Similar to most multinational companies, LMT operates based on a centralized structure of governance where the company’s management is hierarchical. In centralized organizations such as LMT, all the decisions and processes occur at the executive level of the company. The lower tiers of the organization are limited to the managerial decisions of the executive. They thus cannot make any choices without the approval of the top level of the management. In such operational structures, cases of insubordination or veering off company mandate are rare, and if they occur, they are usually answered with harsh consequences. Consequently, everyday operations at LMT are decided upon by the upper level of the managerial hierarchy. Moreover, the company possesses guidelines and policies set up to ensure that the lower levels of the company abide by the instructions of the company’s executives (Lockheed Martin, n.d.).
According to the official company website, LMT uses a Full Spectrum Leadership model as the cornerstone of its departmentalization. The model indicates that corporate culture change occurs in two ways: from the bottom to the top with influence from shifting economic realities and second, flowing from the top to the bottom, with the leadership of the company recognizing the inevitable changes in society and designing systems to serve in the best interest of the employees (Lockheed Martin, n.d.). At LMT, the full spectrum leadership focuses on allowing the company to create its destiny and make the necessary changes that will enable the company to thrive in the face of new challenges.
LMT’s model operates based on the five imperatives of delivering results, shaping the future, building of effective relationships, energizing the company’s teams, and promotion of personal excellence, integrity, and accountability. The company has continued to use the model since its inception in the year 2006, thus asserting its efficacy basing on the huge revenue the company has been able to accumulate ever since and also the progress in terms of operational size (Lockheed Martin, n.d.). The model has continued to provide a foundation used in the selection, development, and assessment of the performance of leaders on all levels.
Imperatives of Leadership at LMT
According to this imperative, leaders at the company are responsible for the delivery of results through the consistent achievement of expectations and value delivery to the company’s customers and stakeholders.
Shape the Future
LMT leaders need to be futuristic in their thinking and need to envision opportunities, set the direction, and also articulately provide steps for the achievement of results.
Build Effective Relationships
The third imperative require sociable leaders who possess the ability to create and maintain effective relationships with the company and also with the clients of Lockheed Martin. Such leaders are also required to use the same skills to establish similar associations within the levels and departments of the company, including the employees and the members of the communities in the different locations of the company and its subsidiaries.
Energize the Team
According to this imperative, LMT leaders need to maintain positive and engaging environments at the company facilities. These conditions are required to ensure that the employees excel and remain productive. Moreover, it is the responsibility of the leaders to foster cultural inclusivity that proliferates trust in Lockheed Martin’s standards.
Model Personal Excellence, Integrity and Accountability
Any leader, regardless of the industry or the sector that one belongs to, it is imperative for one to uphold a way of life that mentors the people under their leadership. LMT requires its leaders at all levels to be role models to their subordinates irrespective of their personal opinion. Consequently, such leaders are required to demonstrate a commitment to the company and also possess a track record of personal excellence coupled with integrity and ethical standing.
The leadership and management at LMT include lower managerial levels that include geographical departmentalization for the company’s locations in America, for example, Forth Worth, Texas, and other sites. Currently, the senior management at LMT includes a CEO, a CFO, and Executive Vice Presidents in the company’s four current business areas. The company’s Executive Chairman is Marillyn A. Hewson, James D. Taiclet, the company President and CEO (Lockheed Martin, n.d.). Kenneth Possenriede is the Executive VP and CFO of the company, while Frank St.John as its Chief Operating Officer. These are the four central executive positions of the company, all of which operate under the oversight of a Board of directors consisting of twelve individuals drawn from different industries, each possessing a stake of Lockheed Martin.
LMT Current Position, Priorities and Direction
According to Marilyn Hewson, in the 2019 Annual Report of the company, Lockheed Martin continued in its trajectory of robust growth and positive momentum. She also commends the company on managing to help its clients and the world as a whole in fulfilling their missions. The company has also maintained its commitment to the defense industry through sustainable performance that resulted in strengthened global security and progress in the field of science and technology, as well as promoting economic growth and opportunity (Ruiz, 2019).
The company’s outcomes in 2019 spilled out of commitments from over the company, utilizing its expansive portfolio and unmatched experience (Lockheed Martin, n.d.). The Lockheed Martin group squeezed forward in each area, whether ashore or adrift, noticeable all around, in space, or on the internet. Its capacity to persistently create and enhance is characterizing the future in regions essential to America and its partners – advancements, for example, hypersonics, laser weapon frameworks, air and rocket resistance, satellites, rotational and fixed-wing airplane, and self-sufficiency.
