Superb Reputation of the Lockheed Martin - Essay Example

? Lockheed Martin Lockheed Martin Company’s Profile Lockheed Martin is the largest corporation that provides services and products in the United States. For the past decades, the company has had a superb reputation in the field of technology based on how it serves its customers and convert them to frequent and potential customers. The company strives to meet the expectations and demands of its clients by providing best services and products that align with the modern technology. Throughout its corporate history, the company has demonstrated that its core objective is to establish market supremacy. The willingness and determination of executive management has played a significant role in establishing future growth in the present and even in the years to come. In essence, Lockheed Martin Corporation has a strong management team, which for the past years has helped the company stay ahead of its competitors. The persistence and determination towards the fulfilment of its mission and visions rests in the management team. The company has a strong culture that boosts talent development on its skilled employees. This builds a strong team that understands the goals and objectives of the company and how they can attain them. The primary purpose of the company is to offer professional improvement in an appropriate way that meets the needs and expectations of clients and shareholders. Thus far, the aim of this paper is to discuss the management area of Lockheed Martin Company and in doing will discuss its mission statement, short term, long term goals. Mission Statements To Hartung (2011), the company’s mission statement is straightforward, to be dynamic, ethical, and technology oriented in the global market. This corporation believes that innovation is the key to success. With this, the company helps the clients achieve the best products and services that suits the needs of the 21st technology world. The company provides the highest standards of ethical conducts in all they do, which as a result, helps in converting the first clients to frequent and potential clients. The company believes that integrity and honesty is the cornerstone of the business’s success. It recognizes that success can only be achieved if the business strives to abide by the laws implemented in the United States and other countries. The company recognizes that its success and growth as an enterprise depends on the skills, expertise, and talent of people and the ability to work as an integrated team. The company appreciates diversity and foster a positive relationship among the colleagues, partners, clients, and the management team. Overall, the company understand the importance and its mission and creates a strong ground where employees understand it and work towards attaining the set goals and objectives. Lockheed strives to flourish in every aspect of its business with determination and perseverance to succeed regardless of any obstacle that comes the way. The company believes that it has what it takes to be competitive in the 21st century where technology has peaked well. As technology advance from one level to the other, the company intends to embrace every opportunity that would make the company succeed in the 21st world. The management team understand that innovation is the key aspect to growth. The management team understand the importance of its mission and strive to embrace ever challenge with right attitude and determination to succeed (Hartung, 2011), Short Terms Goals Some of the short-term goals include increasing in sales and revenues. On a month basis, the company calculates the total sales and revenues and thereafter makes the judgement on whether the company has achieved its target sales and revenues. On a monthly basis, the corporation conducts an assessment, which helps the management team to access areas that need improvement. With this, one would argue that one of the Lockheed’s short term goals is to satisfy clients with best products and services, which satisfy their needs and wants. Still, trainings are conducted often to boost the skills and abilities of employees. The company believes that when employees are equipped with knowledge and skills of how to perform their tasks, then the company is in a better position to flourish both on its sales and revenues. This is because employees understand the organization’s culture and work hard towards achieving the set goals and objectives. Long term Goals Throughout history, this company has demonstrated that one of its core long term goals is to establish market dominance both locally and internationally. To achieve this, the company has ensured that clients are content with their products and thus maintain both frequent and potential clients. The company has also ensured that its products and services are of high technology in the worldwide scene where technology continues to advance at a high rate. As previously mentioned the management team ensures that employees understand the company’s goals and thereafter motivates them to work towards the set goals and objectives (Smith, 2010). The company seeks to match the corporate culture with customers’ priorities. This company recognizes the vital role of customer satisfaction in enhancing growth and productivity. To attract a wide range of clients globally, the company has provided customers with best products and services that retain both frequent and potential clients. The company remains committed with solutions required to address and solve the most complex challenges in the modern society. The principles of enhancing customer satisfaction are best expressed by the corporate culture and vision that highlights that the company is powered with innovation and guided by integrity. As per this principle, the company helps its clients meet their needs. The persistence of the company towards the fulfilment of its goals and objectives is determined by the respect that the company has towards both of its clients and shareholders. The company is committed to its fundamental values of providing the best services in the United States and other countries. The company works hard to rank the best among other competitors across the globe. Annually, the company has ensured that there is an increase in both of its sales and revenues thus ranking the best among its rivals in the field of technology (Smith, 2010). The long terms of increasing customers’ satisfaction and establishing market dominance motivates employees and the management team towards common goals. These goals create a sense of purpose in the management areas and stimulate awareness and knowledge towards what should be achieved. Still, these goals persuade the management team that they need to have adequate skills and abilities to emerge the best in the global world that is much competitive. To retain its leading position in the global market, the company intends to provide the technological solution in various business areas. Most significantly, the company has succeeded in offering best products and services that incorporate the company’s growth and offering. With this, the company has become attractive to its clients whose needs are met effectively. To deliver best services in the 21st century, the company has established it own center for advanced technology in Palo Alto, California in which extensive research is undertaken on technology. The most important fact is that, the company has been in a better position to understand what the modern needs through the centre of innovation technology (Smith, 2010). To manage stiff competition, the company has managed to establish low cost in the house operation along with the highest performance level. The company has adopted an exceptional appraisal method known as Continuous Appraisal Method (CAM), which enables the company the company to identify its strengths and weaknesses. As the company identifies its key strengths and weaknesses, the company has been in a good path of establishing what should be done to enhance growth and productivity. Still, CAM