Case Study Lockheed Martin

693 Words3 Pages
Lockheed Martin Company Project Phase Two
Lockheed Martin is no stranger to unions. Its employees belong to multiple unions including, but not limited to, the International Association of Machinists and Aerospace Workers (IAW), the International Brotherhood of Electrical Workers (IBEW), the Security, Police, and fire professionals of America (SPFPA), the Office and Professional Employees International Union. Preliminary research revealed that Lockheed experienced short-term strikes in 1984, 2000, 2003, and a 16 week strike in 2012 (Shalal-Esa).
On Monday April, 23, 2012 approximately 3,650 IAW union workers walked off the job at a Fort Worth, TX plant and two military bases over changes to healthcare and pension benefits. The strike ended on
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Each product line consists of a very broad mix of products. Product lines center on shopping products, which are highly priced and used for a fairly long period of time. There are multiple purchasing methods used, however the majority of their purchases are made as a result of winning a contract bid. The bidding process allows government agencies to research features and compare pricing with competitors. The company is continually refining and adding to its product line, as a result any individual product may be in any one of the product life-cycle stages. Overall, I would say that their product line is in the growth stage. I have not come across a lot of information indicating that they have recently retired, or are considering retiring any products at this time.
Lockheed’s pricing strategy choices are somewhat limited because the majority of their products are sold by winning contracts over their competitors. They must offer competitively priced products with desirable features in order to win government
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Some of the positions that I found were for administrators, developers, system engineers, analysts, and planners. Benefits that they offer to attract new employees include health insurance, wellness programs, life and disability insurance, retirement savings plan, partial 401(k) match, paid time off for military obligations, sick and bereavement leave. They did offer an employee stock option plan at some point. I was unable to locate any details about it to determine if they are only offering it to existing employees, or if they are extending the benefit to new hires as well. They offer part-time positions as well as telecommuting
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