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3 pages/≈825 words
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APA
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Management
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English (U.S.)
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Strategic Management Research Journal, Part 2 Strategic management in Caterpillar Incorporated (Essay Sample)

Instructions:

Familiarize yourself with the following terms and concepts discussed this week in preparation for completion of this assignment: market capitalization, economic value created, sustainable strategy, business-level strategy, differentiation strategy, strategy canvas.
Create a 825 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:
Describe the role of strategic planning in achieving a competitive advantage.
Assess Caterpillar Inc. to determine whether their top focus is accounting profitability, shareholder value creation, or economic value creation.
Assess whether Caterpillar Inc. leverages the appropriate value and cost drivers for their business strategy.
Analyze the strengths and weaknesses of Caterpillar Inc’s competitive advantages.
Evaluate the influence of ethics, social responsibility, and legal considerations on strategic planning.
Discuss the value of corporate social responsibility (CSR), and determine if Caterpillar Inc.’s CSR meets those values.
Analyze the role of ethics and social responsibility in developing Caterpillar Inc.’s strategic plan while considering stakeholder needs and agenda.
Cite at least 3 credible and relevant references.

source..
Content:


Strategic management in Caterpillar Incorporated
Name
Institution of affiliation
Strategic management in Caterpillar Incorporated
Strategic management is vital for the success of any business organization. It involves a set of managerial and leadership actions and decisions that dictate how a corporation is run. Careful consideration of both internal and external environments of the organization is crucial before the development of strategic plans. The managers must have a systematic way of analyzing these environments and a means of assessing the weaknesses and strengths of the organization. Besides, every firm must be able to identify the opportunities that give it a competitive advantage over others and external threats that it may receive. Caterpillar Inc. is one of the firms that utilize strategic management approaches to plan, organize, lead, and control the entire systems.

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