2.

Title: "Why The Car of The Future is an Autonomous Electric Car

Transcript: the automotive industry is experiencing the biggest disruption in its
history it may well be that in a few years time a car will look nothing like it
does today the car of the future will be electric autonomous and connected
[Music] electric cars or evs for short work through the use of an electric motor
instead of an internal combustion engine the history of the electric car is much
longer than you might think [Applause] the adoption will be initially led by
reaching price parity with internal combustion engine cars this is expected to
happen in europe by 2022 although in other parts of the world it would take
another few years although the kovid 19 has resulted in a delay in automotive
industry in general by 2022 there will be over 500 different ev models available
globally by 2030 china and europe are expected to achieve the fleet of 50 of all
cars on the road being electric as for the united states the slower levels of
adoption are expected due to limited projections of charging infrastructure
availability there are several factors contributing to this change in the
automotive industry as the ev market grows indirect costs which include research
and development depreciation and amortized costs from electric vehicle
investments will also drop by around 70 percent the biggest impact however comes
from technology for example batteries keep getting better and better average
battery energy density is rising at four to five percent per year and maximum ev
charging speeds are also rising batteries are also getting cheaper lithium ion
battery pack prices fell by 87 from 2010 to 2019. electric cars will also play an
important role of meeting global goals on climate change however while no
greenhouse gas emissions directly come from evs they run on electricity that is
in large part still produced from fossil fuels in many parts of the world around
half of the emissions come from the electricity used in manufacturing and
assembling the batteries tesla for example is accelerating the world's
transition to sustainable energy through increasingly affordable electric
vehicles and energy products the company recently announced that they are heading
to texas to build its largest auto assembly plant tesla are also strongly
contributing to the widespread advancement and adoption of autonomous cars
technology-focused early adopters want both innovations in the same car
furthermore autonomous technology integrates better with electric engines there
are many benefits that could be achieved with the development of autonomous cars
or as they are often referred self-driving cars elon musk made a bold statement
this year according to him tesla will be able to make its cars completely
autonomous by the end of this year to accomplish such a feat however key
challenges must be overcome despite ai advances self-driving cars turned out to
be harder than people expected so how do autonomous cars work and what do they
mean for the future engineers have been attempting prototypes of self-driving
cars for decades some cars are already being developed with autonomous
functionality such as self-parking or auto collision avoidance features but
until a vehicle can drive itself independently it's not a true autonomous car the
progress of automation technology is divided in six levels this includes
everything from zero autonomy where the driver performs all the driving tasks
level one includes driver assistance features but the car is controlled by the
driver level two autonomy includes partial automation like acceleration and
steering however the driver in this level has to remain engaged with the driving
task and be alert at all times tesla's current level 2 autopilot requires the
driver to remain alert and ready to act with hands on the wheel in level 3
autonomy the driver is a necessity but is not required to monitor the environment
however the driver must be ready to take control of the car at all times level 4
is referred to as high automation in this level the car is capable of performing
all driving functions under certain conditions the option for the driver to take
control of the car is also available and the last level of autonomous driving is
full automation this means that the car is capable of driving itself in all
circumstances humans are just passengers and need never be involved in driving in
order to be autonomous and make the right decisions cars must be able to exchange
a variety of information with the outside world traffic weather vehicle
condition service stations accidents etc eventually through various sensors cars
will be able to communicate with each other but also with the infrastructure
such as roads and buildings tesla's autopilot for example relies on a deep neutral
network which uses cameras ultrasonic sensors and radar to see the sensor
environment around the car besides tesla google's sister company weimo is also
working on self-driving cars waymo as well as many other companies have taken a
different approach and use high-resolution cameras and lidar as a way of
estimating distances to objects by bouncing light and sound off things in order
to introduce self-driving cars into public roads all of the self-driving
companies must overcome both technical and ethical challenges many of us wonder
how safe will the fully autonomous cars be and how will they be able to exercise
judgment after all the safety advantages of self-driving cars are many-fold this
includes reduction in accidents arising from human error where 94 percent of
serious crashes are due to human error other benefits include reduced costs and
environmental impact of transport liberation of time currently committed to
driving and accessibility to a wider range of users the self-driving car of the
future could be able to estimate the outcome of various options within
milliseconds and take actions that factor in an extensive body of research debate
and legislation in cases of unavoidable accidents any distinction based on
personal features such as age gender physical or mental constitution is strictly
prohibited and the parties involved in the generation of mobility risks must not
sacrifice non-involved parties according to a recent study from north carolina
state university the simplistic approach currently being used to address ethical
considerations in ai and autonomous cars doesn't account for malicious intent for
example existing approaches don't account for the fact that people might try to
use avs to do something bad what if the five people in the car are terrorists and
