Overview of Caterpillar, IncCaterpillar, Inc. (Caterpillar) was founded on April 15, 1925 and is headquartered in Peoria, Illinois. For nearly 90 years, Caterpillar Inc. has been helping companies improve the world on all continents by developing diverse equipment in all fields of work for different companies to use. Forbes overview of Caterpillar, Inc states: “Caterpillar Inc. is engaged in the manufacturing of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company provides technology for construction, transportation, mining, forestry, energy, logistics, electronics, financing and power generation. Caterpillar operates in five segments: Construction Industries. Some of Caterpillar's competitors are Japan-based Komatsu Ltd, Illinois-based Deere & Co, Japan-based Kubota Corp, and UK-based CNH Industrial NV. All these companies are manufacturing companies, so they face similar problems or advantages depending on the current trend of their type of production. Vault's overview of manufacturing states: “The manufacturing industry is made up of two categories: durable and non-durable goods. Durable goods, such as cars, airplanes and large household appliances, can be used for a long time. Non-durable goods, such as food, cosmetics and clothing, are consumed more quickly." This is just a rough summary of some of the fields involving durable and non-durable goods. The two categories are very different, so different types of employees work in the manufacturing industry. Workers can vary in skills, education and interests because the industry is so broad. A laborer is very different from an engineer, yet both work for the same They are part of "Construction Machinery Manufacturing, Construction, Mining & Material Handling Machinery, Construction Machinery and Equipment and Construction Machinery Manufacturing 'mining, quarrying and construction', provided by Morningstar's corporate overview of Caterpillar. Caterpillar is part of the manufacturing industry; however, production is a broad term. Any process that transforms a raw material into a finished product through the use of a machine could be considered manufacturing. To make things more understandable, throughout the rest of this document I will refer to the Caterpillar sector simply as the manufacturing industry. The manufacturing industry is in trouble right now. According to Joe Zale, director of US Industrial Products, Deloitte Consulting LLP., the key issues are opportunities driven by product innovation, changes in talent needs and energy disruptions. This is a problem for workers in the sector. This means that even if Caterpillar is successful right now, to increase its wealth and profit it will have to face the challenge of creating more efficient processes for creating its equipment. Therefore, using automated machines to do a worker's job is more efficient, because Caterpillar does not have to pay wages to that particular machine. Furthermore, to create new non-automated processes, workers who understand how to use machines and are capable of doing so will be needed