Stevens continues lockheed martin''s diversity initiatives

Assignment Help Accounting Basics
Reference no: EM131069671


Robert Stevens Continues Lockheed Martin's Diversity Initiatives

Lockheed Martin, a highly diversified, advanced technology multinational corporation with approximately $41.9 billion in annualized sales and approximately 140,000 employees worldwide, has one of the most successful diversity programs in the nation today. Lockheed Martin's varied businesses are organized into four broad strategic business units (SBUs): Aeronautics, Electronic Systems, Integrated Systems & Global Solutions, and Space Systems. Vance Coffman served as chairman of Lockheed Martin from 1998 to 2004. Coffman was replaced by Robert Stevens in August 2004. Prior to becoming CEO, Stevens served as Lockheed Martin's president and chief operating officer. He has also served as the corporation's chief financial officer, among other key positions. Coffman is most admired for his efforts at creating a work environment that fosters greater awareness and sensitivity to the needs of Lockheed's diverse employee population. These efforts include crafting a "mission success" statement that clearly delineates the corporation's commitment to diversity, and hiring executives with the skills and commitment to implement the corporation's diversity initiatives. Lockheed Martin's core values in its mission statement are ethics, excellence, "can-do," integrity, people, and teamwork. On people, Lockheed maintains that it will "embrace lifelong learning . . . combined with company-sponsored education and development programs." On teamwork, it will "multiply the creativity, talents, and contributions of . . . by focusing on team goals." Teams will "assume collective responsibility for . . . share trust and leadership, embrace diversity, and accept responsibility for prudent risk-taking." It is clear from the speeches and comments of Stevens that he intends to continue right where Coffman left off. Upon receiving the "Executive of the Year" award from the National Management Association in November 2004, Stevens laid out what Lockheed Martin was looking for in its leaders as follows: At Lockheed Martin, we want: . . . highly principled and ethical people who place a high priority on honesty and integrity, both in their personal and professional lives . . . advocates for diversity who actively foster an inclusive environment where individual respect and teamwork matters . . . disciplined hard workers who are fearless in their pursuit of excellence and who demonstrate great pride and loyalty toward their organization . . . "whole-system creative thinkers" who can pursue innovation, get to the root of a challenge, and commit themselves to the process of life-long learning . . . and valued colleagues who possess humor, humility, and common sense. At Lockheed Martin, the belief is that to attract the best of the best, the corporation must include all segments of the population. In this respect, the corporation's Equal Opportunity Office (EOO) has created a Workforce Diversity Initiative that provides guidelines for implementing diversity programs at the strategic business unit levels. The EOO is set up to provide information to Lockheed Martin's SBUs on how to achieve diversity. Many Lockheed Martin companies have diversity departments charged with ensuring, among other things, that their companies are flexible enough to meet the needs of all employees. A number of Lockheed Martin companies have enhanced their diversity efforts by creating employee councils that serve as the conduits to carry concerns from employees to the councils and from the councils to management. The councils, all of which work on a volunteer basis, carry out the goals and programs suggested by the diversity department and by fellow employees. Another diversity initiative of Lockheed Martin has been the creation of employee networks. The following affinity groups were established by employees to foster career development and upward mobility through education, training and mentoring programs for employees in minority groups: the African American Mentoring and Information Network; the Gay, Lesbian, or Bisexual at Lockheed Martin (GLOBAL) Organization; the Asian American and Pacific-Islander American Lockheed Martin Association (ALMA); Lockheed Martin Employees with Disability; and the Lockheed Martin Latino Mentoring Network. Minority-based social networks such as these are important because they tailor their training and mentoring to the specific issues of a particular subculture. Lockheed Martin has also actively advocated community outreach, which allows employees of the corporation to work with the community. Several community programs are sponsored by Lockheed. In Baltimore, teachers from around the country explore new, active, collaborative, and project-centered practices that bring math and science to life for kids. In Dallas, a special resource center gives indigent patients the care and guidance they might otherwise never receive; and in classrooms around the globe, students experience the thrill of space through virtual field trips and exciting hands-on activities. From educational opportunities to career placement to leadership training, Lockheed Martin has made it a priority to reach students from underrepresented groups. Helping to advance minority youth participation in the fields of math, science, and technology is a corporatewide effort. Lockheed Martin awards scholarships to minority students, and sponsors and participates in local and national conferences, such as the Emerald Honors Conference, the Black Engineer of the Year Awards Conference, the Asian American Engineer of the Year Awards, the Hispanic Engineer National Achievement Awards, and Women in Aerospace. Lockheed Martin's Math, Engineering, and Science Achievement (MESA) grants are aimed at developing academic and leadership skills, raising educational expectation, and instilling confidence in the nation's African-American, American Indian, Mexican-American, and Latino-American students within the fields of engineering, physical science, and other math-based fields. Its "INROADS" program develops and places talented minority students in business and industry, and prepares them for corporate and community leadership. Diversity managers and volunteers at companies throughout Lockheed Martin take different approaches to assessing how big a role their diversity initiatives have played in helping current employees feel at home. One of the most quantifiable approaches for self-evaluation is the Diversity Progress Index, which measures improvements in diversity over time. The index, which was first piloted in 1997, evaluates a department's approach to advocacy, assessment, planning, and implementation--as they relate to diversity. The index also allows a department to evaluate the role diversity has played in its business success. Outstanding performers are honored with the prestigious President's Diversity Awards. Because of strong leadership from Robert Stevens and his executive team and a highly motivated and committed group of managers, Lockheed Martin has received national attention and recognition for its diversity efforts. In 2005 alone, Lockheed Martin received the following recognitions:

