Introduction to John Deere
John Deere, a blacksmith from Vermont, revolutionized agriculture by creating innovative equipment, transforming the industry and shaping the world, leaving a lasting legacy as a global empire with a market cap of $102.51 billion, specializing in agricultural, construction, and forestry equipment.
Early Life and Career
John Deere established his shop in Grand Detour, Illinois, after the economy in New England collapsed in 1836. He noticed local farmers struggled with cast iron plows in the sticky Midwest soil and created a new plow using steel from a broken saw blade, inventing the self-scouring plow.
Expansion and Growth
As his products gained recognition, John Deere considered expanding production. He met Leonard Artis, a blacksmith, in 1843, and they decided to form a partnership to construct factories for plow production. The company sold over 10,000 plows in 1855, earning them recognition, and was officially incorporated as Deere and Company in 1864.
- Developed the Hawkeye riding cultivator in 1863
- Introduced marketing centers and independent retail dealers, leading to a significant increase in sales nationwide
- Won a silver medal at the 17th annual Illinois State Fair, stabilizing the company
Global Expansion
Deere and Company expanded globally by buying a German tractor manufacturer and opening a foreign manufacturing plant in Mexico in 1956. The company introduced a credit company to finance domestic purchases of its equipment and established new dealerships to support its construction machinery lineup.
- Supported farmers in 53 countries with financial solutions for decades
- Introduced new product lines, including lawn and garden tractors with attachments
- Established a centralized headquarters in Moline, Illinois
Modernization and Innovation
John Deere introduced its 7,000 series tractors in 1994, featuring powerful engines and user-friendly controls, and later introduced the 8,000 series in 1997 with electronic fuel injection and advanced transmission systems. The company acquired a forestry equipment producer, established production facilities in India, Brazil, Russia, and China, and set up technological centers worldwide.
- Acquired Blue River Technology in 2017, which uses machine learning to improve farming by reducing herbicide use
- Celebrated its 186th anniversary in 2023, promising to lead the agricultural market with innovation and sustainability
- Manages agricultural equipment and construction industries globally, with a total revenue of $61.2 billion and a market share of 35%
Sustainability and Future Plans
John Deere aims to reduce waste intensity by 15% by 2030 and follows the strategies of its founder, designing machinery based on the needs of farmers. The company continues to innovate and expand, ranking 64th on the global Fortune 500 in 2024.
Key Vocabulary
| Term | Pronunciation | Definition | Example Usage |
|---|---|---|---|
| Revolutionized | /ˌrɛvəˈluːʃənaɪzd/ | Completely changed or transformed something | John Deere revolutionized agriculture by creating innovative equipment. |
| Legacy | /ˈlɛɡəsi/ | A gift or property left to someone in a will, or something that is left or remains after someone has gone | John Deere left a lasting legacy as a global empire in the agricultural industry. |
| Market cap | /ˈmɑːrkɪt kæp/ | The total value of a company’s outstanding shares | John Deere has a market cap of $102.51 billion. |
| Specializing | /ˈspɛʃəlaɪzɪŋ/ | Becoming an expert in a particular area or activity | John Deere is specializing in agricultural, construction, and forestry equipment. |
| Cast iron | /kæst ˈaɪərn/ | A type of metal alloy that is hard and brittle | Local farmers struggled with cast iron plows in the sticky Midwest soil. |
| Self-scouring | /sɛlf ˈskaʊərɪŋ/ | Able to clean itself, especially of dirt or other substances | John Deere invented the self-scouring plow. |
| Partnership | /ˈpɑːtnərʃɪp/ | A relationship between two or more people or organizations that work together to achieve a common goal | John Deere formed a partnership with Leonard Artis to construct factories for plow production. |
| Incorporated | /ɪnˈkɔːpəreɪtɪd/ | Formally created as a company with its own legal identity | The company was officially incorporated as Deere and Company in 1864. |
| Expansion | /ɛkˈspænʃən/ | The act of becoming or making something larger or more extensive | Deere and Company expanded globally by buying a German tractor manufacturer. |
| Global | /ˈɡloʊbəl/ | Relating to the whole world, or all the people and countries in it | Deere and Company expanded globally, supporting farmers in 53 countries. |
| Modernization | /ˌmɒdərnaɪˈzeɪʃən/ | The act of making something modern, or up-to-date | John Deere introduced its 7,000 series tractors in 1994, featuring powerful engines and user-friendly controls. |
| Innovation | /ˌɪnəˈveɪʃən/ | The act of introducing new or original ideas, methods, or products | John Deere continues to innovate and expand, ranking 64th on the global Fortune 500 in 2024. |
| Sustainability | /səˌsteɪnəˈbɪlɪti/ | The ability to maintain or support a process without depleting natural resources | John Deere aims to reduce waste intensity by 15% by 2030, following sustainable practices. |
| Legacy | /ˈlɛɡəsi/ | A gift or property left to someone in a will, or something that is left or remains after someone has gone | John Deere left a lasting legacy as a global empire in the agricultural industry. |
| Fortune 500 | /ˈfɔːrˌtʃuːn faɪv ˈhʌndrəd/ | An annual list of the 500 largest and most successful companies in the United States | John Deere ranked 64th on the global Fortune 500 in 2024. |
| Machine learning | /məˈʃiːn ˈlɜːrnɪŋ/ | A type of artificial intelligence that involves training machines to learn from data and make predictions or decisions | John Deere acquired Blue River Technology, which uses machine learning to improve farming by reducing herbicide use. |
| Herbicide | /ˈhɜːrbɪsaɪd/ | A chemical substance used to kill plants, especially weeds | John Deere acquired Blue River Technology, which uses machine learning to reduce herbicide use in farming. |
| Waste intensity | /weɪst ɪnˈtɛnsɪti/ | The amount of waste produced per unit of production or activity | John Deere aims to reduce waste intensity by 15% by 2030. |
How John Deere Went From A Small Local Company To A Billion Dollar Business 🎓
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Grammar Focus
Grammar Focus: The Use of the Present Perfect Tense to Describe a Company’s History and Achievements
The present perfect tense is used to describe an action that started in the past and continues up to the present moment, or an action that happened at an unspecified time in the past and has a connection to the present. In the context of a company’s history, it can be used to describe achievements, expansions, and innovations that have occurred over time and have a lasting impact on the company’s current situation.
