Strategic Management Research Journal, Part 4 Business Essay
Familiarize yourself with the following terms and concepts discussed this week in preparation for completion of this assignment: vertical integration, taper integration, backward vertical integration, forward vertical integration, strategic alliances, global strategy, international strategy, innovation.
Create a 700 to 1,050-word entry in your strategic management research journal. You will use information from this entry in your presentation due in Week 5. Respond to the following prompts in your journal entry:
Identify Caterpillar Inc.’s short-term versus long term goals.
Evaluate how mergers and acquisitions in the past 5 years have contributed to Caterpillar Inc.’s performance.
Assess Caterpillar Inc.’s global strategy (international, multi-domestic, global-standardization, or transnational).
Discuss the types of innovation Caterpillar Inc.’s uses such as radical incremental, disruptive, and architectural innovation. Identify types of innovation Caterpillar Inc. has used over time.
Strategic Management Research Journal, Part 4
Author`s Name
Institutional Affiliation
Strategic Management Research Journal, Part 4
Caterpillar Inc. is a well-known manufacturer of heavy machinery equipment such as diesel engines, bulldozers, trucks, and wheel loaders. The company offers different services that include funding and insurance in addition to the maintenance and training of personnel. The company has diversified in various commodities and services on a worldwide perspective. The company has its headquarters in California, and since its start in 1925, it is the leading supplier of construction machinery on the globe. However, it competes with other larger firms such as Mitsubishi and Toyota that forces them to have an excellent strategy to overcome their competitors. Despite stiff competition, it has remained a leader in the business of construction and heavy machinery equipment.
The company has both short-term and long-term goals it plans to execute towards attaining a stable economy. It has designed new facilities in the construction, according to Leadership in Energy and Environmental Design. Its central aim is to maintain a green economy to avoid the global warming effect that could affect weather and climate changes. It has reduced energy intensity by almost half to prevent wastage of materials on the universe. It promotes recycling resources of energy to limit wastage of raw materials used for energy production such as wind, water, and geothermal products. Caterpillar Inc. has reduced water consumption by 50 percent to avoid wastage of water resources. Besides, the company has the aim of reducing injuries in the employees, which will enhance the well-being of the public (Mojica, Petersen, Hansen, Powell & Hedengren, 2017). It helps the country to save on the medical facilities, as there are little instances of injuries among its employees.
Furthermore, the company has long-term intentions that are the core values driving it for future growth. Waste prevention is one of the standing goals of the company to promote a sustainable environment (Mojica, Petersen, Hansen, Powell & Hedengren, 2017). It helps to improve the efficiency of our services, products, and offering the best solutions for the future. The approach helps in minimizing material resources such as land, water, and energy for future consumption. It has preserved the environment by reducing the impacts of materials to the global environment and communities. Improve the quality of services according to the needs and demands of technology and consumers. Quality-based products such as construction and heavy machinery equipment offer the best services and solutions to technology advances and customers' preferences. The company employs the best employees in the job sector to provide quality services to communities and environments.
Caterpillar Inc. develops better systems to utilize resources optimally. It keeps the resources in the circular flow to recycle materials for the intended purpose to avoid wasting of resource materials. Better systems reuse materials to eliminate pollution of the environment through waste dumping. It helps in maintaining a clean environment that has economic, social, and environmental benefits. The company ha...
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