what if they are deliberately taking advantage of the ai's programming to kill the
nearby pedestrian or hurt other people then you might want the autonomous car to
hit the car with five passengers while the technological and moral difficulties
can be overcome in the future there is another hurdle that needs to be dealt
with customer acceptance remains questionable people still enjoy driving and do
not want to cede any control to complete automation with no steering wheel a
survey from the university of michigan found that 96.2 percent of people would
like to have a steering wheel as well as an accelerator and brake pedals available
even if their vehicles were self-driving [Music] although we've seen a delay of
mainstream adoption of electric cars it is quite clear the car of the future is
going to be a fully autonomous self-driving electric vehicle besides tesla today
there are many well-known car companies focused on the development of electric
cars such as toyota whose cars currently make up above 80 of the global hybrid
vehicle market plans to generate half of its sales from electrified vehicles by
2025 about five years earlier than their previously estimated volkswagen said it
will spend more than 30 billion dollars developing evs by 2023 they plan to reach
a target of 1 million electric cars produced by the end of 2023 volvo pledged to
generate 50 of his global sales from evs by 2025 and promise that by the same
year it will reduce the total carbon footprint of each vehicle manufactured by
40 bmw group projects about 15 to 25 percent of its sales by 2025 will be from
electric vehicles they also expect a 30 growth of those sales year over year
through 2025. nissan plans to introduce eight new electric cars by 2022. in the
tokyo motor show nissan unveiled the concept version of its new aria ev they
claim the high performance crossover will travel 300 miles on a single charge
and will go from zero to 60 miles per hour in less than five seconds with so many
car manufacturers focused on the development and improvement of electric cars
before the end of the decade we might see an adoption of evs into the mainstream
but what are your thoughts on this let us know in the comments section thanks for
watching did you like this video then show your support by subscribing ringing
the bell and enabling notifications to never miss videos like this you"
3.Title: "2014: Tesla and SpaceX � Elon Musk's industrial empire"
Transcript: "60 minutes rewind comparing the Tesla Model S to other cars is like
comparing an iPhone to a desk phone it is a technological marvel that scorches the
pavement zero to 60 in four seconds Tesla is another revolutionary idea from the
mind of Elon Musk a 42 year-old Silicon Valley entrepreneur who built an industrial
empire from the stuff of little boy dreams fast cars and rocket ships musk is an
idealist who told us he had to start his companies so that man could colonize Mars
and save the earth his sister says it's like her brother traveled into the future
and came back to tell us all about it so what is the future like apparently it's
fast and smoke free the Tesla Model S is powered by 7,000 battery cells linked to
an electric motor no engine no transmission no tailpipe as this company video shows
the dash is dominated by a computer that's constantly connected to the Internet it
has a fanatical following there's a waiting list that Elon Musk is trying to
shorten building 600 Model S's a week in this high-tech plant in Northern
California I have heard a lot of people describe you okay okay good I mean
hopefully unbalanced hopefully mostly good how do you describe yourself I usually
describe myself as an engineer that's basically what I've been doing since I was a
kid I'm interested in things that that changed the world or that affect the future
and wondrous new technology where you see it and you're like wow how that even
happened how how's that possible how is it possible that Elon Musk could launch to
impossible businesses SpaceX a builder of rocket ships and Tesla which could be the
first successful car company startup in America in 90 years how did you figure you
were going to start a car company and be successfully well I didn't really think
Tesla would be successful I thought we were most likely failed but I thought that
we at least could address the false perception that people had that an electric car
had to be ugly and slow and and boring like a golf cart but you say you didn't
expect the company to be successful then why try if something is important enough
used to try even if you probably outcome is failure what's important to musk is
reducing greenhouse gases which he believes threaten the world the Tesla will go
about 250 miles on a charge and musk is building a network of charging stations
where the driver pays nothing for a fill-up he hopes to make the stations largely
solar-powered one day you can drive for free forever on pure sunlight that's the
you know message we're trying to convey so even if like this is on the apocalypse
and the grid breaks down you'll still be able to charge your car so there's a
zombie apocalypse warranty yes and if you're running from zombies it's good to know
the Model S one the highest quality rating in the history of Consumer Reports and
has the government's highest safety rating musk maybe changing the car the way
Steve Jobs changed the phone like jobs he's a perfectionist in the art of
engineering his goal wasn't to show a profit but to reveal the possibilities it is
a desire to discover that's also behind Musk's other line of vehicles only four
entities have launched a space capsule into orbit and successfully brought it back
the United States Russia China and Elon Musk this Buck Rogers dream started years
ago when he had a nutty idea to fly an experimental greenhouse to Mars but he
couldn't he discovered that the price of rockets was astronomical so now he builds
his own I had so many people try to talk me out of starting her art company it was
it was crazy what did they tell you one good friend of mine collected a whole
series of videos of rockets blowing up and made me watch those just didn't want me
to lose all my money he never did launch that greenhouse but now musk is lofting
commercial satellites and flying cargo to the space station for NASA at a fraction
of the former cost Musk's fascination with technology dates to his childhood in
South Africa he was just found everything interesting he wanted to explore
everything you know and knocked his teeth out because he was just falling off stuff
