Lockheed Martin vs Boeing Essay Example | Topics and Well Written Essays - 4250 words

Lockheed Martin vs Boeing - Essay Example Over the last few decades, the aviation industry has witnessed significant changes in its overall operating business environment. This change has resulted in creating both favorable as well as unfavorable circumstances. Nonetheless, these changes fundamentally impose challenges within an aviation industry to sustain the business efficiently by relying on the old business model (Office of Inspector General, 2012). At the same time, the current aviation industry can be regarded as highly competitive, high-technology and safety sensitive. Contextually, the effective human resource management (HRM) has emerged as one of the primary options among the airline companies in the aviation industry to establish their competitive advantages over their competitors. Due to the increasing customer awareness and expectation along with intense competition flourishing in the industry, the performance of an airline company is largely being determined by the efficiency and competencies of its human reso urces. Additionally, in order to survive in the global aviation industry, it is often being argued that a company must have skilled and dedicated employees who contribute their best for transforming the company’s mission and vision into reality. ... of human resource management (HRM) on the aviation industry and compares and contrasts the HRM practices of two major companies currently operating around the world which include Lockheed Martin and Boeing. Impact of Human Resource Management on the Aviation Industry Role of HRM in Aviation Industry Human resource management (HRM) is firmly related with the management of human assets within the internal context of an organization. The HRM deals with certain specific activities and practices that are being related with planning, developing, and retaining the most appropriate number of skilled and competent staffs within an organization which in turn facilitates in gaining competitive advantages and attaining the organization’s goals and objectives. Additionally, the role of HRM has dramatically expanded almost in all the sectors of business. Consequently, aviation industry is one where the dimensions of HRM are often being perceived as the crucial factors for attaining competit ive advantages in the highly competitive industry. Thus, the airline companies in the global aviation industry are primarily engaged in framing and implementing their own human resource strategies in order to seek the advantages of their efficient HRM over their major competitors in the current as well as future aspects. The aviation industry is also engulfed by several challenges from various sources such as recession, changes in technology and privatization. In order to warmly respond to such circumstances the global aviation industry has undertaken numerous measures to effectively tackle these problems arising from the aforesaid issues. A few major measures that have been widely implemented in the aviation industry include cost control strategies, positioning strategies and most importantly