Answer To: Familiarize yourself with the following terms and concepts discussed this week in preparation for...
Ishika answered on Dec 04 2021
Caterpillar: strategic managaement
Caterpillar: strategic managaement
Table of Contents
CATERPILLAR: 2
Current strategies: 2
PESTEL Analysis: 2
SWOT Analysis: 3
Future strategic planning of CATERPILLAR: 3
Recommendations: 4
CATERPILLAR:
The top ten industrial supply chains named Caterpillar in 2010 were among the top ten lists by Gartner's Inc. Doug Oberhelman, President, and CEO of Caterpillar have also named Fortune's 2010 among the top 50 employees in the business. Caterpillar therefore actively participates in and competes best for the environment in the development of its business. (Heil, 2012)
Current strategies:
The world's number-one construction and mining equipment, diesel, gas and natural-gas turbines maker is Caterpillar Inc. The company continually develops and expands its business day by day. Caterpillar markets its goods around the globe such as China, India, Canada, Russia, etc. Its business is not just confined to Europe. At a very reasonable price, Caterpillar offers its customers the highest-quality product and also has good customer relationships. In 110 plants worldwide, In nearly 200 countries, Caterpillar manufactures its products and sold its products. Caterpillar sells separately, which accounts for about 66 percent of total sales. Caterpillar uses many business strategies to develop it and to compete with its competitors effectively (Saravanan. G & Dr. P. Vikkraman, 2012). Numerous analytical methods such as the PESTEL analysis for macro-environment analysis, SWOT analysis for resource efficiency analysis and Porter Fif Force Analysis will also be used for the analysis of the industry, consumers, rivals, suppliers, etc. For the evaluation and assessment of the company's current strategies.
PESTEL Analysis:
Political factors: Because Caterpillar works and serves consumers all over the world, political factors should be understood.
Economic factors: recession, inflation, GDP growth, population growth, etc. Economic factors include. In the 1980s, Caterpillar experienced a very severe recession. In order to maintain a balance, the Company must increase the prices of raw materials in order to raise the production cost of Caterpillar (Yüksel, 2012).
Social Factors: In many diverse countries, Caterpillar operates. It is therefore essential while framing business strategies, to consider social factors....