  • Sustained membership in the "Billion Dollar Roundtable" (BDR). Sponsored by Minority Business News and Women's Enterprise Magazine, the BDR recognizes companies that achieve annual spending of at least $1 billion with minority and women-owned suppliers.
  • Voted #1 by readers of Woman Engineer magazine as the place they would most like to work or they believe provides the best working environment for women.
  • Listed as one of the top ten employers for African-American College Graduates by The Black Collegian.
  • Ranked #1 for the "Top Corporate Supporter of Historically Black Colleges and Universities".
  • Ranked #1 for the "Top Corporate Supporter of the Hispanic Serving Institutions Engineering".
  • Listed as one of the "Best Places to Work" by Baltimore magazine.
  • Voted #5 by readers of Minority Engineering magazine in "Top 50 Companies".
  • Ranked #5 on the Top 100 list by Training Magazine. Lockheed is in the top ten among the national elite of corporate training.

Lockheed Martin is the true embodiment of a company with a high-performance culture and a well-managed diversity program. Diversity at Lockheed Martin is an institutionalized concept, not just a principle on paper. GO TO THE INTERNET: To learn more about Lockheed Martin, visit its Web site ( Support your answers to the following questions with specific information from the case and text or with other information you get from the Web or other sources.

1. Would you say Lockheed Martin Corporation has a low- or high-performance culture? Support your answer with evidence from the case.

2. In what ways has Lockheed Martin taken a proactive approach toward supporting and encouraging diversity?

3. Based on the discussion of leadership actions that can help shape culture (see Exhibit 10.3 on page 379), what leadership actions has Lockheed Martin employed in shaping the corporation's culture?


4. The self-managed team concept deals with the transfer of authority and responsibility to autonomous teams of employees who are responsible for complete, well-defined tasks that relate either to a final product or service or an ongoing process (Chapter 8). In your opinion, do you think the self-managed team structure can be used to implement Lockheed Martin's diversity initiatives? Support your answer.

5. Transformational versus transactional leadership describes two leadership styles commonly associated with senior leaders of corporations (Chapter 9). Which of these types of leadership do you think Robert Stevens represents? Support your answer. CAS E EX E R C IS E AN D RO LE -P LAY Preparation: Put yourself in Robert Stevens's position. You have been invited to make a special appearance at a ceremonial event honoring departments that have achieved the highest score on the Diversity Progress Index. Honorees will receive the President's Diversity Award. Develop an inspirational speech highlighting the value of diversity to your corporation and why it is necessary to continue the effort toward greater diversity. Your instructor may elect to form groups to share ideas and develop the speech. Groups should select one leader to present the speech to the entire class. Role-Play: One student (representing themselves or their group) may give the speech to the entire class. Use information from this chapter on diversity for input.

