Is the firm pursuing a cost or differentiation strategy?
The research provided will discuss Lockheed Martin's Mission, Objectives and Vision. The SWOT Analysis will be an overview that will discuss the company's Strengths, Weaknesses, Opportunities and of course, Threats.
The Lockheed Corporation and the Martin Marietta Corporation merged and became one in March of 1995. Both companies were respected aviation and defense magnets, and well respected companies, prior to the merge. Prior to the merge, each company had its own story. Glenn L. Martin, aviation pioneer, originated his airplane construction business in 1909. In 1961, the company merged with the American-Marietta Corp. The Lockheed brothers formed their company in 1932.
By the time of the merger, both companies had been in business over 50 years and have been innovative during that time. As one, the company is a force to be reckoned with, as the two are now a magnet.
In today's struggling economy, Lockheed Martin is surpassing profit levels at an amazing pace. The company's financials are significantly strong and with the consecutive government contracts the company has been awarded, the likelihood of the business faltering is non-existent.
The company is well-respected worldwide and its workforce is compiled of the highest quality employees in their respective fields.
The impression of this company is sound and secure.
While the competition is out there, in the form of Boeing and Northrop Grumman, neither has the market share of Lockheed Martin. Back in the 1980s when Ronald Regan was President, Grumman was the leader military contracts. Grumman put all its eggs in one basket and Lockheed Martin began encroaching on Grumman's turf. The baby steps lead Lockheed Martin to its significant market share that is seen today.
"The U.S. Air Force has awarded the Lockheed Martin ...