PRINCIPLES OF MANAGEMENT APPLIED RESEARCH

Lockheed Martin

XXXXXXXXXXXXXXX

Professor XXXXXXXXXXXXX

Park University Internet Campus

A course paper presented to the School of Arts and Sciences and Distance Learning

In partial fulfillment of the requirements for the degree of

Baccalaureate

Principles of Management

Park University

April 2010

TABLE OF CONTENTS

Page

Introduction……………………………………………………………………………….. 3

Body……………………………………………………………………………………….. 3

Diversity Management…………………………………………………………….. 5 Ethical, Social, and Legal Responsibilities………………………………………... 6 International Business……………………………………………………………....7 General Planning and Strategic Planning………………………………………......8 Organizing Work and Synergism…………………………………………………...8 Organization Structure and Chart…………………………………………………..9 Work Team Utilization……………………………………………………………..10 Staffing……………………………………………………………………………..10 Employment Training and Development………………………………………......11 Motivating Employees……………………………………………………………..11 Leadership and Management………………………………………………………12 Managing Conflict and Stress……………………………………………………...13

Managing Change………………………………………………………………….13 Controlling…………………………………………………………………………14 Appraising and Rewarding…………………………………………………………14 Operations Management and Plans………………………………………………...15 Operations Control…………………………………………………………………15

Conclusion………………………………………………………………………….16

References…………………………………………………………………………..17

Introduction

Say the name Lockheed Martin to the average person on the street and you will probably receive a blank stare. Say the name to the courageous Air Force pilot who flies the F-16 Fighting Falcon and you will probably receive a great big smile. He smiles because he knows that Lockheed Martin (LM), the largest defense contractor in the world, manufactures that F-16 fighter jet. It is a name that is well known throughout the world’s military forces. The company provides numerous services and manufactures dozens of war crafts for the Department of Defense and has done so for many years. This Fortune 500 Company has capitalized on quality of product and customer satisfaction. This research paper will examine the other management techniques used by the company’s leaders that put them atop of their industry.
Lockheed & Martin
With history dating as far back as 1913, Lockheed Corporation was founded by Malcolm, Allan and Victor Loughead. All three brothers had a love for aviation and in 1912 built a single engine airplane they called the Model G. The craft was not successful but the brothers persevered and in 1916 with help from outside contributors formed the Loughead Aircraft Manufacturing Company (Miller,1995). The end of World War 2 also saw the end of the Santa Barbara company in 1921. Several years later in 1926 the brothers convinced investors to once again finance a second company. This time they changed the name of the company from Loughhead to the phonically pleasing Lockheed in an effort to squelch mispronunciations of the family name. The company was highly successful. This success caught the attention of bigger companies and in 1929 was bought out by a Detroit Aircraft subsidiary. The brothers moved on to other things and it was not until 30 years later in 1969 that another Loughead brother worked directly with the company that he helped formed. Over the next three decades the company’s ownership changed a few more times but it would go on to earn an incomparable reputation within the aviation industry (Miller,1995). Glen Martin began building experimental gliders in the hills of Santa Ana California shortly after moving his family there in 1905. Shortly afterwards he built his first airplane factory and hired a man by the name of Donald Douglas to help develop designs for new planes. The two continued to work together until Douglas was called to Washington to help the Army with its aerial capabilities. He eventually went back to work for