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Familiarize yourself with the following terms and concepts discussed this week in preparation for completion of this assignment: strategic management, competitive advantage, strategic plan, mission...

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Familiarize yourself with the following terms and concepts discussed this week in preparation for completion of this assignment: strategic management, competitive advantage, strategic plan, mission statement, vision statement, core values statement, AFI.


Create a strategic management journal. You will use information from this entry in your presentation due in Week 5.


Respond in your journal entry in 700- to 1050- words to the following prompts:

  • Determine how AFI strategy framework acts as an integrative facilitator for strategic management planning.
  • Identify the guiding principles used for preparing effective statements that describe the mission, vision, and the core values of an organization.
  • Review the mission statement in Chapter 1 of Strategic Management: Concepts (p. 13), and determine whether the Caterpillar Inc. mission statement conforms to the description in the text or not. State the reasons the mission statement conforms or does not conform.
  • Research public information, such as news releases, financial reports, and marketing analyses. Based on your research evaluate the alignment between what Caterpillar is currently doing and their mission, vision, or values statement.


Citeat least 3 credible and relevant references.


Formatyour journal entry consistent with APA guidelines.


Answered Same Day Dec 03, 2021

Solution

Ishika answered on Dec 04 2021
137 Votes
Caterpillar: strategic managaement
Caterpillar: strategic managaement
Table of Contents
CATERPILLAR:    2
Cu
ent strategies:    2
PESTEL Analysis:    2
SWOT Analysis:    3
Future strategic planning of CATERPILLAR:    3
Recommendations:    4
CATERPILLAR:
The top ten industrial supply chains named Caterpillar in 2010 were among the top ten lists by Gartner's Inc. Doug Oberhelman, President, and CEO of Caterpillar have also named Fortune's 2010 among the top 50 employees in the business. Caterpillar therefore actively participates in and competes best for the environment in the development of its business. (Heil, 2012)
Cu
ent strategies:
The world's number-one construction and mining equipment, diesel, gas and natural-gas tu
ines maker is Caterpillar Inc. The company continually develops and expands its business day by day. Caterpillar markets its goods around the globe such as China, India, Canada, Russia, etc. Its business is not just confined to Europe. At a very reasonable price, Caterpillar offers its customers the highest-quality product and also has good customer relationships. In 110 plants worldwide, In nearly 200 countries, Caterpillar manufactures its products and sold its products. Caterpillar sells separately, which accounts for about 66 percent of total sales. Caterpillar uses many business strategies to develop it and to compete with its competitors effectively (Saravanan. G & Dr. P. Vikkraman, 2012). Numerous analytical methods such as the PESTEL analysis for macro-environment analysis, SWOT analysis for resource efficiency analysis and Porter Fif Force Analysis will also be used for the analysis of the industry, consumers, rivals, suppliers, etc. For the evaluation and assessment of the company's cu
ent strategies.
PESTEL Analysis:
Political factors: Because Caterpillar works and serves consumers all over the world, political factors should be understood.
Economic factors: recession, inflation, GDP growth, population growth, etc. Economic factors include. In the 1980s, Caterpillar experienced a very severe recession. In order to maintain a balance, the Company must increase the prices of raw materials in order to raise the production cost of Caterpillar (Yüksel, 2012).
Social Factors: In many diverse countries, Caterpillar operates. It is therefore essential while framing business strategies, to consider social factors....
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