Strategic management Background

Week 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 Microsoft® Word document and title it “Strategic Management Research Journal Part 1.”

What is a journal format?

A journal is a simple double-spaced document (it does not have to follow APA rules) but I highly suggest you include a reference page (which you will need for the Week 5 presentation). Please include your name, and the date. A simple header should be placed for each of the numbered prompts from the list below. As an example, the first prompt might be titled, “Justify Guiding Principles” or it might be shortened to just prompt “1”.

To earn the most points, be sure you fully answer each of the prompt as it is written.

Write a 500- to 700-word response to the following prompts as your 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.

Note: You will use information from this entry in your Strategic Management Research Project Presentation due in Week 5.

Overview
The intention of the Strategic Management Project is to provide you practical experience with the elements of strategic management. The project is spread across the 5-week period of the course. Weeks 1 4 provide an opportunity to put key terms into practice by appraising the strategic planning elements of Caterpillar Inc. through documentation in the Strategic Management Research Journal. The Week 5 concluding assignment showcases your understanding of strategic management and improvement in the formulation of a presentation to Caterpillar Inc.’s leadership team.
For purposes of the Strategic Management Project, you will operate as if you are a new hire at the Caterpillar Inc. headquarters in the role of Assistant Strategic Development Analyst.
Assistant Strategic Development Analyst Job Description
• Maintain a Strategic Management Research Journal in which you:
o Appraise Caterpillar Inc.’s corporate data, competitors, and associated business information.
o Document background information to include previous and current strategic management of Caterpillar Inc.
• Assess the strengths and weaknesses of strategic management of Caterpillar Inc., based on your analyses, and provide information in a presentation to Caterpillar Inc. leadership.
• Recommend strategic management actions to ensure future success in a presentation to Caterpillar Inc.’s leadership team.
About Caterpillar Inc.
The following is derived from the Caterpillar Inc. website:
Caterpillar Inc. is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Caterpillar’s enterprise strategy focuses on solutions to help customers build a better world and allows the company to deliver profitable growth for their shareholders. The company’s corporate governance program ensures they serve the interests of stockholders and other stakeholders with the highest standards of responsibility, integrity, and compliance with all laws. Caterpillar’s global presence, product breadth, and financial strength enables the company to be competitive in today’s global marketplaces.

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