helps the company to access the growth attributed by employees and thus in a better position to reward competent and skilled employees and staff members. The management team is focused on achieving the set financial goal each year to attain satisfactory performance. In this case, the company work hard to attain its clients while maintaining the first the frequent clients to potential clients. In so doing, the company becomes competitive in the global market with high records of sales and revenues. Management Areas For this company to be successful, different management areas have been of help. For instance, the technology department has created a strong ground for the company to be competitive in the 21st century where technology has advanced at a high rate. The management area in technology makes the company to be the leading partner of the Federal Government and a corporation that provides the 21st century with technology solutions. For the past decades, the company has established that it takes more than technology to be the leading and best information technology providers. Additionally, it takes an aptitude of adequate innovation and systems thinking to satisfy clients globally. The management area of technology has been the most vital department where ideas and thoughts are achieved or obtained. The company has established its technology centre in California so called Centre of Innovation. This center helps the company to achieve its goals and objectives of being the best provider of IT products and services. Due to a strong management area in Information Technology, the company has achieved its targeted sales and revenues on a monthly and annually basis. With this, the corporate culture has developed from one level as the company brand continues to emerge the best among many competitors (Smith, 2010). The company has a centre for management excellence, a facility whose primary purpose is to offer professional improvements in an appropriate way to its customers and shareholders. Lockheed Martin recognizes the importance of equipping employees and management team with adequate skills to perform their assigned duties and responsibilities effectively. As the workforce become equipped, the team is ready and equipped with operational excellence and deeply recognizes customers’ needs and wants. To enhance success now and in the future, the company has constantly monitored and managed various areas. These areas include financial management, project management, ownership transition plan, human resource management, and marketing development. Occasionally, the company conducts a regular review of the tactics and strategies for achieving the set goals and objectives. The most important thing is that the company conducts an analysis of how different locations are doing in terms of sales and revenues. Still, the company access whether the websites or online sites are giving out feedbacks of how the company is progressing and how it is attracting new clients. Planning and accessing the tactics and strategies for achieving success helps the company to achieve its set goals and objectives. In other words, it helps the company to evaluate what should be done to enhance growth and productivity. A research conducted by Miller (2005) indicates that, a company cannot flourish without generating adequate cash to pay expenses and boost capital. With this, the company constantly monitor and manage the financial management area, and this helps the company to have sufficient cash to pay salaries, bills, and needed improvement. For the past decades, this company has had a superb reputation of having a strong financial management team that ensures that the company is operating as per its financial means. The financial management team ensures that sales and revenues are well documented and analyzed to evaluate the attained growth and productivity over a span of time. Major initiatives and projects such as marketing campaigns have played a significant role in marketing the company locally and internationally. As the company advertise its products and services across the globe, it has been on a solid pace of achieving its sales and revenues. It is important to note that every company or a business needs a succession plan to enhance continuity even in the midst of challenges and disasters. When a company lacks a transition plan, then it loses value and collapse. With this, Lockheed Martin has a strong transition plan that helps the company to survive and flourish even when other businesses are not doing well financially. From the ongoing discussion, the main key areas of Lockheed Martin that involves management include planning, staffing, controlling, organising, and managing. First, planning involves setting and planning out goals that the company intends to achieve. In this area, the management team evaluates what the company needs to attain at a short period of time of at a long span of time. When planning and setting goals, the company evaluates how it can achieve the set goals and objectives. This stimulates the need to have a strong workforce that understand the company’s goals and work hard towards achieving those goals (Miller, 2005). According to Hartung (2011), staffing is a key area of management in which training and hiring adequately takes place. In this area, the company establishes the need to recruit competent and skilled employees who understand their assigned duties and work hard towards achieving the set goals and objectives. Training is also one of the key areas that the company considers. Annually, the company conducts a training to its employees, which seeks to improve their skills and abilities to perform the assigned duties and responsibilities. Controlling is a crucial field of management that helps Lockheed Martin assess the results generated by the company so that the company can flourish both in its sales and revenues. In this area, the company access the success achieved at a span of time and reward the team behind the success. In so doing, the company motivates competent and skilled employees to work hard to be recognized with the company’s success. Managing and organising areas are fundamental in this company because they help the management team to understand how to achieve the set objectives and aims. Lockheed Martin is a potent illustration of a company that is flourishing in its sales and revenues. For the past years, the company has had a splendid reputation of being the world largest supplier of technology products and services. The company has attracted a wide number of clients both locally and internationally. Based on this research, it is evident that the company has strong management areas that enhance growth even in the midst of challenges and stiff competition. The company’s mission statements are to be dynamic, ethical, and technology oriented in the global market. The company believes that integrity and honesty are the key areas that enhance success in the business. Some of the company’s goals include increasing in sales and revenues, establish market dominance both locally and internationally, match the corporate culture with customers’ priorities, and rank the best among other competitors across the globe. Typically, the company has walked towards the path of achieving its goals both locally and internationally. It has enhanced and increased customer’s satisfaction across the globe, which as a result, has enabled the company to stay ahead of its competitors. Thus far, this essay concludes that Lockheed Martin has strong management areas that help the company achieve its set goals and objectives. The mentioned management areas have helped the company flourish at all times regardless of economic crisis in the global world. References Hartung, W. D. (2011). Prophets of war: Lockheed Martin and the making of the military-industrial complex. New York: Nation Books. Miller, J. (2005). Lockheed Martin F/A-22 Raptor: Stealth fighter. Hinckley: Aerofax. Smith, P. C. (2010). The Lockheed Martin C-130 Hercules: A complete history. Manchester: Cre?cy. Read More