came book two actually we spoke with his mother may sister Tosca and brother
Kimball he's a guy with unlimited ambition ambition to do what not a typical type
of ambition it's it's more he just needs to be constantly his mind just needs to be
constantly fulfilled and the problems problems that he takes on therefore need to
be can become more and more complex over time in order to keep him interested he
was interested in computers early at the age of 12 he wrote the software for a
videogame and sold it against his parents wishes he set his sights on the software
capital of the world it seemed like the vast majority of such things came from the
United States I also like read a lot of comic books and they will seem to be set in
the United States it's like well this is a good place I was where I gotta go this
place he earned degrees in business and physics at the University of Pennsylvania
and asked his brother to join him in California when we moved to Silicon Valley we
had nothing so we actually lived in the office and we would sleep on the floor in
the evening and go shower at the YMCA the next morning and then we would be ready
to go before thee before some of our employees would arrive so they wouldn't think
we were actually sleeping any others in that office musk invented a program that
gave step-by-step directions between addresses that's common today in cars and
phones but in 1995 it was magic in four years he made 22 million dollars only in
America right only in America I agree absolutely next he started an online banking
firm that he grew into PayPal a system for making purchases on the Internet and you
sold PayPal to eBay for what I was about one billion dollars so that that was it
was good outcome a good outcome yes his share was a hundred and eighty million and
he bet it all on Tesla and SpaceX but at the age of 37 he hit rock bottom his first
rockets failed to reach orbit and an early model Tesla Roadster had quality
problems in 2008 the rocket company is not going well you know had three failures
great the car company is hemorrhaging money yeah and the American economy has
tanked in the worst recession since the Great Depression right what was that you're
like for you and I'm getting a boost by the way add to that that was that was
definitely at the worst year of my life that terrible year was captured in a
documentary called revenge of the electric car his plant was filled with flawed
cars that couldn't be delivered holy mackerel Jesus we have like an army of cars
here like Jesus this is frightening it's really pedal to the metal here I mean you
know each month that passes is literally costs us tens of millions of dollars I
mean we need to appreciate that to save Tesla must needed millions more from
investors his fortune was gone when we'd call people and say hey would you like to
invest they'd be angry that we just called it's like no it's lonely no no and
knowing you know various expletives he was essentially broke oh yeah in debt more
than broke more than broke yep I remember waking up the Sunday before Christmas on
in 2008 and thinking to myself and I never thought I was someone who could ever be
capable of a nervous breakdown and but I felt this was the closest I've ever come
because it seemed pretty pretty dark the story will continue after this mark toward
the end of 2008 SpaceX prepared its fourth attempt we were running on fumes at that
point we had virtually no money so a fourth failure the fourth failure would have
been absolutely game of a done done SpaceX bankrupt yes it's bad enough to have
three strikes having four strikes it's really kaput but flight four was flawless in
Musk's world it lit the darkness [Applause] then as often the week of Christmas
became a time when little boy dreams are answered NASA called and told us that
weird one a one and a half billion dollar contract and I couldn't even hold the
components like I just look I just blurt it out I love you guys they saved you yeah
they did financially and maybe even emotionally I'll tell you what that was that
that was definitely helpful yeah two days later on Christmas Eve Tesla's investors
decided to pour in more money so you were saved in the period of three days yeah by
two completely unexpected events yeah Merry Christmas yeah absolutely that's for
sure the Rockets haven't failed since his cargo capsule has docked three times with
the space station capture is confirmed and in the California plant they're fitting
seats for what they hope will be eventual manned missions SpaceX is also testing a
rocket that can be reused softly landing on a column of flame another step on a
longer journey I'd love to have SpaceX be the company that brings humanity to Mars
and I see it while I'm still alive he's at SpaceX three days a week two days at
Tesla and weekends are at home with his five sons from his first marriage and his
second wife to Lula whom he met in London it all happened very fast we were we were
engaged after I think sort of two teen weeks and knowing each other and I was 22
and it was there were all these boys and it was which was the best part and it was
it was fast and then we were in it you knew each other two weeks something before
you got engaged what was so attractive he's very charming and definitely the most
interesting and eccentric person I have ever met [Music] Tesla's stock has rocketed
up nearly 500 percent but that's not based on the cars he's selling today that
price is counting on the hope that Tesla will create an electric car at one-third
the cost of the Model S which runs about a hundred thousand dollars this is what
stands in the way this slab covered in plastic is the battery so this is
essentially the bottom of the car the front wheels would be there
the rear wheels would be right here it fills up the entire bottom of the car
that's right this is how it fits into the bottom of the chassis trouble is the
batteries so expensive must can't build a $35,000 car with acceptable range to make
Tesla successful he must reinvent battery manufacturing musk has just announced a
five billion dollar factory to be built in the US which he says will make more
lithium-ion batteries than all the other plants on earth combined Gamble's like
that have led a lot of people on Wall Street to bet against it taking investment
positions that count on Tesla's stock to fail but so far those pessimistic
investors have lost a lot of money what is it about you that seems to invite
skepticism well I think it's because we're doing these things that seem unlikely to
succeed and we've been fortunate and these thus far they have succeeded"

