STRATEGIC AUDIT REPORT- Guidelines I am exploiting Lockheed Martin company for the strategic audit I - EXECUTIVE SUMMARY · This section should be a review of the Strategic Audit’s findings. It is not...

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Strategic Audit of Lockheed Martin
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Executive Summary
Lockheed Martin is basically an American worldwide aerospace, security,
defense and progressive technologies corporation holding global interests. Since the United
States has relieved its export controls towards Asian countries, Lockheed Martin could spread its
operations there through acquiring companies. This could be done since the corporation is
financially sound. Other strategy is to make use of progressive technology for delivering new
and exceptional products to the developing marketplace. Moreover, the company should
regularly update the technology and systems for dealing with threats such as speedy
technological transformations. Within the defense segment, giants companies such as Boeing
might hold superior tech than Lockheed Martin and thus, for competing the company needs to
have well-timed upgrades of technology. Additionally, within the defense segment there are
several substitutes. Lockheed Martin could take on more companies for gaining access to latest
techniques and minimizing substitute threat.
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History of Lockheed Martin
To start with, Lockheed Martin is basically an American worldwide aerospace, security,
defense and progressive technologies corporation holding global interests. The company was
established through the unification of Martin Marietta with Lockheed Corporation during the
year 1995 (Lockheed Martin, 2017). Lockheed Martin has its headquarters located
within Bethesda, Maryland (Washington, DC, region). The company offers employment
opportunities to more than 126,000 individuals across the world. Moreover, Lockheed Martin is
considered as being one among the biggest corporations within the aerospace, security, defense
as well as technologies sector (Lockheed Martin, 2017). Also, it is the globe’s biggest defense
contractor grounded upon proceeds for fiscal year 2016 (Lockheed Martin, 2017). During the
year 2013, 78 percent of Lockheed Martin's proceeds originated from military sales. During the
year 2009 US government agreements amounted for around 38.4 billion dollars (85%), foreign
government agreements around 5.8 billion dollars (13%), and lastly, commercial and other
agreements for around 900 million dollars (2%) (Lockheed Martin, 2017).
Moving ahead, Lockheed Martin functions through five different business divisions i.e.
Aeronautics, Missiles and Fire Control, Information Systems & Global Solutions, Space Systems
and lastly, Rotary and Mission Systems. The corporation has been awarded the Collier
Trophy for around six times, for the development of X-35/F-35B LiftFan Propulsion System and
lately during the year 2006 for directing the group, which established the F-22 Raptor fighter jet
(Lockheed Martin, 2017). Additionally, the company is presently devising the F-35 Lightning
II and directs the global supply network, directs the team for developing as well as implementing
of technology resolutions for the recent USAF Space Fence (AFSSS replacement). The company
is also the main contractor for the developing Orion (spacecraft) command module (Lockheed
Martin, 2017). Further, the corporation also makes investment towards healthcare
systems, intelligent energy distribution, renewable energy systems and finally. compact nuclear
fusion.
Mission and Vision Statement
Mission
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The mission of the company is to solve multifaceted challenges, progress scientific discovery as
well as provide ground-breaking solutions for helping the customers safe (Lockheed Martin,
2017).
Vision
The vision of the company is to be the worldwide leader in assisting customers' missions,
reinforcing safety as well as progressing scientific discovery (Lockheed Martin, 2017).
Corporate Governance
Board of Directors
Daniel F. Akerson
Former Vice Chairman of
The Carlyle Group
Director since February 2014
Previously, director of
American Express
Corporation from the year
1995 till April 2012 and
presently Chairman of the US
Naval Academy Foundation as
well as LDiscovery, LLC,
Chairman an information
services corporation.
Nolan D. Archibald
Retired Chairman, President
and CEO
The Stanley Black & Decker
Corporation
Director since April 2002
Before, Mr. Archibald was
Chief Executive Officer
(CEO) and Chairman of the
Board of The Black & Decker
Company from the year 1986
till March 2010. Mr.
Archibald presently serves as
Brunswick Company and
Huntsman Company director.
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Rosalind G. Brewer
President and Chief
Executive Officer of Sam’s
Club
Director since April 2011
President and CEO of Sam’s
Club, a fraction of Wal-Mart
outlet, Inc., ever since
February 2012. Formerly,
Mrs. Brewer was director of
Molson Coors Brewing
Corporation from the year
2006 till 2011 and presently
part of the Trustees Board in
Spelman College.
Senior Management
Bruce A. Carlson
Retired U.S. Air Force
General
Director since July 2015
Advisors Board Chairman of
Utah State’s Space Dynamics
Laboratory ever since the year
2013.
Joseph W. Ralston
Vice Chairman
The Cohen Group
Director since April 2003
Vice Chairman of The Cohen
Group ever since the year
2003. Formerly served as URS
Corporation director from the
year 2003 till October 2014
and presently Timken
Company director.
Anne Stevens
Retired Chairman and
Principal
SA IT Services
Director since September
2002
Member of the National
Academy of Engineering and
presently Anglo American plc
as well as XL Group director.
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External Environment: Opportunities and Threats
Opportunities
In case if Lockheed Martin could aggressively trim down the price of F-35 Joint Strike Fighter,
the company could have an offering, which would govern the global...