organized into broad business areas which are listed below. (“What we do,”)
Aeronautics, with approximately $14.3 billion in 2011 sales, includes tactical aircraft, airlift, and aeronautical research and development lines of business.
Electronic Systems, with approximately $14.6 billion in 2011 sales, includes missiles and fire control, naval systems, platform integration, simulation and training and energy programs lines of business.
Information Systems & Global Solutions (IS&GS), with approximately $9.3 billion in 2011 sales, includes C4I, federal services, government and commercial IT solutions.
Space Systems, with approximately $8.1 billion in 2011 sales, includes space launch, commercial satellites, government satellites, and strategic missiles lines of business.
Lockheed Martin companies Chairman and Chief Executive Office is Robert J. Stevens. Christopher E. Kubasik, is President and Chief Operating Officer and Bruce L. Tanner, is currently Lockheed Martins Executive Vice President and Chief Financial Officer The four vice presidents for the different divisions in Lockheed are as follows. Information Systems & Global Solutions – Linda Gooden, Executive Vice President, Aeronautics – Ralph D. Heath, Executive Vice President, Electronic Systems – Marillyn A. Hewson, Executive Vice President, Space Systems – Joanne M. Maguire, Executive Vice President(Zarcadia, 2012) (
Lockheed Martins mission statement is “Lockheed Martin is the leading global security and aerospace company, solving our customers most difficult problems through our employees innovation, performance and unmatched integrity.” And their CSR (Corporate Social Responsibility) statement is: (“Ethics: The essence,” 2011
Doing whats Right
Lockheed Martin is committed to the highest standards of ethical conduct in all that they do. They believe that honesty and integrity engender trust, which is the cornerstone of their business. All employees must abide by the laws of the United States and the other countries where they do business and must strive to be good citizens and take responsibility for our actions.
Respect Others
Lockheed Martin recognizes that their success as an enterprise depends on the talent, skills and expertise of their people and their ability to function as a tightly integrated team. They appreciate diversity and believe that respect – for our colleagues, customers, partners, and all those with whom they interact is an essential element of all positive and productive business relationships.
Perform With Excellence
Lockheed Martin understands the importance of the trust that their partners and customers place in them with regards to their missions. With this in mind, Lockheed Martin strives to excel in every aspect of their business approach and advance toward every challenge with a determination to succeed. (Setting the Standard; Code of Ethics and Business Standard, 2011)
Lockheed Martin as a company right now is performing extremely well. The latest annual report available, which was for 2010, shows that Lockheed met or exceeded their expectations for financial performance. Sales grew 4 percent to $45.8 billion, and they increased their earnings per share to $7.94. Lockheeds backlog of orders also increased to more than $78 billion at the end of 2010. Lockheed Martin also realigned business units to consolidate and gain greater efficiency and synergy. They created a new organization within Electronic Systems, Global Training and Logistics, by merging several smaller business units. This will allowed them to better respond to the growing requirement for simulation, training, and logistics solutions in support of the war fighter.
Lockheeds Commercial Space Systems unit was merged into the Global Communications Systems business for a more integrated and affordable approach to operating our commercial and government satellite programs worldwide. Lockheed also reallocated resources such as the end of manufacturing operations at Middle River, Maryland, and the closing of their Eagan, Minnesota facility. They also moved their ground vehicle business from Owego, New York, to Dallas, Texas. This decision was painful and resulted in some layoffs, but in this economic climate they realized that some infrastructures needed to be consolidated.
Some of the more successful programs in development are the F-35 Lightning II
Program and the F-35B Short Takeoff/Vertical Landing (STOVL) in the aeronautics arena and In the space arena they are continuing to develop new communications satellite, VINASAT-2 along with the new Littoral battleships for the United States Navy for the U.S. Special Operations Command.
The current technological opportunities that are available to expand the companys current operations can be found in both defense and non-defense contracts within the aerospace and defense industry. (Jeff Paul, 2011) As the largest weapons manufacturer in the world, Lockheed Martin has brand recognition and size in its favor. While heavily dependent on U.S. government funding (84%), Lockheed Martin has diverse capabilities and products, allowing it to pursue many commercial applications that would help to grow and balance Lockheed Martin. For example, there is increasing demand for security systems including: satellite tracking systems, complex data security, and fingerprint ID technology.
Lockheed Martin has a newly released e-commerce system called Prepar3D. The system is an ecommerce enabled store that allows companies to sell their and products on a website or portal application. Customers can create their own store on the site and track sales and revenues for their site. There is also provided a digital distribution