question archive Review the resources listed at the end of this assignment along with the terms and concepts discussed this week to prepare for this assignment: strategic management competitive advantage strategic plan mission statement vision statement core values statement AFI Create a Word document and title it Strategic Management Research Paper/Journal Part 1
Review the resources listed at the end of this assignment along with the terms and concepts discussed this week to prepare for this assignment: strategic management competitive advantage strategic plan mission statement vision statement core values statement AFI Create a Word document and title it Strategic Management Research Paper/Journal Part 1
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Review the resources listed at the end of this assignment along with the terms and concepts discussed this week to prepare for this assignment: strategic management competitive advantage strategic plan mission statement vision statement core values statement AFI Create a Word document and title it Strategic Management Research Paper/Journal
Part 1. Write a 700-word response to the following sections as your Paper/journal entry: Justify the guiding principles required for preparing effective statements that describe the mission, vision, and the core values of an organization as covered in the assigned reading. Compare whether Caterpillar Inc.’s mission, vision, and core values conform to the guiding principles in the text and support organizational strategic planning principles as justified in prompt #1. Refer to the Caterpillar Inc. website listed in the Resources section below. Assess what Caterpillar Inc.’s current competitive advantages and disadvantages are by considering their business partners, allies, and general operations. Research the assignment resources listed below. Based on your research, evaluate Caterpillar’s current competitive advantages and disadvantages. Submit your assignment Paper/Journal as a 7th edition APA Microsoft Word document to include a Title page, Introduction, body, conclusion and Reference page. Please Review the Assignment Format Sample APA paper attached below:
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Answer:
Strategic Management
Strategic Management is the type of managing a company that looks at the long term sustainable growth rather than the short term. Strategic Management plays an important role in shaping the vision and mission of the company.
There are various guiding principles that are taking the strategy of Caterpillar to the next level. The core principles are:
1. Operational Excellence
2. Expanded Offerings
3. Services
Competitive Advantage:
Based on these guiding principles company is achieving a competitive advantage over its competitors. This Competitive advantage is also lead to continuous Innovation that the company is making in it day to day operations. Caterpillar is getting its success due to sustainable development that they are doing which is clearly mentioned in the mission & vision statement of the company.
Strategic Plan:
Their strategy is to utilised the resources, products, services, environments and solutions effectively such that they are able to meet the mission & vision of the company. They apply new and latest technology & innovation to improve the productivity of their system and products.
Mission Statement:
The mission of caterpillar is very ground to earth and it takes care of basic needs of an individual such as water, shelter, sanitation, food, and power. These basic elements are fulfilled in environmentally sustainable way such that it improves the quality od life and environment.
Vision Statement:
Their mission statement is for the community as a whole making economic growth through infra and energy development.
Core Value Statement:
The core value statement is based on three basic principles:
1. Prevent Waste
2. Improve Quality
3. Develop Better system
