Learning Is a Powerful Tool
For the past three years, Caterpillar has experienced explosive growth, more than doubling its size. It is in the process of increasing its service-related businesses, with a goal of more than $20 billion in revenue from services by 2010. That was the size of the entire company in 2002.
This construction and mining equipment manufacturer has never shied away from a learning challenge. CEO Jim Owens tells T+D, “Learning is essential to our aspiration to be a great company.”
“Great performance and profitability go hand in hand with continuous learning,” says Owens. “To stay on top of our industry, we must be ‘in the know’ every day.”
Caterpillar invests close to $100 million a year in employee education. “We must make sure that our employees have the knowledge and skills to succeed in the 21st century workforce,” Owens says.
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