Background of Raytheon Company Raytheon was founded by a group of engineers in 1922. The company provides advanced and integrated technological products, services, and solutions for both domestic and international customers. Raytheon is the fourth largest aerospace and defense company in the United States with $24 billion in sales and more than 63,000 around the world (Forbes, 2017). Raytheon has been successful growing through its existing and new government contracts, as well as through mergers and acquisitions. (“Raytheon’s 10-K Report”, 2016). Raytheon is organized into four businesses based on customer’s key mission areas: Integrated Defense Systems (IDS), Intelligence, Information and Services (IIS), Raytheon Missile Systems …show more content…
2). Raytheon has several resources strengths, such as strong brand reputation, established customer space, and patents. With more than 95 years operating in the A&D industry, Raytheon has established credibility and reputation in the A&D customer communities, shareholders, and other stakeholders. From corporate social responsibility awards, to best place to work for, to customer awarded recognitions, Raytheon has won many industry-recognizable awards and accolades (“Raytheon Recognized”, 2017). Since with years of business, Raytheon has served the defense and other customers and strengthened the customer relationship over time. This is an important resource in winning and maintaining the government contracts. Additionally, Raytheon has more than 745 patents filed with the United States Patent and Trademark Office (“Raytheon’s Patents”, 2017). These resources are important for Raytheon’s ability to create technologically advanced and cost effective products, services, and solutions for the customer and to satisfy the shareholders’ expectation.
Capabilities: Schmitz (2012) refers to capabilities as “what the organization can do” to effectively utilize its resources. Some examples of Raytheon’s capabilities are Raytheon’s Six Sigma progress, integrated supply chain management, and a variety of technological capabilities. Raytheon’s Six Sigma is “a disciplined, knowledge-based approach designed to increase
General Dynamics (GD) has realized a long-standing history of success delivering product and service solutions since being formed in 1952. They have purposely divested themselves of technology, product and service offerings in an effort to remain focused on their core competencies and primary customer; the United States Department of Defense. While GD’s primary customer remains the DoD, they have diversified their offerings to adjacent markets within the DoD (e.g, Information Technology and Cybersecurity solutions). GD has also
The Fortune 500 Company chosen for this paper is the Lockheed Martin Corporation. Lockheed Martin is a global securities and information technology company headquartered in Bethesda, MD. Lockheed Martin employs roughly 126,000 people in several facilities throughout the world. The company's main business is in research, design, development, manufacturing, integration and sustainment of advanced technology systems, products and services. Lockheed consists of four operating units, or business areas, which consist of Aeronautics, Electronic Systems, Information Systems and Global Solutions, and Space Systems (LMC, 2011).
The challenges faced by Nucleon, Inc. present more of an issue with how to take full advantage of an opportunity in front of them, rather than a problem that poses a threat to the company. As a company in its early stages, only putting out its first product, it is critical that it is done in a manner that allows the budding firm to grow. The main issue here is determining the most effective means by which they are to manufacture and market their first product, CRP-1. Doing so requires in-depth evaluation of three strategic options, all with their own benefits and potential risks. The problem statement, therefore, is as follows:
Market Leading Position. Lockheed Martin is the world’s leader in combat and logistical aircraft, anti-missile systems, maritime surveillance and recon systems, space systems, and unmanned aircraft. In conjunction with providing systems they are also the largest supplier of IT services, system integration, and training to the United States Government. They have
Northrop Grumman is primarily involved in four related by also distinct industries which are also their core competencies. They are involved in aerospace systems, electrical systems, information systems and technology systems. Involvement in these key areas allows them to focus on their customers’ needs for unmanned air systems; command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR); logistics, and cyber security.
A great competitive advantage in the industry will be to have an integrated enterprise that is capable of R&D and large scale commercial manufacturing. In this context, Nucleon’s long term strategic goal should be to gain this competitive advantage by continuing to leverage its existing R&D competencies along with acquiring in-house manufacturing
The analysis of Lockheed Martin and it’s affect on stakeholders. Corporations have impacts on a variety of people ranging from shareholders, to governments, to ordinary citizens. This paper analyzes the impact Lockheed Martin has on all stakeholders, both positive and negative.
