netrashetty
Netra Shetty
Lockheed Martin (NYSE: LMT) is a United States aerospace, defense, security, and advanced technology company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in Bethesda, Maryland, in the Washington Metropolitan Area. Lockheed Martin employs 140,000 people worldwide. Robert J. Stevens is the current Chairman, President, and Chief Executive Officer.
Lockheed Martin is among the very largest defense contractors in the world, and in 2008 70% of Lockheed Martin's revenues came from military sales.[1] It "receives one of every 14 dollars doled out by the Pentagon."[2]
Lockheed Martin operates in four business segments. These comprise, with respective percentages of 2009 total net sales of $45.2 bn, Aeronautics (27%), Electronic Systems (27%), Information Systems & Global Services (27%), and Space Systems (19%). In 2009 US Government contracts accounted for $38.4 bn (85%), foreign government contracts $5.8 bn (13%), and commercial and other contracts $0.9 bn (2%).[3] In both 2009 and 2008 the company topped the list of US Federal Contractors.
The company has received the Collier Trophy twice – in 2001 for being part of developing the X-35/F-35B LiftFan Propulsion System,[4][5][6] and again in 2006 for leading the team that developed the F-22 Raptor fighter jet.'
Education and Skill Profile of Workforce
The educational and skill profile of existing workforce in India is very poor and primarily responsible for its low productivity. Though enrolments in academic institutions are significant, more than 90 percent in primary classes, around 60 percent in middle classes, more than 30 percent in higher secondary and above 10 percent in higher education, yet percentage of people having marketable skills is woefully low. As per National Sample Survey on employment and unemployment (1993-94), only 10.1 percent of male workers and 6.3 percent of female workers possessed specific marketable skills. The percentages were marginally higher in urban areas.
The levels of vocational skills of labour force in India compare poorly with other countries. Only 5 percent of the Indian labour force in the age group 20-24 had vocational training compared to 96 percent in Korea and varying between 60-80 percent in industrial countries. This points out to the fact that education system in India is excessively oriented towards general academic education with little or no vocational orientation.
Work participation rates by levels of education in Figure 4 shows that participation rate increases with the level of education. At the same time non-workers seeking work or available for work also increases by level of education. More graduates and people with technical diploma or certificates are seeking or available for work than those with below metric qualifications.
Issues: Motivation, Compensation, and Conflict
The issue of motivation and compensation was manifested in news articles and research studies conducted stating that Wal-Mart has low wages and sparse benefits package. With this, the management needs to restudy and focus the competitiveness of their offers that will lead to further motivation and productivity of their workforce. As with organization, “people are the most valuable asset”, employee satisfaction – ensured through proper motivation and compensation – must be carefully considered by the HR team. This must be done to retain good staff and to encourage them to give of their best while at work requires attention to the financial and psychological and even physiological rewards offered by the organization.
Basic financial rewards and conditions of service are determined by national bargaining or government minimum wage legislation such as the Employment Relations Act (2004) or by collective bargaining with labor unions. Details of conditions of service are often more important than the basics (Sims, 2002). Hence, financial and other motivations must constantly be evaluated and improved to ensure employee satisfaction. According to the expectancy theory, employees expect and need to be rewarded according to the work they do, and will help them to develop their capability, help them to work up to a higher level so that they can be better rewarded. Employees expect organizations to have compensation systems that they perceive as being fair and commensurate with their skills and expectations (Sims, 2002). The compensation may, in some cases, act as employee motivators. These compensations that employees receive may be value-added compensation including direct compensation, such as salary, incentives and commissions; and indirect compensation, such as insurance benefits, employee recognition programs, flexible work hours, and vacation benefits. In accordance to the systems theory, work must be divided specifically among work units such as companies, divisions, departments or groups. Tasks must be assigned perfectly so there will be no gaps and overlaps of responsibilities, as dictated by the contingency theory. Also, different levels of an organization require different kinds of work. The HR staff needs to consider these aspects in the planning of the organizational structure.
One of the spill-over effects of the macro problems in the organization is conflict. For one, it wastes essential human resources that should have been used in more productive endeavors, which should include the ultimate goal of the organization. Managers spend increasingly more time mending conflicts and its repercussions. Yet, conflict gives out negative results and it ironically paves the way for beneficial results. For example, the emerging conflict between Mr. Tony and Glenn often helps uncover persistent problems so that they can undergo careful scrutiny. In this manner, conflict sometimes serves as the drive for effective and needed change (Rahim & Buntzman 1988, p.198).
Managing the process of resolving conflicts is the central task regarding organizational order. Such management of conflict requires a full and sophisticated grasp of major elements in the conflict process. Individual causes and determinants of conflict, such as faulty attributions, poor styles of communication, and personal traits or characteristics that contribute to interpersonal friction, all play a role and must be taken into account. Similarly, organization-based factors, such as competition for scarce resources, ambiguity over responsibility or jurisdiction, growing internal complexity, and faulty or inadequate forms of communication, must also be considered. Make sure that positive effects are garnered from the situation and all of those involved or in control must do everything in their power to maximize the positive products while minimizing the disruptive consequences.
With all the issues identified, these are the practical recommendations. In connection to employee motivation and compensation, Wal-Mart’s management must focus on the fairness and equal treatment of employee. Managers must be willing to communicate with their associates. The leadership style must be evaluated in order to know if it is effective or not. Benefits, incentives and rewards are some means to motivate employee performance. However, it is also recommended that it must be used in moderation. Further, collective bargaining and maintaining an open line of communication among concerned parties is imperative. Effective implementation of motivational actions will result to increased productivity. Finally, in managing conflict, the manager must be equipped with the skills in conflict solving process. Investigation and the process of mediation is the most vital solution to this problem. Additionally, fairness and equality must be present in the working environment.
