MGT 498 American Military University Week 1 Strategic Management Journal

Review the resources listed at the end, along with the terms below.

• strategic management
• competitive advantage
• strategic plan
• mission statement
• vision statement
• core values statement
• AFI

Create a Word document and title it Strategic Management Research Journal Part 1.

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.

Resources

• Strategic Management Project Background
• Caterpillar Inc. website
• Research Caterpillar’s Annual Report
• Research CATERPILLAR public information, such as news releases, financial reports, and marketing analyses.

BACKGROUND

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:
  • Appraise Caterpillar Inc.’s corporate data, competitors, and associated business information.
  • 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.