5.Title: "Elon Musk gives timeline for fully autonomous cars"

Transcript: "Elon Musk is no stranger to making bold predictions on the future of
autonomous cars in an interview with arc invest must give a timeline of what he
expects from fully autonomous cars we'll be ready to hit the road before we take a
listen to that though I want to bring in Tasha Keaney she's an analyst at arc
investments who was with Elon Musk when he said this so first of all tell us like
how this whole podcast came about yeah so actually through Twitter musk favorite
platform he saw a clip of me talking about Tesla arc at arc we do a lot of original
research and we focused a lot on their autonomous data advantage so he he messaged
me and he said great analysis and then I asked him to be on our podcast he messaged
you he did yeah like a DM yes the DM z-- open what did you do so we asked him to be
on the podcast and you know to our tourist surprise and and Happiness he agreed but
he's he's also he's familiar with arc because we've been very vocal about Tesla for
a long time Kathie our cio had written a letter when they were thinking of going
private so he was and asking them not to go private it's one of your biggest
Holdings you have to like balance and make sure you know all that kind of stuff so
and you are a huge bowl on the stock you have a $4,000 long-term price targets no
fair to say yes it's one of our top positions just to get that out there okay so
now let's dive into what Elan actually said here is a clip from your guys podcast
my guess as to when we would think it's safe for somebody to essentially fall
asleep and wake up the destination probably towards the end of next year that's
that's one when I would think it's most likely it will be safe enough for that I
don't know when regulators will agree I thought it was interesting how much he
talked about regulation actually and you guys asked him about regulation as well he
is very optimistic on how autonomous is going I just said he thinks somebody's
gonna be able to fall asleep in the car and be okay at another point he said like
this year you could be picked up in the parking lot by your car why so much focus
on regulation from you guys and also in his mind yeah you know I think well as we
add more autonomous features regulation becomes it comes into play a bit more and I
think in general musk has been a little bit more balanced on what he's been saying
about autopilot so I think that's why he wanted to highlight that aspect but you
know overall in the u.s. we've seen a lot of positive things on the regulation side
I mean we're really the first country to allow companies to test on public roads
and that's huge I mean you need that in order to teach a car to drive so I think
luckily will be one of the first countries to get autonomous driving and Tesla
could be one of the first companies to bring it to us now something else that I
thought was interesting is you know he again reiterated what she said a few times
that it's just simply safer for people to not be driving cars then all the data
backs it up and I think we all intuitively know that I mean driving is pretty
dangerous it's gotten a lot safer but humans are really not that good at driving
cars but it kind of is related to something else he said which is that he's an
engineer right he's not like a finance guy and I think I guess I would just ask
like when you talk to him does he is he aware of the fact that like everyone does
know self-driving cars are safer but there's just that like emotional thing of like
if there's a death in a self-driving car it seems like it's more important than a
death in a car a human's driving even though it happens at an infant tesam alrea
Ella t'v two vehicle deaths you know in in human operated car accidents yeah you
know I think I think must being an engineer really shines through it I mean not
just in in talking with him but in the company strategy the fact that there they
started as a software company they're highlighting the technology so much he
clearly spends a lot of time with autopilot team I think you know in in terms of
the death in an autonomous car so at arc we've predicted that looking at the
accident rate in airplanes that fully autonomous driving will reduce accidents by
