LOCKHEED MARTIN MISSILE AND CONTROL (Essay Sample)

Lockheed Martin Missile and Control
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Lockheed Martin Corporation
The research paper is based on the Lockheed Martin Corporation, a prominent American multinational corporation with key business specializations in aerospace goods such as planes, space launches, satellites, weapons technology, and other sophisticated products and services. The US Defense department accounts for over half of the industry's yearly revenue; Lockheed Martin is also a significant supplier for the United States (Gaspar, 2020). The organization developed the F-16 Shooting Falcon multi-role attacker, the C-130 Hercules military aircraft, and the P-3 Orion coastal patrol jet. Notable projects include the F-22 Raptor fighter jet, developed in collaboration with Boeing Corporation, and the Air Superiority Fighter, developed in rivalry with Boeing (JSF). In addition, the corporation does improvements, alterations, and refurbishment on its older planes. Among other products are the Titan IV and America's most extensive expendable launch system. Lockheed Martin provides goods and services with defense, civil, and commercial applications to domestic and foreign customers, with the company's primary customers being US government agencies.
Strategic planning is essential for a business because it offers direction and establishes achievable objectives. A planning process is an excellent tool for directing day-to-day activities and reviewing progress, and adjusting tactics as you move forward. Examples of practical, strategic planning include; a corporate strategy that entails goals and objectives and action planning and measurement (Gaspar, 2020). The second example is education, a strategic plan for learning institutions; it evaluates goals and outcomes for various academic institutions. The last one is marketing; it primarily works for companies and business organizations.
There are several opportunities for Lockheed Martin to expand into the market; these opportunities include global partnerships such as the global business footprint, global research and development, and advanced technologies. The company's experience and track record of success in the connecting system to automate customer satisfaction, from robotics and machine learning to focused energy and hypersonic. Being the pentagon’s largest contractor, Lockheed Martin corp. should enter the international market because the demand for security products is increasing globally. Successful plan execution can be complex, and it necessitates excellent leadership and organizational abilities (Wheelen et al., 2017). Delegation skills that include competence, patience, emotional stability, specific organizational skills, and interaction skills are essential.
Policies and procedures are critical components of any organization. Policies and procedures, when combined, establish a transition plan for daily activities. They guarantee that rules and regulations are followed, provide advice for judgement, and improve business processes. Organizations can maximize the movement of data, goods, and funds with the assistance of strategic sourcing (Wheelen et al., 2017). They can utilize these improved procedures to find and capitalize on emerging opportunities and mitigate the dangers that threaten their company. Information systems enable a corporation to use its data better, minimize workload, and comply with numerous mandated laws.
The international market is larger; therefore, the company has to have the following core values to fit into the international level; two sets of unpredictable variables are involved, a broader set of skills, must be fierce in competition, and entails considerable risk difficulty.