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Deere & Company, established in 1837, is a global leader in manufacturing, distributing, and financing equipment for agriculture, construction, forestry, and commercial and consumer applications. With a presence in over 160 countries, manufacturing facilities in 10 countries, and a workforce of more than 34,000 employees worldwide, Deere & Company, also known as John Deere, has been the largest producer of agricultural equipment in the free world since 1963. In addition to its agricultural equipment, the company is a prominent producer of construction and forestry equipment, as well as diesel engines and parts.
Over its long history, Deere has undergone significant changes in its business, products, and services, always seizing opportunities for growth and innovation.
Despite its evolution, John Deere remains committed to its core values of integrity, quality, commitment, and innovation, which have guided the company since its inception.
These values shape the way Deere operates, the quality of its products, and the exceptional treatment it provides to customers, investors, and employees. Deere's primary goal has consistently been to be the most cost-effective producer in its markets, while upholding a reputation for quality and customer satisfaction.
However, the company faces challenges in improving its financial performance while focusing on growth without compromising profitability.
To achieve this, Deere must continue to lower costs, optimize asset utilization, increase sales, and enhance price realization by reducing discounts and other price-cutting strategies.
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Given its close ties to the agricultural industry, Deere's corporate performance has been subject to fluctuations in sales and profits due to market cycles and oversupplies of agricultural products. To remain competitive in the global market, the company has adjusted its product mix and manufacturing processes over the years.
PROBLEMS OF THE STUDY
One of the fundamental challenges Deere faces is the need to enhance its financial performance while pursuing growth opportunities.
While the strategy of improving profitability is clear – through cost reduction, asset optimization, sales growth, and improved pricing strategies – its implementation can be complex.
AREAS OF CONSIDERATION
Deere & Company must assess its capabilities and capacities, ensuring they align with the company's growth objectives.
Additionally, the organization should focus on gaining a deeper understanding of potential new customers who may not currently be targeted by its sales and marketing efforts.
ALTERNATIVE COURSES OF ACTION
To achieve exceptional operational performance and sustainable growth, Deere should prioritize high-performance teamwork and innovation. By implementing strategies such as cost reduction, enhanced asset utilization, value-based pricing, and performance metrics, the company can reach new levels of success. Furthermore, exploring new product offerings that complement existing products and attract new customers can drive additional sales and profitability.
CONCLUSIONS
Deere & Company's commitment to delivering high-quality products has been a key factor in its success. Despite the cyclical nature of its financial performance, the company has consistently delivered competitive returns on capital.
RECOMMENDATIONS
Deere should focus on accelerating its innovation process to evaluate new product and service initiatives more efficiently. Additionally, the company should strive to enhance the performance and reduce the costs of its current offerings to meet the evolving needs of its customers. By maintaining a focus on high-quality products and reliable services, Deere can continue to provide exceptional experiences for its customers.
Case Analysis of Deere and Company. (2016, Aug 20). Retrieved from https://studymoose.com/case-analysis-of-deere-and-company-essay
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