Essay On Lockheed Martin Strategy

Lockheed Martin’s Chosen Strategy
Lockheed Martin (LM) is an organization in the aerospace and defense systems industry. LM produces multiple products including defense system software, ordnance, aircraft, and unmanned assault vehicles for its customers. In order to maintain long-term success, LM’s strategy must include methods to recognize emerging technology as well as global threats to create defense systems and equipment meeting the needs of each customer. Leaders at LM must possess an inner compass to guide them through analysis, strategy development, and continually pushes them in the direction of their ultimate goal (Wilson, 1996). This paper will determine LM’s current strategy, apply the Grand Strategy Matrix, and determine if

Innovation strategy involves creating new products and making older products obsolete. It is an important strategy for LM because their products are designed for a specific life cycle and must be replaced with newer technology in the future. If LM does not employ and innovation strategy, the organization’s competitors will replace LM products in service and render LM itself obsolete. As with all technology, aerospace and defense system equipment does not have a long shelf life. Organizations are continually working to develop new systems with increased capability as well as survivability. LM’s innovation strategy has contributed to the development of numerous unmanned aerial assault vehicles that will likely eliminate loss of life for aircraft pilots and aircrew in future conflicts. However, LM leadership should review their strategy periodically with the Grand Strategy Matrix to ensure they are headed in the best direction for the

In an industry, like aerospace and defense systems, that missed opportunities can result in billions lost in profit, organizations must be sure the correct strategy is chosen to prevent future financial trouble. Applying the Grand Strategy Matrix to LM reveals an organization firmly in quadrant one. Quadrant one organizations are those that combine a strong competitive position with a high growth market. Organizations in quadrant one are in outstanding strategic position and need to simple concentrate on the current products and market (Kasi, 2010). At this time, everything is going well at Lockheed Martin, and they have positioned themselves in a great place in their