Lockheed Martin Corporation Essay Example | Topics and Well Written Essays - 1750 words

Lockheed Martin Corporation - Essay ExampleThe operations of the heap are divided into different segments comprising electronic systems (27%), aeronautics (27%), learning systems and global solutions (27%) and space systems (19%). Today, US government contracts account for much of the deals revenue while foreign government contracts also make up a substantial share of the revenue. On the other hand, orders from commercial clients only make up a mere 2 % of the total revenue the corporation nets in a year. In 1996, the corporation finalized the plans to acquire Lorad Corporation which subsequently became snap off of the Corporation at a cost of $9.1 billion. Like any other global corporation engaging thousands of employees across the world, Lockheed is certainly faced with a myriad of challenges that normally define business operations in the present world. integrity of the greatest challenges facing the corporation is the need to address employee concerns and effectively tackle the aspects of employee and industrial relations without many problems like is always the case. On certain instances the corporation has had to face the challenge of striking workers and go slow as employees complained about various aspects relating to their operations in the organization (Terris, 2010). In that regard, the aspect of dealing with these employee concerns has been hotshot of the greatest employee challenges affecting the organization. Like most workers in the industry, most of Lockheeds workers are nubized under the International Association of Machinists and Aerospace workers and are always part and parcel of the activities steered by the association. The International Association of Machinists and Aerospace Workers is a worker organization which draws its origin in 1888 when a group of nineteen machinists came together and formed the put together of the United Machinists and Mechanical Engineers. With time, the small organization grew up in membership and adopte d the present name. The organization has had a turbulent history characterized by the development of labor movements in the twentieth century. The growth of the union went in tandem with the development of the transport industry throughout the years as much and more workers became employed in the industry. During its formation, the organization was generally a secret affair given that employers of the time were very critical and hostile toward organized labor movements. However, the range rapidly spread beyond its formation zone of Georgia and was soon a dod affair in the United States. Much of the growth in the membership of the union was mostly evidenced during the World Wars when workers in the transport industry increased owing to the increased demand of vehicles and airplanes. In the course of the 1970s, the union was segmented into several divisions dealing with specific issues affecting the members. These included civil right, organizing, older workers and retired workers and women. At a convection held in 1984 in Seattle, Washington, the delegates voted and decided to use the unflustered Harbor Education Center in order to train and educate the members of the union. In 1998, the center was renamed to the Winpisinger Education and Technology Center in order to recognize and honor the late President of the union. Throughout history, the union has always addressed the issues affecting