Honors Program


Document Type


Date of this Version



DeBoer, T., Lombard, G., Nelson, S., Taylor, T., & Wynegar, P. (2024). Lockheed Martin Strategic Audit. Undergraduate Honors Thesis. University of Nebraska-Lincoln.


Copyright Trevor DeBoer, Gunnar Lombard, Sam Nelson, TJ Taylor, and Paul Wynegar 2024



This case study explores Lockheed Martin, a global leader in defense contracting. Our team performed a strategic audit using the theories of strategic management. Our research was pulled from various sources, including Lockheed Martin’s website, SEC filings, related news articles, and relevant industry analysis. The goals of this case study revolved around collecting data and performing analysis to evaluate Lockheed Martin’s potential for competitive advantage in the airplane and parts manufacturing industry.

Some of the various analyses performed on Lockheed Martin include firm analysis, industry analysis, internal analysis, external analysis, competitive dynamics, business-level strategy, corporate-level strategy, and exploring their strategic decision-making process. We produced a comprehensive strategic audit of Lockheed Martin’s operations by performing the analyses above. We deeply explored Lockheed Martin’s core competencies and how it leverages its resources and capabilities. In addition to conducting research on Lockheed Martin, we also performed an analysis of one of Lockheed Martin’s closest competitors, Raytheon Technologies. Our strategic audit of Lockheed Martin concluded that Lockheed Martin’s superior intellectual property, brand reputation, corporate structure, and competitive advantage will allow it to maintain its prominence and success in this industry long into the future.