Caterpillar Company Profile
Company's History
The company had had a tremendous evolution throughout a period of highest sales and profits, however, in 1982, it hit rock bottom and entered its most serious crisis in history. A strong dollar, a long- term strike and several internal problems meant that Caterpillar endured three years of continuous decreasing sales and heavy losses.
Things became to turn around as George Schaefer became CEO in February 1985. A long career with the company helped him use his huge experience to revive the company's activities.
Key Management
George Schaefer became CEO in February 1985 and led the company through a period of serious restructuring and organizational change. He had started out in accounting, but then moved in several positions throughout the company, including Vice President for Finance and Data Processing, EVP and board member.
Pierre Guerindon had played an essential role as the Belgian plant's manager and it was no surprise that he was brought to Peoria, where he started as a Vice President for Manufacturing in 1980. In this position, he introduced new technologies and a new plant management within the company.
3. Competitive Situation
The competitive situation of the company resembled that of many other large American companies during the 80s and beginning of the 90s. Indeed, during this period of time, competition from Japanese firms became a fact. These companies managed to operate at lower production costs and higher efficiency levels (somewhat related to the population's attitude towards work and the company, as well as the familial management style, where the company practically becomes a second family for the worker).
Even if the U.S. government imposed rather high import taxes on products made in Japan, in order to lower their competitiveness on the U.S. market, their solution was rather simple: direct foreign investments. This was also the case for Komatsu, the perfect example for everything I have mentioned here above.
Indeed, Komatsu was a most serious competitor in the United States. As we have seen...
Among the practical approaches, we have mentioned integration of all executive development related activities, meaning that a better overview of the process may give out better results because of integrated planning, organizing and control. Bibliography 1. Bolt, J. "Tailor executive development to strategy" 1985 Harvard Business Review, Vol. 63 No.6, pp.168-76. 2. Bolt, Jim. Networking Smarter: What's Your NQ?. Fast Company. On the Internet at http://www.fastcompany.com/resources/learning/bolt/101005.html.Last accessed on October 4, 2006 3. Rob Cross,
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