Strategic Management Research Journal, Part 3 Management Essay (Essay Sample)
Familiarize yourself with the following terms and concepts discussed this week in preparation for completion of this assignment: organizational structure, organizational culture, inertia, Holacracy, PESTEL model.
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:
Assess whether Caterpillar Inc. is using the appropriate measures to verify its strategic effectiveness.
Summarize Caterpillar Inc.’s organizational structure.
Determine whether Caterpillar Inc.’s organizational structure is considered a traditional organizational structure or a Holacracy.
Detail why it is important for Caterpillar Inc. leadership to study and understand the company’s internal and external environments.
Evaluate Caterpillar Inc.’s competitive position and how they have responded to shifts in the external and internal environments.
Strategic Management Journal Part 3
Strategic Management Journal
Measures Used to Verify Strategic Effectiveness at Caterpillar
One of the easiest ways of determining whether a strategy is effective in an organization is by linking the strategy with set goals and considering the plan to achieve the goals through what means. With all these considerations taken care of, an approach is then said to be effective if the allocated resources are used appropriately to help the organization to attain the organization’s objectives (Rothaermel, 2017). In the case of Caterpillar Inc., the strategy used in achieving growth, which is its primary objective, is allocating more resources on business areas that present high values. This is done through the Operating and Execution model (Caterpillar, 2019). The model does seem effective since, through it, the company gets to foresee potential opportunity that needs to be capitalized before the competitors hence placing the company in a competitive advantage position. This model is, therefore, an appropriate framework for caterpillar since it verifies the effectiveness of the strategy before the implementation.
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