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Essay / Research Paper Abstract
Companies face change all the time. This 5 page paper looks at two companies who have had to face challenges; Caterpillar and Cingular. Caterpillar faced a changing industry and had to adapt the way that they operated which resulted in some restructuring including the development and enhancement of the service divisions. Cingular operated in a maturing market it is highly competitive and undertook a strategy of acquisition. Each case is considered under 3 headings, the issues that the company faced, the response and a result. The bibliography cites 3 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEcatcig.rtf
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Unformatted sample text from the term paper:
was undergoing a period of rapid growth, is seeing some major changes in the way the demand from customers is emerging. It was projected that the point at which the
mining industry will top out was only a few years away in 2009 (Arndt, 2005). Furthermore, that the peak demand in the domestic market of the big rig trucks would
take place in 2006 and a recession in the industry may occur as early as 2011. The Caterpillar this would mean there would be a massive slowdown in demand which
would impact on their sales and long-term profits. The company survive and retain long-term viability new strategies had to be found. 1.2 The Response In order to survive the company
needed to find new ways of creating revenue and satisfying demand. This has been undertaken with a focus on services and market expansion including some restructuring of the way in
which the products and services offered. The first strategy was for a greater level of acquisitions to take place in new markets, for example China in order to make up
for the falling demand in the home market (Arndt, 2005). However, this was not the main strategy. A key shift was to services and the extension of the services offered.
The company developed and enhanced three areas of service which were offered; financial services (two thirds of the companys products were sold using in-house finance, Logistics and remanufacturing (Arndt, 2005).
These services divisions make up 15% of the revenues and as they are profitable a disproportionate level of net income; 20% (Arndt, 2005). The concentration on these services has the
aim of increasing their proportionate share of sales so that by 2010 they make up 20% of all sales. Services have higher profit margins and are able to create opportunities
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