Summarize your assessment of Caterpillar Inc.’s global strategy. Based on your assessment would you propose any changes? Why or why not?
Caterpillar Inc.’s global strategy
Caterpillar Inc.’s (CAT) is the world’s largest manufacturer of construction equipment. It is multinational company engaged primarily in designing, developing, engineering and manufacturing machinery and engines to customers worldwide[i].
CAT’s strategy for growth is broadly based on its Operation & Execution (O&E) model. In 2010, to insulate the company from the ups and downs of global economic cycles, it adopted the O&E strategy. Under this strategy, CAT strengthens its competitive advantage by allocating resources into its most profitable parts of the business. The company invests in those businesses where it believes has the maximum potential to generate value. It uses data and facts to understand the most attractive industries. Based on this, it then devises strategies to improve its competitive position and allocate resources to areas with maximum potential. The company invests a lot of resources in understanding its customers. It researches on how the customers use the products and services, including the most important attributes. Based on the customer feedback, it is expanding its product offerings thereby generating greater customer value and loyalty. To deliver robust operational performance, CAT continuously builds on its core competencies, which are safety, quality, lean and competitive and flexible cost structure.
The O&E model helps in managing inventory, develop up to date products, and generate customer loyalty. I would not propose any drastic changes to the company’s strategy as the present model is driving business growth. Given its focussed approach, the O&E model is likely to make it easier for the company to remain profitable even during troubled times. I would recommend the company to be more aggressive in its expansion plans in developing countries as most of the population lives in these countries and they are likely to drive growth in the future. Diversification into new products can also increase profitability.
Source:
[i] CATERPILLAR STRATEGY, https://www.caterpillar.com/en/company/strategy-purpose/strategy.html
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