The CEO explains how they watch out on the difficulties of another decade, unmistakably free countries currently face one of the most unique and erratic danger scenes in present-day history. At Lockheed Martin, the company relies on its clients and envisioning their necessities. Moreover, the company’s performance over the past financial year only provides evidence cementing its position as a pioneer in innovative technologies pertinent to the highly volatile defense supplies market.
Current Technological and Scientific Innovations From the Departments of the Company
Revolutionary Military Grade Aircraft
At Lockheed Martin Corporation, the F-35 initiative keeps on setting the standard as a coordinated innovation that is having a constructive worldwide effect. LMT’s accomplishments in 2019 show an engagement that is on target and very much situated to become advanced. Immediately after initiation in the same year, the US Navy declared its Initial Operational Capability regarding their F-35C fighter jets. Similarly, Norway, Japan, and the United Kingdom made announcements on their separate fighter jets.
Moreover, during the 2019 fiscal year, the company was also able to procure an agreement from the Netherlands to manufacture the country its first F-35 jets. 2019 as well saw the finalization of the $34 billion F-35 Joint Initiative Office and conveyance of 478 F-35s more than three agreement parcels. The understanding spoke to the most significant F-35 creation agreement and the most reduced aircraft costs in initiative history. It will empower a typical cost reserve fund of 12.7% over each of the three variations over Lots 11 to 14. Lockheed Martin Corporation was ecstatic to extend one more year on the excellent and good working relationship with the US DoD.
In 2019, LMT likewise demonstrated its preparation for full-rate creation. LMT created 134 F-35s – surpassing the initial target of producing 131 aircraft for the year. The statistics speak to a 47% expansion more than 2018 and an about 200% creation increment more than 2016. It is the third sequential year Lockheed Martin Corp was able to meet its yearly conveyance target. One year from now, Lockheed Martin Corp intends to keep up the same energy as it advances toward top creation by 2023. Toward the finish of the year, the F-35 Joint Initiative Office additionally granted us a $1.9 billion agreement to help tasks and sustainment of the worldwide F-35 fleet, which will empower us to fortify further strategic and decrease costs (Lockheed Martin, 2019).
The unmatched abilities of the fifth-age fighter keep on dazzling military pioneers far and wide, opening up the potential for future deals to different countries. Singapore reported they are looking to gain four F-35s, with the choice for eight more. Also, the US State Department affirmed the proposed offer of 32 F-35A aircraft to Poland for an expected expense of $6.5 billion (Gao, 2016). The F-35 initiative wasn’t the main universal achievement in 2019, because of significant and expanding interest for the F-16 – the world’s most progressive fourth-age fighter – the organization reshaped LMT’s activities and officially started F-16 creation in Greenville, South Carolina.
The initial order for the first set of F-16s belongs to the Kingdom of Bahrain. Other buyers of the model include Bulgaria and Slovakia, and also Morocco, which was accredited to receive 25 aircraft by the US State Department (Petrescu et al., 2017). Likewise, in 2019, the company entered into a partnership with the US Air Force as the administration started coordinating the Automatic Ground Collision Avoidance System (Auto-GCAS) into its F-35 fleet (Lockheed Martin, 2019). Since it got operational on the F-16 over five years back, Auto-GCAS has just been credited with sparing nine lives. The Aeronautics group performed with phenomenal speed and skill to convey the lifesaving innovation on the F-35 – seven years in front of the timetable (Lockheed Martin, 2019).
Provision of Progressive and Advanced Missile Capabilities and Defense
The company’s Missiles and Fire Control business territory kept on contributing entirely to the organization’s development by creating and delivering advances that clients need to secure their residents. In March, the company received a $1.1 billion agreement for its exceptionally successful Guided Multiple Launch Rocket System or GMLRS. The Lot 14 agreement required the creation of more than 9,500 GMLRS rockets and, more than 300 practice adjusts (Lockheed Martin, 2019). The US Armed force additionally granted us an agreement modification that will build the nature of the Patriot Advanced Capability-3 (PAC-3) rocket for the US government and Foreign Military Sales clients (Lockheed Martin, 2019).
Besides, LMT kept on pursuing large worldwide business open doors for the Terminal High Altitude Area Defense initiative, booking agreements totaling $4.8 billion out of 2019 alone. In another agreement win, the US Naval force and the US Air Force mentioned every subsequent creation part for the air-propelled variation of LMT Long Range Anti-Ship Missile, or LRASM, framework. The US Naval force pronounced LRASM Early Operational Capability on the F/A-18E/F Super Hornet in November.
With this cutting edge hostile to dispatch rocket, LMT was carrying upgraded capacities and stretched out the range to the Navy and Air Force to assist them with keeping up untamed oceans. In December, the company drove forward development and successfully tested the long-run rocket intended for the US Armed force’s Precision Strike Missile initiative. The cutting edge rocket will convey upgraded capacities for assa...
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