Caterpillar 2010 Annual Report Download - page 4

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And finally, we have to take a hard look at difficult issues like healthcare and state pension reforms. Yes. A massive healthcare
bill was passed in the United States. Most everyone can agree that reform is needed, but the bill placed a significant burden on
businesses and missed an opportunity for real reform. To truly control healthcare costs, we need a greater focus on disease
prevention, improvements in the quality of care, pay-for-performance provisions, evidence-based care and treatment, comparative
effectiveness research and payment reform.
It’s true, we have challenges that need immediate attention, but we urge everyone to look at the complete picture. Innovation
and investment have been the keys to successful economic growth and job creation for years. And our future growth and
prosperity will continue to depend on our ability to be competitive and cutting edge in the global market.
External Perspective Needed
As we look to the future, a few things are clear – the world’s energy needs will continue to grow, countries and cities around
the world will continue to develop and we will need ways to efficiently transport goods and services around the world.
No matter what else happens, these needs will be there, and Caterpillar will be positioned to take advantage of growth and
progress in our changing world.
When we look ahead to 2011, we have a lot of work to do, but I can sum it up very simply – it’s all about delivering results
for our customers and doing it better than our competitors.
The best quote I heard all year was from one of our very own Caterpillar leaders. During a meeting when we were creating
our new strategy, this person said something like, “For years our competitors have been obsessed with Caterpillar. And at
the same time Caterpillar has been obsessed with Caterpillar.”
CHAIRMAN’S MESSAGE
2010 YEAR IN REVIEW
What’s Driving The Growth That Drives Our Performance?
A Large Emerging Middle Class with a Higher Standard of Living
Higher Demand for Goods & Services Increased Urbanization Rising Energy Consumption
Higher Demand for Commodities Increased Need for Infrastructure Finite Energy Resources
More Mining of Commodities Increased Construction Equipment New Energy Solutions
Rising GDP in Growth Markets
Global macroeconomic trends are creating multiple growth paths for Caterpillar.
What’s Driving the Growth That Drives Our Performance?