Caterpillar 2011 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2011 Caterpillar annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 66

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

Financial Products & Corporate Services 40
WHAT THE WORLD NEEDS | 2011 YEAR IN REVIEW
Chairman’s
Message
Construction
Industries
Customer &
Dealer Support
Financial Products &
Corporate Services
The Caterpillar
Foundation Leadership Performance
Resource
Industries
Energy &
Power Systems
Investments in innovative technologies, expanded manufacturing
capabilities and new products and services will help Caterpillar
meet a new era of demand. The most important investments,
however, will be made in the people who ultimately drive the
business to realize its potential. Accordingly, leadership develop-
ment is a key focus of Caterpillar’s Vision 2020 strategy, and the
company is investing more time and money in the effort than
ever before.
Ironically, it took the downturn of 2008-2009 to underscore the
need for increased leadership development. “It was the deepest
recession employees had ever experienced,” says Bonnie Fetch,
Caterpillar director of People and Organizational Development.
“It awakened us to the need for superior leadership throughout
the company and the development of a high-performance culture
that can perform through the business cycle.”
To this end, Caterpillar has created the Leadership Excellence in
Accountability and Development program, or L.E.A.D., a global
initiative introduced in 2011. L.E.A.D. focuses on four levels of
leadership – first-line supervisors, managers, department heads
and executive officers – in all countries where Caterpillar operates.
L.E.A.D. offers innovative coursework combined with learning in
the field. Each level of leadership engages in learning programs
tailored to their needs and focused on the strategic needs of
the company.
For leaders with the potential to grow to senior executive level,
L.E.A.D. offers Digging Deep – our flagship program developed
in partnership with Stanford University Graduate School of
Business. In addition to classroom instruction from Stanford
faculty, participants also spend a week on job sites in growth
markets like China and Brazil and participate in Corporate Social
Responsibility activities. These trips offer a firsthand look at
sustainability efforts and interaction with clients in different
parts of the world.
“We’re merely stewards of the business,” notes Caterpillar Group
President and CFO Ed Rapp. “As I see it, the most critical role I
have is to make sure that I leave the business better than I found
it and to turn it over to more capable hands when I leave.”
Development from the ground up will ensure Caterpillar’s future
remains in the hands of people with the best interests of Caterpillar
in mind. “We recognize that Caterpillar is important in the world
marketplace,” adds Fetch. “We’re taking ownership of ensuring
we have leaders ready to lead.” The goal is to develop leaders
who can thrive in a continually changing marketplace, engage
their workforce, focus on their customers’ needs and shape a
culture of accountability and performance.
L.E.A.D.
Prepares the
Next Generation
We’re more committed than ever to
ensuring that our future leaders have
what they need to lead.