2 Another important thing is to make sure you have all the elements for successful change. By using Exhibit 12.4, explain how the elements go hand in hand in the John Deere case.

Established in 1837, US firm John Deere is known for making tractors and other machinery relating to the land such as that used in construction, forestry and landscaping. It has always followed current technological developments and is now embracing the latest technology that falls under the umbrella term of industry 4.0.

This term encompasses elements such as the Internet of Things (IoT), sensors, 3D-printing, big data, drones, robots, augmented reality and cloud computing.

IoT sensors will revolutionize industries such as agriculture, making it easier to grow more crops with fewer resources. Similarly, technology such as drones and robots are increasing the amount of automation in the sector. You might not consider tractor maker John Deere as a leading technology company, but this well-established manufacturer is working hard to become just that.

The company transformed itself in 2018 with products which are sensor-loaded, data-fuelled, AI-powered agritech platforms making farming smarter and more efficient. Currently farming is largely about managing all the plants in one field in the same way, but in the future, farm managers will be able to diagnose on a more precise basis by using computer vision, AI and smart machines. For example, it will be feasible to diagnose that a certain plant is responding to the soil type in a certain way – and subsequently to prescribe the necessary treatment required – a capability entitled ‘precision agriculture’.