Today, the Lockheed Martin Corporation is headquartered in Bethesda, Maryland and employs 126,000 people worldwide. The company is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems. Lockheed also serves both domestic and international customers with products and services that have defense, civil, and commercial applications, with their principal customers being agencies of the U.S. Government. In 2011, 84% of their $45.8 billion in net sales were made to the U.S. Government, either as a prime contractor or as a subcontractor. Lockheed’s U.S. Government sales were made to both Department of Defense (DoD) and non-DoD agencies. Sales to foreign governments (including foreign military sales funded, in whole or in part, by the U.S. Government) amounted to 15% of net sales in 2011. The remainder of net sales was attributable to commercial and other customers. In 2011, net sales at Aeronautics of $13.2 billion represented 29% of their total net sales. Aeronautics has three principal lines of business and the percentage that each contributed to its 2011 net sales was 68 percent combat aircraft, 20 percent air mobility, and 12 percent in other aeronautics programs. At December 31, 2011, we operated in 545 locations (including offices, manufacturing plants, warehouses,
Capabilities refer to a firm’s skill in using its resources to create goods and services. During the 1970s and 1980s, Westlake lanes hosted a steady stream of family bowlers and birthday parties. Mr. Sugar also cultivated popular bowling leagues, 32 weeks in duration, for his Raleigh friends and neighbours. However, the capabilities of Westlake lanes can be described as a commodity that can be readily found.
For a business to be successful and have a competitive advantage, it is important to evaluate the company’s resources and capabilities (Pitt & Koufopoulos, 2012). Resources in a company are the productive assets owned (tangible or intangible) whereas capabilities are what the company can do with this (Grant, 2010). “Establishing competitive
Lockheed Martin is a leading security and defense company based in Bethesda, MD with operations that span the globe. Lockheed Martin experienced a positive turnaround under new CEO Robert Stevens’ leadership, and is now entrenched as a leading competitor in the Aerospace and Defense (A&D) industry. They maintain an extensive business portfolio and continue to increase shareholder value. However, recent issues with contract mismanagement and cost overruns involving the government F-35 program leave a negative outlook on their operations. They also face increasing pressure to acquire and retain key employees from a diminishing talent pool. Government budget cuts threaten to hurt revenues, thus making it important for
This strategy emphasizes the use of an organization’s resources and capabilities to achieve a core competence that cannot be imitated by competitors. Furthermore, the resource based school argues that if an organization distinctively improves its internal capability; that is being able to have effective inside machinery to deliver products and services to customers, the organization will enjoy a massive advantage in the market. This school also argues that in order to have a competitive advantage, an organization must have resource and capabilities that are sophisticated to those of competitors (QuickMBA,
Lockheed Martin is a major security and aerospace company headquartered in Bethesda, Maryland. Employing over 97,000 employees worldwide, Lockheed Martin is principally focused on research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services (Lockheed Martin at a Glance, n.d.). Lockheed Martin is organized into broad business areas to include aeronautics ($17.8 billion in 2016 sales), missile and fire control (6.6 billion in 2016 sales), rotary and mission systems (13.5 billion in 2016 sales), and space systems (9.4 billion in 2016 sales) (Lockheed Martin at a Glance, n.d.). To better understand the global giant that is today’s Lockheed Martin, a historical look at the two companies that merged in 1995 and their respective accomplishments is essential.
As we look at these companies, we can see that a lot goes into operations behind the service and goods we receive as consumers. The way a company designs its operating system is crucial for success. The input, operations, and output are only a part of what is contributed. It is the materials management, the flow of how things are ran that really makes or breaks the backbone of a business. The way the systems are designed will give one company an advantage over another. Using materials management effectively and really going into detail about research will give a company more of an advantage than another. It will help a business increase its productivity, innovation,
Capabilities mean how the company mixes and utilizes all assets to bring the best product offered. These capabilities summarize in company 4Ps, which are listed as below: