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Wsj Article Review: The Secret to Global Market by Caterpillar Inc Essay


Key Points

  • Achieving strategic, sustainable competitive advantage in the Global market place: Globally caterpillar Inc .is well as the leading company in the manufacturing of construction, agriculture and mining equipments despite competition from other competitors like Deere company which largely produces agricultural equipments. These competitors manufacture almost the same products as caterpillar.
  • Thinking globally, Acting locally: Through analysis of its strengths, weaknesses, opportunities and threats, Caterpillar Inc has maximized on production of earth moving machines. It stands out and beats all its competitors in manufacturing such machines while they major in agricultural and construction machines.
  • Creativity, Innovation and Dynamic Change: Caterpillar Inc improves it market for its products through research and development. This ensures technology development, quality, partnerships and investment in the right technology. Its products are updated to meet the current and future challenges.

Analysis

Caterpillar Inc. being the leading manufacturing company of construction, agriculture and mining equipment has been a threat to other manufacturing companies which produce almost similar products. The company produces both large and small agricultural equipments like harvesters, irrigation equipment, tractors, and plows, combine among other machines.

It has been in the manufacturing industry for a given period of time. In this industry caterpillar Inc faces the challenge of competition from other companies which manufacture almost the same type of machineries.

Its main competitors are Kubota Corporation and Deere Company. Deere Company largely manufactures agricultural equipments. Despite the competition, caterpillar has managed to maintain a sustainable competitive advantage over its competitors through strategic planning. It has maximized on earth moving machines while at the same time diversifying its products and making them available to its clients.

The caterpillar management has managed to be the preferred choice in the global market while it acts within the company. The company has evaluated itself using strategic planning. By acting locally or within it, Caterpillar Company has been able to determine what works for it best and what does not.

It has prioritized manufacturing of earth moving machines. It is also involved in offering other services like financial services, rail services and remanufacturing services. These are strategies from within the company which help the company to hit global market successfully. Also by determining its failures, the company has been able to reduce on its losses.

The company has utilized research and development services in order to increase its opportunities in the global market. The company has over 8000 qualified experts’ worlds wide who are involved in research work. Such a move has enhanced innovation of new machines which beat the current challenges while at the same time creating a dynamic change. Through creativity the company has come up with Caterpillar foundation which has enhanced marketing of its products and creation of new partnerships.

The creativity of the company is also enhanced by the strong, diverse and passionate staff which is made up of members more than 100 speaking languages. Through its strong customer base the company has excelled in the global market. Caterpillar Inc has set up more than 500 dealer locations world wide which deal with logistics, marketing services and other related services thus making it geographically available to its clients.

Conclusion

With Caterpillar Inc enjoying a favourable global market and continuously expanding its market, it is also facing the challenge of competition from other related companies.

For Caterpillar Company to keep on being a leader in the global market, it has to keep up its innovative pace in order to be able to compete with other companies which can provide a better future in the manufacturing industry. Its competitors like Deere Company have the potential to come up with sophisticated machines. Strong consumer or client base is important for a company and needs to be reviewed and updated occasionally.

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IvyPanda. (2018, October 22). Wsj Article Review: The Secret to Global Market by Caterpillar Inc. Retrieved from https://ivypanda.com/essays/wsj-article-review-the-secret-to-global-market-by-caterpillar-inc/

Work Cited

"Wsj Article Review: The Secret to Global Market by Caterpillar Inc." IvyPanda, 22 Oct. 2018, ivypanda.com/essays/wsj-article-review-the-secret-to-global-market-by-caterpillar-inc/.

1. IvyPanda. "Wsj Article Review: The Secret to Global Market by Caterpillar Inc." October 22, 2018. https://ivypanda.com/essays/wsj-article-review-the-secret-to-global-market-by-caterpillar-inc/.


Bibliography


IvyPanda. "Wsj Article Review: The Secret to Global Market by Caterpillar Inc." October 22, 2018. https://ivypanda.com/essays/wsj-article-review-the-secret-to-global-market-by-caterpillar-inc/.

References

IvyPanda. 2018. "Wsj Article Review: The Secret to Global Market by Caterpillar Inc." October 22, 2018. https://ivypanda.com/essays/wsj-article-review-the-secret-to-global-market-by-caterpillar-inc/.

References

IvyPanda. (2018) 'Wsj Article Review: The Secret to Global Market by Caterpillar Inc'. 22 October.

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