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It also develops and integrates spacecraft systems and subsystems, electronic and communications payloads, intercontinental ballistic missile systems, and high energy laser systems and subsystems in the areas of space, defense, and electronics technology (Northrop Grumman Corporation (NOC), 2009).
The Raytheon Company designs, develops, manufactures, integrates, and supports technological products, services, and solutions for governmental and commercial customers in the United States as a well as internationally. It does business in six different segments: Integrated Defense Systems (IDS), Intelligence and Information Systems (IIS), Missile Systems (MS), Network Centric Systems (NCS), Space and Airborne Systems (SAS), and Technical Services (TS). The IDS segment provides ballistic missile defense, including space, air, surface, and subsurface; naval; and maritime and homeland security solutions (Raytheon Co. (RTN), 2009).
Keeping an eye on the competition is always important for a company to do in order to grow their share of the market. The advantage that Lockheed seems to have over their competitors is that they are not involved in as many diverse products overall as these other companies are. Having too much product diversity can have a negative effect on a company overall because although one can do okay in all of their segments, they often do not excel in any one in particular. It is often better to focus on what you do really well in order to be successful.
Highly specialized personnel and facilities are the key to the company's unrivaled success and strength in the aeronautics industry. Their workforce of more than 20,000 has unsurpassed expertise in advanced aircraft design and production, modification and support, stealth technology and systems integration. Lockheed Martin Aeronautics Companies are located in Clarksburg, W. Va.; Greenville, S.C., Johnstown, Pa.; Marietta, Ga.; Meridian, Miss.; Palmdale, Calif.; Pinellas Park, Fla.; with the headquarters in Fort Worth, Texas. They also have offices in various countries throughout the world (Lockheed Martin Corporation, 2009).
Lockheed Martin has a very diverse supplier Program that includes promoting the following objectives:
To ensure that small businesses of all types are given a fair opportunity and consideration to participate in the Corporation's subcontracting process.
To provide all Lockheed Martin personnel who are involved in the acquisition of materials and services the right tools and training in order to enhance their ability to meet the Company's supplier diversity goals and objectives (Lockheed Martin Corporation, 2009).
It is Lockheed Martin's policy that its business units conduct socioeconomic subcontracting programs that recognize compelling moral, social and economic necessities. It is also Lockheed Martin's policy to facilitate the achievement of its negotiated subcontracting goals by developing the capabilities of, and pursuing opportunities to award subcontracts and other procurements to, small, small disadvantaged, women, veteran, and historically black and tribally owned colleges and universities, as well as other minority institutions (Lockheed Martin Corporation, 2009).
In order to help achieve these objectives, Lockheed Martin has instituted a proactive supplier diversity program that is designed to develop the growth and competitive capabilities that will enable such businesses to become responsible suppliers. This program is consistent with Lockheed Martin's policy of considering all subcontractors and suppliers fairly in competition for requirements falling within their demonstrated capabilities. This policy applies to both government contracts and commercial programs (Lockheed Martin Corporation, 2009).
Lockheed Martin is a market leader in the aeronautics industry and seems to be doing all the right things in order to remain on top. Their strengths include their highly trained personnel and diverse supplier program. There weaknesses tend to come from internal sources as opposed to external ones. With global relations the way they are at the present moment there seems to be a plethora of opportunities for Lockheed Martin to continue to see fighter aircraft around the world. A major threat that this company faces is retaining their relationship with the U.S. government. Since they do almost 80% of their business with them it would only be beneficial for them to continue to foster a good working relationship them.
Lockheed Martin is currently a very successful company with the capabilities of continuing to be successful for many years to come. Like any companies they have had their issues over the years, but have always managed to land the big contract and continue to forge ahead, while advancing technology around the world.
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Northrop Grumman Corporation (NOC), (2009). Retrieved September 10, 2009, from Yahoo
Finance Web site: http://finance.yahoo.com/q?s=NOC
Raytheon Co. (RTN), (2009). Retrieved September 10, 2009, from Yahoo Finance Web site:
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This continues act as a barrier to entry for aerospace manufacturers located throughout Asia, specifically China, who are looking to capitalize on increased government spending on defense. The costs associated with hiring, retaining employees and funding security clearances for employees in this industry makes recruitment and retention critical. As a result of all these factors combined the barriers to entry are exceptionally high in the global military aerospace products
Lockheed Martin, which handles bidding, negotiations, and performance of government contracts. Lockheed Martin has a reputation for conducting business nationally and globally and is well respected within the industry. The company and competitors or similar manufacturers including Ball Corporation regularly conduct marketing and advertising research to determine what products/services are best suited for consumer interests. Research suggest that a company such as Lockheed must engage in the highest level of
The student has provided research on various vibration analytic techniques such as the use of Laser Vibrometry for Damage Detection using Lamb Waves in discovery processes to detect microcracks. Outcome 3. The Information Literacy competency was satisfied through the research efforts made by the student through data gathering regarding aircraft structures and vibrations qualification techniques retrieved from the MIL-STD-810F and NASA Langley Research Laboratory. Techniques include Fatigue Damage Spectrum (FDS)
There is an emerging set of new technologies for online marketing collectively called Web 2.0 marketing techniques and are profiled in Appendix a of this memo. These technologies allow for a much more interactive communication with customers, and while the Lockheed Martin customer base is quite conservative, the use of web services that combine multiple areas of interest to them (called Mashups in Web 2.0 vernacular) that bring insights
Corporate Analysis Company Studied Lockheed Martin Articles you read about each company (online or print) http://www.lockheedmartin.com/us/news/press-releases/2012/february/isgs-jieddo-ops-0207.html http://www.google.com/finance?client=ob&q=NYSE:LMT http://finance.yahoo.com/q/pr?s=LMT+Profile http://www.marketwatch.com/investing/stock/lmt Lockheed Martin Corporation-2010 Annual Report Notice of 2011 Annual Meeting of Stockholders Number of countries the company does business in (75 Internationally, in addition to U.S.) Headquarters location 6801 Rockledge Dr., Bethesda, MD 20817, USA Number of employees Gross Revenue in most recent year available $46.5 billion Names of the Chairman of the Board, CEO, President, CFO Board Chairman and CEO: Robert J. Stevens, President and COO: Christopher E.
Annual Reports Financial Statements Annual Financial Reports Describe the general organization of each of the three sets of financial statements. Which is more useful in your opinion for each of the three companies: Net Income or Cash from Operating Activities? The general organization, of the three companies being examined is focused on different segments of the economy. Samsung Electronics is a manufacturer of: digital media products, semiconductors, telecommunications products, consumer related electronics
For example, there are many SEC registered companies, and they are not all American companies. Many of them are actually headquartered in foreign countries. In the past they had to change their accounting and financial information over to GAAP requirements, but changes are allowing companies to continue to use IFRS instead. Some of the U.S. based companies are also going to be allowed to use IFRS in order to