Within the agriculture business, those who cultivate, harvest, transform, enrich, and build upon the land, John Deere is committed to their success. John Deere’s approach to growth is simple. John Deere sets the goal as being the industry partner of choice around the world within the agriculture, forestry, turf, and construction equipment, the company can obtain their goal of Shareholder Added Value (John Deere, 2015). Furthermore, the company continues to relentlessly improve their products business efficiencies, therefore achieving operational performance that is exceptional within their industry. The strategy of John Deere over the last few years has focused on a strategy that not only benefits them domestically, but globally as well. …show more content…
The historical approach that John Deere has taken with the idea of innovation may be described at best as a fast follower or a close second, rather than a first mover (Purdue University, 2008).
In 1918, John Deere Bought Waterloo Boy Tractors after spending several years researching the production of tractors. This acquisition would become John Deere’s basic product. Within that same year, Ford Motor Company had sold 34,000 tractors compared to just over 5,300 tractors for Waterloo Boy tractors. In 1994, John Deere acquires Homelite, a maker of handheld power equipment for outdoor use. Simultaneously, the company arranges a deal with Zetor, a Chech company to provide a small tractor for those markets that are beginning to develop. John Deere was listed among the 50 most admired companies in 2011 by Fortune Magazine. John Deere celebrated its 175 year anniversary in 2012, with sales and revenue topping $36 Billion which was a record for the company (John Deere,