Updated: Tuesday, August 11th, 2009

Like many CEOs running an international business, Jim Owens of Caterpillar is planning ahead to meet profit targets in a difficult economy.

He recently assured a group of analysts and stockholders that the company is well positioned for long-term profitability under various economic scenarios.

Among other things, he outlined a plan to ensure Caterpillar generates annual profits of $2.50 per share during future recessionary conditions and confirmed the 2009 outlook for sales and revenues ranges between $32 and $36 billion.

Excluding redundancy costs, he projected the 2009 profit will be between $1.15 and $2.25 per share.

"We believe a recovery will come and that Caterpillar will benefit from the world's need for the products we make," said Owens.

He further added the company has the resources and strategies in place to prosper in every region of the world.

Owens' task is an example of the kind of challenges and opportunities facing leaders of big corporations. Those who have skillfully steered their companies through turbulent economic times often hold MBA degrees from top business schools.

According to the research company PayScale.com, average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008. However, some CEO earn in excess of $1 million a year.

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