Review the concepts in Chapter 8 on diversification and strategic fit to help you with this exercise. Read about ITT, located at the end of chapter material. Also, visit the company’s website at www.itt.com
ITT is a technology-oriented engineering and manufacturing company with the following business divisions and products:
• Industrial Process Division—industrial pumps, valves, and monitoring and control systems; aftermarket services for the chemical, oil and gas, mining, pulp and paper, power, and biopharmaceutical markets.
• Motion Technologies Division—durable brake pads, shock absorbers, and damping technologies for the automotive and rail markets.
• Interconnect Solutions—connectors and fittings for the production of automobiles, aircraft, railcars and locomotives, oil field equipment, medical equipment, and industrial equipment.
• Control Technologies—energy absorption and vibration dampening equipment, transducers and regulators, and motion controls used in the production of robotics, medical equipment, automobiles, sub-sea equipment, industrial equipment, aircraft, and military vehicles.
Step 2: Respond to Questions.
After reading the case above, respond to the following questions:
Explain why ITT’s portfolio of business units reflect a combination of related and unrelated diversification strategy.
Describe the potential benefits that could be generated from ITT’s business units.
Could it be possible for ITT businesses to use the economies of scope to reduce costs? Explain why or why not.
Based on ITT’s history, how have the company’s strategies changed from then to now? Explain.
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