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INNOVATION

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Innovation is defined as, “Introduction of a new idea into the marketplace in the form of a new product or service, or an improvement in organization or process (www.4hb.com).” Lockheed Martin strives to be at the forefront of innovative technologies. Since Lockheed functions as a primary source of information for the U.S. Government, several government agencies, as well as many foreign governments, it is critical to Lockheed Martin’s success that they stay ahead of emerging markets and understand where technology and technology of information and processes will be heading next. This paper will discuss innovation and its changes, how technology affects innovation processes, and factors that can affect innovation within Lockheed Martin.
“The main driver for innovation is often the courage and energy to better the world. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al) (www.wikipedia.org).” Although many people would like to believe the statement that the main driver for innovation is to better the world, there are many others who would disagree. Within Lockheed Martin Corporation, there are two main drivers for innovation. The first is the customers of Lockheed Martin and the second is profitability. Lockheed Martin focuses on customer service. The core competency for Lockheed ...
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