80% that's not 100 percent I think Tesla is acutely aware of this because they
every time a Tesla crashes it's a big deal it doesn't even matter if autopilot is
on or not it's a Tesla cross it crashes it's in the news way more so than any other
automaker so so I think that they're they're aware of that fact you know that the
more important thing again what regulars want to regulators want to see and what
Tesla has said their discussions have been with those regulators is you need to
prove that it's safer than a human so Tesla's really uniquely set up to do that
because they have all this data that no one else has they billions of miles of data
soutache I'm curious to hear about what your takeaway was in terms of the biggest
concern that Elon has at the moment is he focused a lot you know primarily on the
safety end of things because another thing that kind of folds into this is just the
production right Tesla has very ambitious scale that they would like to build in
China and domestically here in the US but obviously there are reliability concerns
we've seen some of the headlines with the model three and the reliability today
even what's the kind of feel that you got from Elon in terms of where his focus is
kind of are right now so you know I think you're absolutely right the model three
is a big focus for Tesla right now they just started delivering cars to Europe and
China in terms of safety I mean that Tesla cars have proven themselves to be much
safer certainly than a gas powered car in many ways I mean even just the design of
having the battery sort of at the bottom of the car helps with that it allows you
to put in more components that that help in a crash basically they have a larger
crumple zone so I I think they're they're really focused on production of the Model
3 and they should be we want them to get as many cars on the road as possible
because they act as R&D centers and then they'll eventually enable autonomous
driving so when you were talking about trying to get as many cars on the road as
possible I mean some of his estimates were even above what you guys are modeling
for did you find that surprising gee is it believable I don't find it surprising
because Elon Musk he has a very aggressive estimates for the company he sets very
aggressive goals and they fallen short of those goals in the past but they still
achieved the impossible I mean they're still doing these incredible things they
might do them a month or two late but they do them so he takes point with that he
says like oh I just do it but I'm six months late and doing something exponentially
recall that it wasn't yeah something about how like if you if you're two weeks late
it calendar breaker telling a breakpoint right exactly exactly exactly so we're
used to that so in our models you we might put a twenty to fifty percent margin on
the time line of what he says but I mean if you achieve fully autonomous driving
that's still an amazing technological breakthrough so we don't care if he's a month
or two late because it'll probably be first still so I mean this happens to pretty
much every interview we do you walk out and you say oh I really wanted to ask him
that question I forgot what did you really want to ask him that you didn't get to
well there are so many questions that we have for Tesla so you know it well the one
you're kicking yourself about the one I'm kicking myself about well one thing
that's pretty unique about Tesla is they don't have a remote operator Network
planned for their autonomous cars so this is something that company is like active
for instance the Delphi spin-off have talked about it's basically like a tella
operation center that helps the car in times of need when you go to full autonomous
tells doesn't talked about that before we didn't get to that question but and you
know there's millions of questions that we could have asked about batteries that's
also big focus for us at our can bus but we tried to keep it to autonomous driving
yeah one day and Elon will answer all of our questions when one day I come on the
show maybe we hope all right in our Batphone yeah tasha keaney i confess thank you
so much great podcast really good to see you thanks for having me"

