John Deere is an iconic one hundred and seventy-seven year old company and maker of agricultural machinery headquartered in Moline, Illinois. What started as a small business operation has sprung into a multibillion-dollar global operation. In 2013 alone, the company boasted sales of $37.80 billion. Founded in 1837 by a blacksmith, the company originally only built plows, and did not assemble their first tractor until they purchased a small tractor company, Waterloo Boy, in 1918. Now the green and yellow machinery is recognized around the world.
Although agricultural equipment is still the main revenue generator for John Deere, they are also a major producer of forestry, construction, commercial and residential lawn equipment. John Deere has clearly done its homework on how to expand into new industries and stay ahead of its competition. Nevertheless, with so many changing factors in the world, such as new technologies and greater global competition in the industry, what long-term strategies should John Deere leverage to stay ahead? It is important for the company to dedicate resources to determine what ground breaking evolutions within the industry will keep them most competitive.
As underdeveloped countries continue to improve their quality of life, there will be a growing demand to cater to emerging economies as their agricultural industry becomes more industrialized and automated. A major focus of John Deere’s future strategies to expand its global footprint should include building manufacturing centers, expanding brand recognition, and developing human capital.
Company Description Deere and Company, or better known as John Deere, is one of the world’s largest agricultural and construction equipment manufacturers, but the company is most widely recognized for its tractors. In 2013, John Deere ranked 86th in the American Fortune 500 and 308th in the Global Fortune 500 ranking. In 2011, John Deere earned a