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ITW Case Study
1. In its first 100 years, what type of diversification strategy did ITW use, and how has it changed since 2012? Do you think managers were encouraged to over diversify? Explain your answer.
Founded in 1912, Illinois Tool Works (ITW) is a global manufacturing company with a long history of diversification. In its first 100 years, ITW used an aggressive diversification strategy, acquiring hundreds of small companies in a wide range of industries. However, this strategy began to change in the early 21st century, and by 2012 ITW had sold off many of its non-core businesses and refocused its attention on its core businesses of welding, automotive, and construction. This new strategy has been successful, and ITW has continued to grow and prosper in the years since. While its portfolio of businesses may have changed over time, ITW remains a diversified company with a long history of success. Today, it focuses on businesses that meet the needs of large customers with specific solution requirements and it also produces specialty products businesses included consumer packaging products such as zippers on re-sealable bags and multi-packaging carriers (six-pack rings); software and equipment for warehouse automation; single-use products for the medical industry; aircraft ground support equipment; and, coating and metalizing businesses for the branding and security markets (ITW Case, n.d., p. 3). On top of all that, it still does its food equipment, automotive OEM, test measurement and electronics equipment, welding equipment, power and fluids, and construction products. It is very well-diversified and manufactures a range of industrial products.
In recent years, however, the company has come under criticism for allegedly encouraging...…the production process. This appears to have been the case with ITW. But now that it has incorporated more specialty products into its manufacturing, it very likely has changed its organizational structure. For as manufacturing processes become more complex, organizations tend to adapt their structures to support the diversification of production. In many cases, this has meant moving away from the traditional hierarchical model in favor of a more flat and decentralized approach.
This change in structure is often necessary to allow for greater agility and flexibility in the face of ever-changing market demands. Additionally, it can help to promote creativity and innovation by giving employees more freedom to experiment with new ideas. While there is no one-size-fits-all solution for organizational structure, the ability to adapt and change is becoming increasingly important in the world of…
References
ITW Case. (n.d.). IVEY Publishing, 1-9.
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