Lockheed Martin

Definition

Lockheed Martin is a global aerospace, defense, and security company formed from the merger of Lockheed Corporation and Martin Marietta in 1995. It plays a critical role in the history of intrapreneurship by fostering innovation within its vast organizational structure, encouraging employees to pursue entrepreneurial initiatives that lead to groundbreaking technologies and advancements in military and civilian sectors.

5 Must Know Facts For Your Next Test

1. Lockheed Martin is one of the largest defense contractors in the world, heavily influencing military technology advancements.
2. The company has a long history of successful projects like the F-22 Raptor and the Mars rover missions, showcasing its innovation capabilities.
3. Lockheed Martin invests heavily in research and development, allocating billions annually to foster new ideas and technologies.
4. The company encourages a culture of intrapreneurship by supporting internal teams in developing new solutions that can lead to commercial products.
5. Lockheed Martin has partnerships with various government agencies and private sector firms to enhance its innovation ecosystem.

Review Questions

• How has Lockheed Martin's structure supported intrapreneurship and innovation within the company?
  • Lockheed Martin's organizational structure promotes intrapreneurship by providing employees with the resources and freedom to pursue innovative projects. The company actively encourages its workforce to leverage their expertise and creativity to develop new technologies. This culture of innovation has led to significant advancements in aerospace and defense systems, demonstrating how a supportive environment can yield groundbreaking results.
• Discuss the role of Lockheed Martin in shaping modern aerospace technology through intrapreneurship.
  • Lockheed Martin has played a pivotal role in advancing aerospace technology by fostering an intrapreneurial environment that allows employees to experiment and innovate. Projects such as the development of stealth technology and advanced avionics systems have emerged from this culture. By encouraging teams to take calculated risks and think outside conventional frameworks, Lockheed Martin remains at the forefront of technological advancements in both military and commercial aviation.
• Evaluate how Lockheed Martin's approach to intrapreneurship reflects broader trends in the defense industry.
  • Lockheed Martin's approach to intrapreneurship exemplifies a significant trend within the defense industry towards innovation-driven growth. As threats evolve, companies must adapt quickly, which requires a mindset that values rapid prototyping and agile project management. Lockheed Martin’s investment in R&D and commitment to nurturing entrepreneurial initiatives reflect a shift away from traditional hierarchical models towards more dynamic practices that embrace change and prioritize technological advancement. This evolution not only enhances national security but also positions Lockheed Martin as a leader in a competitive global market.

Related terms

Intrapreneurship:

A practice where employees act like entrepreneurs within a company, taking initiative to innovate and drive new projects while leveraging the company's resources.

Defense Industry: The sector of the economy that focuses on producing goods and services for military purposes, including weapons, technology, and support services.

Aerospace Technology: The branch of technology involved in the design, development, and production of aircraft, spacecraft, satellites, and related systems and equipment.