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Understand the principles of strategic planning
Strategic management process
Strategic management process
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Mission, Vision, and Values Paper Introduction I am considering the company I work for Lockheed Martin to develop a modified strategic plan that will focus on responding to the United States government's and Department of Defense's (DoD) new "Network Centricâ initiatives. Lockheed Martin's Corp. is a publicly traded private corporation that provides high technology products and services to the United States government, DoD, and other international governments. Lockheed Martin is the largest defense contractor in the US with a branding statement "Our brand means qualityâ and a company slogan of "We never forget who we work forâ. Lockheed Martin supplies equipment and services to almost every branch of the United States government, from fingerprint recognition systems for the FBI, satellites and launch services to all branches of the DOD, NASA, NSA and computer systems for air traffic control to the FAA, road traffic signal control systems in most large cities across the United States and even population census counting systems. These are the current Lockheed Martin Corporation's: Vision Statement: Powered by Innovation, Guided by Integrity, We Help Our Customers Achieve Their Most Challenging Goals. Value Statements: Do What's Right: We are committed to the highest standards of ethical conduct in all that we do. We believe that honesty and integrity engender trust, which is the cornerstone of our business. We abide by the laws of the United States and other countries in which we do business, we strive to be good citizens and we take responsibility for our actions. Respect Others: We recognize that our success as an enterprise depends on the talent, skills and expertise of our people and our ability to function as a tightly integrated team. We appreciate our diversity and believe that respect - for our colleagues, customers, partners, and all those with whom we interact - is an essential element of all positive and productive business relationships. Perform With Excellence: We understand the importance of our missions and the trust our customers place in us. With this in mind, we strive to excel in every aspect of our business and approach every challenge with a determination to succeed. Mission Statement Lockheed Martin is a diversified technology company serving the needs of United States government, military and selected international customers. The current mission, vision, and value statements are written very broadly to provide the five divisions within the company with an overall direction and strategy. Each division then interprets the strategy and goals to develop operational processes, procedures, tactics and plans to implement and achieve those goals.
Riordan has identified criteria in four areas that define the company’s mission statement. First, the company focus is to have attitudes and abilities that exceed industry standards to provide solutions for customer’s challenges and lead the industry in Research and Development. Second, the mission for customer relationships is to be a solution for the customer, maintain quality, innovation, and customer service at a reasonable price. Third, to ensure the long-term viability of the company, the mission to the employees is to have an innovative and team oriented working environment, in addition to keeping the employees informed and supported. Lastly, the future of the company depends on maintaining profitability to allow growth in the company (Apollo Group, 2004).
The company takes great effort in nurturing and developing all of its employees in its quest for delivering superior customer service to its patrons.
“We solve complex challenges, advance scientific discovery, and deliver innovative solutions to help our customers keep people safe.” (Corporation, 2016) This is the mission statement for Lockheed Martin Corporation, Founded in 1995 and now run by Marillyn A. Hewson CEO of Lockheed Marin. A company that lives up to their Mission statement. Developing revolutionary technology for aircraft like the SR71, Building Autonomous Underwater Vehicle (AUV) to effectively and efficiently inspect and salvage oil rigs and pipelines. And creating alternative storage sources for energy is what makes Lockheed Martin one of the leaders in innovations, development, and advanced scientific discovery.
We have a commitment to excellence will prove to our clients that we are in it to
Our commitment to steady, long-term improvement in our products and processes is the cornerstone of our business strategy. To achieve this objective, we must work to continuously improve the overall quality of our design, manufacturing, administrative, and support organizations.
Service: They approach the clients’ challenges with enthusiasm and diligence, building long-term relationships by connecting the right people, capital and opportunities.
Our core operating values are built on the foundation of reliability, integrity and professionalism. These advantages are what have given us great advantages over our competitors.
On the Lockheed Martin website you can find their mission statement, their vision and their values.
This organization seems to understand the communities in which they support and the demand in providing a quality product. Their mission scope and statement are strong and they definitely believe in their customers. With the 3-word concept listed below shows how the leadership and employee’s have been trained and guided to believe in the product, organization, and the community that they serve.
3. We endeavor to be dedicated, disciplined and loyal, providing consistent value and great service to all the clients.
We encourage collaboration and gain commitment by involving the team in decision making by creating excitement around common goals. We believe our strength and success lies in our approach to build collaborative relationships that create new success for our customers.
“Our vision is to be earth 's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”
To be our customers’ first choice in every market we serve by exceeding commitments, providing new technology solutions, leveraging our diverse brands, driving operational excellence, and committing to the highest standards of business practices - all of which will drive Tyco’s long-term growth, value and success (Tyco, 2011, Mission & Goals, para. 1).
They strive to understand our customer’s needs and wants to deliver products and services that fulfill and exceed all their requirements.
Vision and mission statements play a vital role in the strategic planning of an organization. Aguinis (2013) states defining an organization’s current and future identity are a key component of the strategic planning process. Strategic planning creates a blueprint to chart an organization’s goals and to aid in the division of resources to properly achieve the established goals (Aguinis, 2013). Properly communicating the goals and identity of an organization are essential if employees are to completely understand their purpose and mission to the organization. A review of the vision and mission statements for Harley Davidson reflects certain insights into the identity of the organization but also reflects some areas of improvement in adequately including the eight characteristics of an ideal mission statement.