Reference no: EM131069671

Questions Cloud

Determine the graphical display tool : Determine the graphical display tool (e.g., Interaction Effects Chart, Scatter Chart, etc.) that you would use to present the results of the DOE that you conducted in Question 1. Provide a rationale for your response
Develop a business plan for durango manufacturing company : Create an argument that you will present to the CEO that suggests accounting and financial management knowledge and skills will be essential to the company's success and stability over the next five (5) years.
Discuss how possible effects of crack tip plasticity : Discuss how possible effects of crack tip plasticity (under conditions of plane strain and small-scale yielding) would modify the predictions of the model for fatigue crack deflection, Eqs. 14.23 and 14.24. (Hint: See the discussion in Section 9.1..
Explain in some detail how a router works : Explain in some detail how a router works, and how it affects security. Define what a protocol is and identify the specific responsibilities of the communication protocol. What is the purpose of communication protocols?
Stevens continues lockheed martin''s diversity initiatives : Lockheed Martin, a highly diversified, advanced technology multinational corporation with approximately $41.9 billion in annualized sales and approximately 140,000 employees worldwide, has one of the most successful diversity programs in the natio..
Current printer models : Many businesses want to purchase a printer that can reduce costs and improve workflow, and consider purchasing a multifunction printer. Which additional factors do you think a budget-minded business should consider when purchasing a multifunction ..
What are the two key physical features of the ichip device : What are the two key physical features of the iChip device, and what is the function of each of these features? And, what is the purpose of the iChip device?
Review each of the four components of the revenue cycle : Review each of the four components of the revenue cycle (Preclaims, Claims, Accounts Receivable, and Claims, reconciliation and collections) and identify a key staff member involved in each of the four components.
Predict the variation of da/dn with ?k for the heat-treated : Repeat the calculations in (a) by considering crack closure due to fracture surface mismatch with the mismatch factor, x - 0.1 and 0.25


Write a Review


Accounting Basics Questions & Answers

  Employee education and training

The county appropriated $12,000 for employee education and training. The department signed contracts with outside consultants to conduct accounting and auditing workshops. Total cost was $10,000.

  Prepare the manufacturing overhead budget for the year

atlanta company is preparing its manufacturing overhead budget for 2014. relevant data consist of the following.units

  Tavella company''s first weekly pay period

Tavella Company's first weekly pay period of the year ends on January 8.

  Calculate the combined pre-determined oh rate

Calculate the combined pre-determined OH rate using (1) units of production (2) machine hours: 40,000 machine hours, variable mfg OH $80,000, Fixed mfg OH $325,000. The company expects to produce 10,000 units and each product requires 4 hours of m..

  Sep 30 garrett is party to a lawsuit for copyright

the following transactions of brooks garrett occurred during 2012 apr 30 garrett is party to a patent infringement

  Problem regarding the result of the application

(1) Obtain the sample space of all possible outcomes. (2) De?ne a random variable X as the sum of numbers that show up on the two dice; obtain the new space V arising as a result of the application of this random variable.

  What is the minimum amount that the company should pay

What is the minimum amount that the company should pay in order to achieve its objectives - Buckskin also has had 100,000 shares of $10 par value common stock issued and outstanding since 1998.

  Accounts payable what are the steps involved in

what are the steps involved in finalization? when working in the accounts payable department. please explain each

  Compute gross profit earned by the company for each of the

anthony company uses a perpetual inventory system. it entered into the following purchases and sales transactions for

  What is the oil price within the 35 to 70 per barrel range

an oil and gas investor is considering the acquisition of two fields. both fields have the same production profiles

  Fenwick corporations manufacturing and finished goods

fenwick corporations manufacturing and finished goods warehouse facilities burned to the ground on january 31. the

  The purpose of a corporate annual report is to communicate

the purpose of a corporate annual report is to communicate to stockholders and other interested parties its financial

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd