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Complete 2 page APA formatted essay: Caterpillar Company : HR and Corporate Strategy.They are now planning to open lifestyle stores. Their clothing range has been rated 66th in Interbrand's Best Globa
Complete 2 page APA formatted essay: Caterpillar Company : HR and Corporate Strategy.
They are now planning to open lifestyle stores. Their clothing range has been rated 66th in Interbrand's Best Global Brands Survey (Rigby, 2009). Hence, the financial and the retail sector are unrelated to the core business of Caterpillar. Despite its diversification, there is total alignment with the corporate strategy, as the organization has set out an identity, strategy and implementation for its brand (Strategic Direction, 2007).
Caterpillar’s expansion has been through a mix of organic growth, joint ventures and acquisitions (Wei & Min, 2008). They have made acquisitions across continents and different nations including China, Brazil, India, Canada, Australia, the UK and Singapore. At the same time, their manufacturing unit, is their fastest-growing unit (Arndt, 1005), which suggests organic growth. To offset the slowdown, they make acquisitions as in China. Because of its worldwide expansion, Caterpillar is able to focus on strong revenue growth in Asia and the emerging markets, which allows the company to offset weaker business in America. Thus, its long-term corporate strategy allows it to benefit because of its geo-political locations and use a mix of organic growth and growth through acquisitions.
HR Strategy
Caterpillar has a team of 200,000 people round the world which includes its employees, dealer employees and suppliers (Cat.com). Caterpillar has strong leadership which is due to its career development programs. Their corporate values are the cornerstone of their success. The labor relations at Caterpillar are strained and their employees are affiliated to United Automobile, Aerospace and Agricultural Implement Workers of America (UAW).
