Lockheed Martin 1998 Annual Report Download - page 10

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8
INNOVATION
WE HAVE IDENTIFIED 14 STRATEGIC TECHNOLOGIES
THAT ARE CRITICAL TO THE CORPORATION’S FUTURE.
Simply stated, inno-
vation drives growth, and
for Lockheed Martin that
means a passionate com-
mitment to research,
technology leadership
and more efficient busi-
ness practices. We can-
not compete effectively
by using yesterday’s
processes, nor by
operating according to
yesterday’s template. Our attention is focused
on investing in processes that will help us be
more competitive.
To that end, we have 60,000 of the
world’s premier scientists and engineers.
Plus we have a $1 billion discretionary
budget available for independent research,
as well as bid and proposal to develop the
promising technologies for tomorrow.
We have identified 14 strategic tech-
nologies that are critical to the Corporation’s
future, and we are developing a process for
leveraging them. These
are enabling technologies
that Lockheed Martin
needs to be successful
in high-growth, closely
related fields such as
information services
and space-based
telecommunications.
Our commitment
to innovation extends to
the way we do business
through LM21 Best Practices. This is part
of an overarching desire to work smarter
and share those ideas throughout Lockheed
Martin to be a more competitive player in
the marketplace.
Additionally, our Virtual Product
Development Initiative is revolutionizing
the aircraft development process. Through
advanced computer-aided design technology,
we have created a Virtual Company that
unites geographically dispersed people and
significantly reduces cycle time and costs.
EXCELLENCE THROUGH
Above: Lockheed Martin uses its expertise in Commercial IT in advanced medical records databases.
Right: Lockheed Martin’s VentureStarewill advance the science and technology of space transportation
as well as reduce the cost of getting into space.
8