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Lockheed Martin Corporation - Essay Example

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LOCKHEED MARTIN CORPORATION Name: University Course: Instructor: Date: Lockheed Martin is an American aerospace multinational that also specializes in defense, security and advanced technology industries. The corporation was instituted in 1995 following the merger between Lockheed Corporation and Martin Marietta (Yenne, 2000)…
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Lockheed Martin Corporation
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"Lockheed Martin Corporation"

Download file to see previous pages The operations of the corporation are divided into different segments comprising electronic systems (27%), aeronautics (27%), information systems and global solutions (27%) and space systems (19%). Today, US government contracts account for much of the corporation’s revenue while foreign government contracts also make up a substantial share of the revenue. On the other hand, orders from commercial clients only make up a mere 2 % of the total revenue the corporation nets in a year. In 1996, the corporation finalized the plans to acquire Lorad Corporation which subsequently became part of the Corporation at a cost of $9.1 billion. Like any other global corporation engaging thousands of employees across the world, Lockheed is certainly faced with a myriad of challenges that normally define business operations in the present world. One of the greatest challenges facing the corporation is the need to address employee concerns and effectively tackle the aspects of employee and industrial relations without many problems like is always the case. On certain instances the corporation has had to face the challenge of striking workers and go slow as employees complained about various aspects relating to their operations in the organization (Terris, 2010). In that regard, the aspect of dealing with these employee concerns has been one of the greatest employee challenges affecting the organization. Like most workers in the industry, most of Lockheed’s workers are unionized under the International Association of Machinists and Aerospace workers and are always part and parcel of the activities steered by the association. The International Association of Machinists and Aerospace Workers is a worker organization which draws its origin in 1888 when a group of nineteen machinists came together and formed the Order of the United Machinists and Mechanical Engineers. With time, the small organization grew up in membership and adopted the present name. The organization has had a turbulent history characterized by the growth of labor movements in the twentieth century. The growth of the union went in tandem with the development of the transport industry throughout the years as more and more workers became employed in the industry. During its formation, the organization was generally a secret affair given that employers of the time were very critical and hostile toward organized labor movements. However, the Order rapidly spread beyond its formation zone of Georgia and was soon a recognized affair in the United States. Much of the growth in the membership of the union was mostly evidenced during the World Wars when workers in the transport industry increased owing to the increased demand of vehicles and airplanes. In the course of the 1970s, the union was segmented into several divisions dealing with specific issues affecting the members. These included civil right, organizing, older workers and retired workers and women. At a convection held in 1984 in Seattle, Washington, the delegates voted and decided to use the Placid Harbor Education Center in order to train and educate the members of the union. In 1998, the center was renamed to the Winpisinger Education and Technology Center in order to recognize and honor the late President of the union. Throughout history, the union has always addressed the issues affecting ...Download file to see next pagesRead More
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