Lockheed Martin is driven by its customers, it is a global enterprise that focuses on research, design, development, manufacture, and integration of advanced technology systems, products, and services for government and commercial customers. Lockheed Martin strives to meet the demands and expectations of its customers. Lockheed Martin is a leader when dealing with new systems "based possibilities and opportunities. According to Hoovers Online, the aerospace and defense industry is struggling to maintain profitability even before September 11 (Hoover's Online, 2002). Furthermore these terrorist attacks have had a direct affect on the aerospace and defense industry, accelerating some trends, while reversing others. The defense market accounts for about 50% of the aerospace and defense industry's sales in 2000, but it is anticipated to increase as a result of the war on terrorism. According to Hoover's Online (2002), the president is proposing a 15% increase for the US department of Defense's budget. This trend will benefit Lockheed Martin as well as other large companies that dominate the aerospace and defense market. In 2001 Lockheed beat out Boeing for the $200 billion contract to build the Joint Strike Fighter, the largest defense contract ever. According to Hoover's Online (2002), the contract is spread out over thirty years.
Mission Statement: .
According to Barney, a strategic mission is a statement of a firm's unique purpose and the scope of its operations in product and market terms (Dyer, 1996). A strategic mission provides general descriptions of the products a firm intends to produce and the markets it will serve using its internally based core competencies (Dyer, 1996). All these factors considered Lockheed Martin's vision is to be the worlds best integrator in aerospace, defense, and technology services; to be the company the nation and its allies trust to integrate their largest, the most complex, most important advanced technology systems.