Based on this upper research of Tesla, discuss how you imagine Tesla's new product
development process. How does it compare to this method:
1. Idea Generation(Is the idea wroth considering)
if yes Go for point 2

2. Idea Screening (is The product idea compatiable with company

objectives,strategies,and resources?)

If yes go for point 3

3.Concept development and testing

(Can we find a good concept consumer say they would try?

If yes go for point 4

4. Marketing strategy development

(Can we find a cost-effective, affordable,marketing strategy?)

If yes go for point 5

5. Business analysis
(Will this product meet our profit goal?)
If yes go for point 6

6. Product development
(Have we got a technically and commercially sound product?)

If yes go for point 7

7.Market Testing
(Have product sales met expectations?)

If yes go for point 8 and if no go for point 9

8. commercialization
(Are product sales meeting expectations?)

If yes go for point 10 and if no go for point 11

9.Send the back for product development?

If yes Go for point 6 if no then drop it.

10.Make future plan

11.Modify the product or marketing program?

If yes then go for point 10 and If no Drop it.

If point 1,2,3,4,5,6,7 is no then drop it.

In other words how does the difficulty of evaluation of the final product impact
the NPD process and how consumers view/evaluate the product? In this question you
are working backwards. Imagine the finished product, do you need to go back and
adjust the product to make it marketable or even understandable to more than the
early adopters?

Here is a graph details the graph title was Evaluation Continuum for Product
Types.It is a line graph that shows the difficulty of evaluating goods and
services. The x-axis is labeled "Ease to Evaluate" and ranges from "Easy" to
"Difficult". The y-axis is labeled "Most Goods" and "Most Services". There are two
lines on the graph. The blue line represents "High in Search Qualities", the green
line represents "High in Experience Qualities", and the red line represents "High
in Credence Qualities".
The graph shows that goods that are high in search qualities are generally easier
to evaluate than goods that are high in experience or credence qualities. This is
because search qualities can be easily assessed before purchase, such as the price,
size, and color of a product. Experience qualities can only be evaluated after
purchase, such as the taste of food or the comfort of a chair. Credence qualities
cannot be evaluated even after purchase, such as the safety of a car or the
expertise of a doctor.
The graph also shows that services are generally more difficult to evaluate than
goods. This is because services are intangible and cannot be seen or touched before
purchase. Additionally, the quality of a service can vary depending on the provider
and the specific circumstances.

Now,Analyze Telsa relative to this graph (product service continuum).

Here are some several ans of it:

1.Relative to this graph in the text which illustrates the product service
continuum which provides a clear understanding of what an organization offers. We
can also see the high in search, experience and credence qualities. There is also
the easy to evaluate and difficult to evaluate. Automobiles are in the category of
easy to evaluate and high in search. Consumers were able to easily search for all
they wanted in a car. Tesla which was new in the market had to draw consumers to
the brand. It offered specific services to draw in consumers. Every consumer looks
forward to what a good or service has to offer.

Tesla in this space offers electric vehicles with advanced technology for
sustainable transport system which was its core product. Aside selling cars Tesla
offered associated services such as over the air software updates which kept on
improving the performance of the vehicles and its functionality. It also provided
access to super charging network which enabled long distance traveling for
electronic vehicle users. With this they really did not have to bother about
running out of battery.

Tesla offered augmented products such as auto piloting and advanced drivers
assistance which improved its functionality and also provided safety and
convenience to the drivers. Tesla also offered customization and personalization to
its vehicles allowing consumers the opportunity to select their configurations to
suit their preference. Tesla contributes to its success and differentiation in the
market due to its ability to deliver value to its customers across different
dimensions.

2.Using retention techniques, such as enhancing employee perks and offering

professional development chances, could be one viable solution to the problem with
talent management. This would be a good option to consider. Caterpillar might also
investigate potential new markets and broaden its product offerings as a means of
maintaining its competitive edge and mitigating the dangers associated with market
concentration.

Caterpillar may want to explore the possibility of forming strategic alliances with
other businesses in the technology sector or making financial investments in
research and development in order to develop new goods and services that can adapt
to the shifting requirements of the company's clientele. Caterpillar may be able to
lower its exposure to write-downs and obsolescence by implementing more effective
systems for inventory management. Before making substantial expenditures in
technology, the corporation might want to undergo extensive market research and put
experimental projects through their paces in order to reduce the risks associated
with such investments. Caterpillar may also want to think about diversifying its
business in order to lessen the effect that geopolitical concerns and currency
changes have on the company. In addition to this, it would be possible to improve
its framework for legal and regulatory compliance in order to successfully manage
legal and financial risks.

In conclusion, in order to keep its competitive edge and keep its financial
performance up over the long term, Caterpillar needs to adopt a proactive strategy
to addressing the difficulties that it faces.