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John Deere's long term business plan

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Introduction

The company that I have chosen for this case study is John Deere Equipments. This company was founded by John Deere in 1837 and was incorporated in 1868 as Deere & Company. John Deere was originally a one man blacksmith shop and it is now a worldwide corporation. It now has offices in more than 160 countries and employs more than 46,000 people. John Deere is one of the oldest industrial companies in the United States and it is based on the original values of quality, innovation, integrity, and commitment. The business strategy of John Deere, in their own words : "We aspire to distinctively serve customers those linked to the land through a great business, a business as great as our products. To achieve this their strategy is: Exceptional operating performance, Disciplined SVA growth, Aligned high-performance teamwork Execution of this strategy creates the distinctive John Deere Experience that ultimately propels a great business and, for all with a stake in our success, delivers...Performance That Endures" (1). They are always giving stakeholders the maximum revenue by continuous improving and growing in all sectors of the company. The company is consisted of four manufacturing divisions: * Agricultural Equipment - products for farms * Commercial and Consumer Equipment - commercial operations, lawn equipment and ground care, residential needs, golf and turf * Construction and Forest Equipment * John Deere Power Systems - engine developing for other John Deere products. ...read more.

Middle

This is why this company enjoys huge opportunities for growth and has come to realize many of the goals set up by its core mission values and vision. Many critics note that Deere has made considerable progress in the area of diversity and it is continuously improving its business initiatives in order to incorporate all aspects of its existence. "Accountability for diversity starts at the very top of the organization; diversity and inclusion are an integral part of the business agenda. Deere believes that diversity is good business and is essential to maintaining the company's market leadership and sustaining its reputation as one of the most ethical and respected corporate citizens" (2). Some of the areas that Deere is especially involved in include: * Senior Leadership and Accountability * Supplier Diversity * Dealership Diversity * Employment and Retention * Employee Networks * Community Involvement (2) Product Diversification: Even though John Deere is very committed to its core businesses, it sternly believes that growth in the future not only depends upon carrying on with the current businesses, but also by introducing new products and services to the markets. This is why John Deere has ventured into the areas of finance and leasing by opening up John Deere Credit, which is one of the largest equipment finance and leasing companies in the United States. "It provides financing of farm and construction equipment, recreational and homeowner consumer products, commercial equipment, and revolving credit financing for agricultural purchases. ...read more.

Conclusion

John Deere employees are innovative" (3). Money and profits are not everything at John Deere. The Deere & Company was around during the American Great Depression of the 1930s and it saw that many of the customers of the company were not in a position to pay back their machinery debts. Deere & Company decided to carry these customers for as long as necessaries and even though it suffered heavy losses, it kept its promises to the customers. Eventually, all the debt was paid back and Deere retained its goodwill amongst its stakeholders, this still runs deep and strong in the company's veins. John Deere employees strive for long-term win-win relationships. The John Deere commitment is "The John Deere trademark is one of the world's most trusted and distinctive brands. Since all brands are simply promises in short-hand, their name recognition speaks directly to a great many promises made and kept. John Deere employees understand shared commitment is powerful. Nothing runs like a Deere"(4) Perhaps the main reason why I chosen John Deere for this case study is because this company has strived to keep up with the changing times and has successfully grown into the various markets all over the world. It took many companies a long time to realize that the global market was the market of the future but Deere & Company had envisioned this growth a long time ago. Best thing is that they were successfully able to 'catch it while its hot' and take home the winning prize of global growth and customer care. ...read more.

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