Lockheed Martin Corporation has circa 126,000 employees worldwide and operates in four major busi-ness segments: Aeronautics, Mission and Fire Control, Rotary and Mission Systems & Trainings, and Space Systems (Lockheed Martin Corporation, 2015b).
In 2015 the business segment Aeronautics, which includes research, development, production, support and integration services of advanced military aircraft had a turnover of circa 15.5 billion U.S. dollars. The Missiles and Fire Control segment, which includes the research, development and production of the PAC-3 missiles had a turnover of circa 6.8 billion U.S. dollars. The Rotary and Mission Systems seg-ment, which includes research, development and production of the Sikorsky military and commercial …show more content…
Department of Defence and the U.S. Federal Government agencies are the main customers of Lockheed Martin Corporation. The remaining revenue from the corporation comes from sales of hardware and services to international governments, U.S. Civil, National Aeronautics and Space Administration (NASA), U.S. Commercial and Other (Lockheed Martin, 2016d). The corporation was ranked 64th in 2015 on the Fortune 500 list of largest industrial corporations (Lockheed Martin, 2016d).
2.2. Management and Corporate Governance
It is crucial for a corporation to have an excellent Management Team that works toward the creation of value for all key stakeholders. The author believes that a corporation’s success and existence are con-nected to the Management Team’s strength to recognize the interests of all key stakeholders. This sec-tion of chapter two will give the reader an insight into the Management and Corporate Governance of Lockheed Martin Corporation.
2.2.1. Management
It is important to emphasize on the qualitative and quantitative aspects of Lockheed Martin Corporation. Evaluating the Management Team is complex, due to the intangible characteristics of the profession. In this section we focus on the qualitative aspects of the Management …show more content…
The Chairman, President and CEO of the world's largest defense contractor is Ms. Marillyn A. Hewson (Lockheed Martin, 2016d). Ms. Marillyn A. Hewson has been with the corporation for over 30 years. She served as Executive Vice President of Global Sus-tainment for Lockheed Martin Aeronautics; Senior Vice President of Corporate Shared Services; Vice President of Global Supply Chain Management; Vice President of Corporate Internal Audit; President of Lockheed Martin Systems Integration; President of Lockheed Martin Logistics Services; and President and General Manager of Kelly Aviation Center, L.P. (Lockheed Martin Corporation, 2015b). Furthermore, the author understood that all the executives of the corporation have an extensive background in Aero-space and Defense. From the Management’s Discussion and Analysis, the author was able to deduce that the executives have the capacity to lead and administer the corporation effectively (Lockheed Martin Corporation,
In 2015 the business segment Aeronautics, which includes research, development, production, support and integration services of advanced military aircraft had a turnover of circa 15.5 billion U.S. dollars. The Missiles and Fire Control segment, which includes the research, development and production of the PAC-3 missiles had a turnover of circa 6.8 billion U.S. dollars. The Rotary and Mission Systems seg-ment, which includes research, development and production of the Sikorsky military and commercial …show more content…
Department of Defence and the U.S. Federal Government agencies are the main customers of Lockheed Martin Corporation. The remaining revenue from the corporation comes from sales of hardware and services to international governments, U.S. Civil, National Aeronautics and Space Administration (NASA), U.S. Commercial and Other (Lockheed Martin, 2016d). The corporation was ranked 64th in 2015 on the Fortune 500 list of largest industrial corporations (Lockheed Martin, 2016d).
2.2. Management and Corporate Governance
It is crucial for a corporation to have an excellent Management Team that works toward the creation of value for all key stakeholders. The author believes that a corporation’s success and existence are con-nected to the Management Team’s strength to recognize the interests of all key stakeholders. This sec-tion of chapter two will give the reader an insight into the Management and Corporate Governance of Lockheed Martin Corporation.
2.2.1. Management
It is important to emphasize on the qualitative and quantitative aspects of Lockheed Martin Corporation. Evaluating the Management Team is complex, due to the intangible characteristics of the profession. In this section we focus on the qualitative aspects of the Management …show more content…
The Chairman, President and CEO of the world's largest defense contractor is Ms. Marillyn A. Hewson (Lockheed Martin, 2016d). Ms. Marillyn A. Hewson has been with the corporation for over 30 years. She served as Executive Vice President of Global Sus-tainment for Lockheed Martin Aeronautics; Senior Vice President of Corporate Shared Services; Vice President of Global Supply Chain Management; Vice President of Corporate Internal Audit; President of Lockheed Martin Systems Integration; President of Lockheed Martin Logistics Services; and President and General Manager of Kelly Aviation Center, L.P. (Lockheed Martin Corporation, 2015b). Furthermore, the author understood that all the executives of the corporation have an extensive background in Aero-space and Defense. From the Management’s Discussion and Analysis, the author was able to deduce that the executives have the capacity to lead and administer the corporation effectively (Lockheed Martin Corporation,