Lockheed Martin is among the very largest defense contractors in the world, and in 2008 70% of Lockheed Martin's revenues came from military sales.[1] It "receives one of every 14 dollars doled out by the Pentagon."[2]
Lockheed Martin operates in four business segments. These comprise, with respective percentages of 2009 total net sales of $45.2 bn, Aeronautics (27%), Electronic Systems (27%), Information Systems & Global Services (27%), and Space Systems (19%). In 2009 US Government contracts accounted for $38.4 bn (85%), foreign government contracts $5.8 bn (13%), and commercial and other contracts $0.9 bn (2%).[3] In both 2009 and 2008 the company topped the list of US Federal Contractors.
The company has received the Collier Trophy twice – in 2001 for being part of developing the X-35/F-35B LiftFan Propulsion System,[4][5][6] and again in 2006 for leading the team that developed the F-22 Raptor fighter jet.'
Education and Skill Profile of Workforce
The educational and skill profile of existing workforce in India is very poor and primarily responsible for its low productivity. Though enrolments in academic institutions are significant, more than 90 percent in primary classes, around 60 percent in middle classes, more than 30 percent in higher secondary and above 10 percent in higher education, yet percentage of people having marketable skills is woefully low. As per National Sample Survey on employment and unemployment (1993-94), only 10.1 percent of male workers and 6.3 percent of female workers possessed specific marketable skills. The percentages were marginally higher in urban areas.
The levels of vocational skills of labour force in India compare poorly with other countries. Only 5 percent of the Indian labour force in the age group 20-24 had vocational training compared to 96 percent in Korea and varying between 60-80 percent in industrial countries. This points out to the fact that education system in India is excessively oriented towards general academic education with little or no vocational orientation.
Work participation rates by levels of education in Figure 4 shows that participation rate increases with the level of education. At the same time non-workers seeking work or available for work also increases by level of education. More graduates and people with technical diploma or certificates are seeking or available for work than those with below metric qualifications.
Issues: Motivation, Compensation, and Conflict
The issue of motivation and compensation was manifested in news articles and research studies conducted stating that Wal-Mart has low wages and sparse benefits package. With this, the management needs to restudy and focus the competitiveness of their offers that will lead to further motivation and productivity of their workforce. As with organization, “people are the most valuable asset”, employee satisfaction – ensured through proper motivation and compensation – must be carefully considered by the HR team. This must be done to retain good staff and to encourage them to give of their best while at work requires attention to the financial and psychological and even physiological rewards offered by the organization.
Basic financial rewards and conditions of service are determined by national bargaining or government minimum wage legislation such as the Employment Relations Act (2004) or by collective bargaining with labor unions. Details of conditions of service are often more important than the basics (Sims, 2002). Hence, financial and other motivations must constantly be evaluated and improved to ensure employee satisfaction. According to the expectancy theory, employees expect and need to be rewarded according to the work they do, and will help them to develop their capability, help them to work up to a higher level so that they can be better rewarded. Employees expect organizations to have compensation systems that they perceive as being fair and commensurate with their skills and expectations (Sims, 2002). The compensation may, in some cases, act as employee motivators. These compensations that employees receive may be value-added compensation including direct compensation, such as salary, incentives and commissions; and indirect compensation, such as insurance benefits, employee recognition programs, flexible work hours, and vacation benefits. In accordance to the systems theory, work must be divided specifically among work units such as companies, divisions, departments or groups. Tasks must be assigned perfectly so there will be no gaps and overlaps of responsibilities, as dictated by the contingency theory. Also, different levels of an organization require different kinds of work. The HR staff needs to consider these aspects in the planning of the organizational structure.
One of the spill-over effects of the macro problems in the organization is conflict. For one, it wastes essential human resources that should have been used in more productive endeavors, which should include the ultimate goal of the organization. Managers spend increasingly more time mending conflicts and its repercussions. Yet, conflict gives out negative results and it ironically paves the way for beneficial results. For example, the emerging conflict between Mr. Tony and Glenn often helps uncover persistent problems so that they can undergo careful scrutiny. In this manner, conflict sometimes serves as the drive for effective and needed change (Rahim & Buntzman 1988, p.198).
Managing the process of resolving conflicts is the central task regarding organizational order. Such management of conflict requires a full and sophisticated grasp of major elements in the conflict process. Individual causes and determinants of conflict, such as faulty attributions, poor styles of communication, and personal traits or characteristics that contribute to interpersonal friction, all play a role and must be taken into account. Similarly, organization-based factors, such as competition for scarce resources, ambiguity over responsibility or jurisdiction, growing internal complexity, and faulty or inadequate forms of communication, must also be considered. Make sure that positive effects are garnered from the situation and all of those involved or in control must do everything in their power to maximize the positive products while minimizing the disruptive consequences.
With all the issues identified, these are the practical recommendations. In connection to employee motivation and compensation, Wal-Mart’s management must focus on the fairness and equal treatment of employee. Managers must be willing to communicate with their associates. The leadership style must be evaluated in order to know if it is effective or not. Benefits, incentives and rewards are some means to motivate employee performance. However, it is also recommended that it must be used in moderation. Further, collective bargaining and maintaining an open line of communication among concerned parties is imperative. Effective implementation of motivational actions will result to increased productivity. Finally, in managing conflict, the manager must be equipped with the skills in conflict solving process. Investigation and the process of mediation is the most vital solution to this problem. Additionally, fairness and equality must be present in the working environment.
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