Organizational Planning
MGT/521
Organizational Planning
Lockheed Martin has been a founder in defense technologies for the United States government for decades. The work they do for the state is so vast that, “Lockheed Martin is the largest provider of IT services, systems integration, and training to the U.S. Government” (LMT, 2014). Currently listed at number 59 on the Fortune 500 list, Lockheed Martin Corporation (hereafter referred to as LMC) trades at the highest value of its competitors (CNN, 2014). An established business, LMC, has a proven business strategy that has kept it a premier defense contractor for the United States. LMC has a long, storied history of success. The humble beginnings of a church and a garage have propelled this company to make some amazing aircraft, and become a pioneer in aerospace technology (LMT, 2014). The SWOT analysis for this company places its threats as very real problems but shows a solid foundation in the strengths. The company needs to look at its weaknesses and find ways to eliminate them, then focus on the opportunities as they emerge.
Based on the SWOT analysis, the best fitting strategic plan for the business to achieve its goals of reduced carbon footprint is continuing to reduce emissions by finding alternative sources of power as the Ocean Thermal Energy Conversion (OTEC). OTEC uses the ocean's natural thermal gradient to generate power. On an average day, 60 million square kilometers of tropical seas absorb an amount of solar radiation equivalent to the energy produced by approximately 250 billion barrels of oil (LMC, 2013). The company has dedicated assists to fund this adventurous project to maintain its future in the alternative energy business. Investing in alternative energy helps diversify the business' portfolio and creates a new wave of contracts to drive sales growth well into the future. The increased sales will help offset the high indebtedness of the business.
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