Read the Strategic Management Project Background document uploaded below
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
Create a Word document and title it Strategic Management Research Journal Part 1. Use a Title page and a References page with at least three references. No running head is required, but do use headings to separate portions of your paper, and remember to cite your sources in the main body of your paper).
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.