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Essay / Research Paper Abstract
This 3-page paper is an overview of Caterpillar Company's strategies in the 2000s, and whether they're strong or need improvement. The company's diversification, distribution and marketing strategies appear to be quite strong.
Page Count:
3 pages (~225 words per page)
File: D0_MTcatbar.rtf
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Unformatted sample text from the term paper:
1980s, the company had suffered a huge loss at the hands of Japanese competitors. During the 1990s, however, under the leadership of Donald Fites (and Beorge Schaeffer before him), Caterpillar
cut costs, boosted employee morale and diversified its product line, while modernizing the companys plants. When Fites retired in 1999, however, successor Glen
Barton, in his position as CEO, had concerns about Caterpillars ability to stay on top, namely because he knew that the U.S. construction industry was moving into a downturn. Bartons
concerns were justified when the companys 1999 results were announced -- sales had declined by six percent, and earnings had declined by 37 percent. It was Bartons job to try
to follow-up some hard acts; Schaefers consensus-building had created a loyal staff, while Fites leadership style, which was more leadership by intimidation than anything, ended up engineering a huge reorganization
in the company, to help the company better respond to the speed and flexibility of the global market place of which it was now a part.
This might have been enviable for Barton, but Barton faced his own changes as the company moved into the millennium. For one thing, retired Caterpillar executives were
not allowed to sit on the board of directors (which cost Barton two potential allies in former CEOs Fites and Schaefer). The downturn in the U.S. market meant trouble. But
Barton made a very strong choice, and that was to begin targeting markets overseas, determining (and rightfully so, as it turned out) that new markets would be the ideal potential
targets for Cat machinery. There was good reason for this -- in 1999, 80 percent of the worlds population lived in developing countries,
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