Create a 12- to 14-slide presentation, complete with speaker notes for Caterpillar Inc.’s leadership team, in which you summarize your key findings, propose recommendations, and provide rationale for your recommendations.
Address the following topics and prompts in your presentation:
Topic: Caterpillar Inc.’s Vision
- Summarize your evaluation of the alignment between what Caterpillar Inc. is currently doing and their mission, vision, or values statement.
- Recommend any changes you would make to Caterpillar Inc.’s mission, vision, or values statements to improve organizational goals.
Topic: Caterpillar Inc.’s Competitive Advantages and Disadvantages
- Summarize your analysis of the strengths and weaknesses of Caterpillar Inc.’s competitive advantages and disadvantages.
- Recommend operational changes to improve Caterpillar Inc.’s competitive advantages and business performance.
- Propose a plan to measure and monitor the effectiveness of your recommended operational changes in Caterpillar Inc.’s competitive advantages to achieve organizational goals.
Topic: Caterpillar’s Global Strategy
- Summarize your assessment of Caterpillar Inc.’s global strategy.
- Recommend operational changes to improve Caterpillar Inc.’s global strategy and business performance.
- Propose a plan to measure and monitor the effectiveness of your recommended operational changes to Caterpillar Inc.’s global strategy to achieve organizational goals.
For an organization, it is essential to formulate values, mission, and vision to achieve the organizational objectives. These values, mission, and vision are proportional to the competitive advantage of the organization. Through the enhancement of the competitive advantage, the global strategy of the organization can be modulated. In this presentation, Caterpillar is being used as the referential organization. It is a renowned organization in the world. It is famous for its brand value and efficient services.
Caterpillar’s mission, vision, and values
The use of the values, mission, and vision provides the classified direction for everything that occurs in an organization. It helps every stakeholder of the organization to be focused and attracted toward the organizational objectives. Through the use of the core merit of the organization, the enhancement of the organizational objectives is being achieved. Caterpillar is an organization that is listed on the Fortune 100 list.
The mission, vision, and values of Caterpillar are as follows:
- Mission: The mission of the organization is to provide economic progression through energy and infrastructure development. It can help to provide solutions, and it also provides relinquishing of communities and protection of the earth (Caterpillar, 2021). It can be understood that through the enhancement of the mission, the conduction of the business dynamics is being triggered.
- Vision: The vision of the organization is to provide all kinds of resources to human beings. These resources are reliable power, food, sanitation, clean water, and shelter. Through this vision, the organization can enhance the global needs for the restoration of brand value.
- Values: The value of the organization is to provide improvising the quality of communities and environment so that everyone can work and live with proper stability.
Caterpillar is an organization that provides industrial apparatus to global demands. Through this purpose, the vision, mission, and values of Caterpillar can be formulated in a recommended way. Caterpillars have to provide innovation as the key catalyst in their vision, mission, and values.
The recommendations based on values, mission, and vision are as follows:
- Values: To provide sustainable and environmentally friendly executions for the betterment of the globe.
- Mission: To provide industrial accession to underdeveloped nations.
- Vision: To provide the circulation of renewable resources to global nations (Comparably.com, 2021).
Through this recommendation, Caterpillar can have better business dynamics. It can help to provide better satisfaction to the stakeholders. It can also help to provide technological improvement in organizational productivity.
Caterpillar’s strengths and weaknesses
The strengths and weaknesses are the two dimensions through which the business dynamics of an organization are being executed.
The strengths of the Caterpillar are as follows:
- It has 97,300 active employees.
- It has various subsidiaries that can be efficient and classified in nature.
- It has an operating income of 4.55 billion US dollars (Caterpillar, 2021).
- It has a net income of 2.99 billion US dollars.
- It has global circulations of the business dynamics.
The determination of the weaknesses of the organization helps to understand the improvements which need to be executed. The weaknesses of Caterpillar are as follows:
- Caterpillars have some controversial issues based on tax deferral techniques.
- Caterpillars have some problems based on Israeli defense force sales.
- Caterpillar also has problems based on trademark claims.
Caterpillar’s business performance and competitive advantage
The business performance of Caterpillar is based on research and development. This research and development are being modulated through the use of innovation. The business performance of Caterpillar is being regulated through the use of satisfaction of stakeholders and enhancement of business reputation (Caterpillar, 2021). Through the business performances, Caterpillar can use the opportunities, which include maximization of revenues through increment and circulation, and it helps to increase the competitive advantage of the organization. It is essential for Caterpillar to circulate Asian markets to have a better competitive advantage and enhancement of brand reputation.
1. The recommendations that can be induced for Caterpillar are based on innovation, technological improvising, and the formulation of technological communities.
2. It can help Caterpillar to have a network of businesses that can enhance its marketing mechanisms.
3. As the enhancement of distributors’ ships from China and be advantageous (Caterpillar, 2021).
4. Caterpillar also needs to do proper surveys based on industrial demands and needs. It can help the organization to make improvising products that are tensile and durable.
Caterpillar’s global strategy
The Global strategy of Caterpillar is the maintenance of legacy and commitment to meet the needs of the stakeholders. The unification of the values and relinquishment of customers and employees is one of the executions of Caterpillar. Caterpillar has its marketing enhancements in North America, South America, Europe, and Australia. It has collaborations with other industrial companies to increase the business dynamics with efficiency and proficiency. The global strategy of Caterpillar is also based on the Operating and Execution model, and it provides the stakeholders a chance for the formulation of a better world.
For the enhancement of global circulation, it is essential for Caterpillar to induce marketing dynamics in African and Asian nations. It can help to provide better business executions with high demand and productivity (Panmore, 2018). Caterpillar is also required to provide innovation based on material modulation and has to be a dimension that can classify the productivity of the organization. Collaboration or joint ventures with developing and under-developing nations are essential.
The proposal plan that is required to be conducted is based on five dimensions, and these are:
1. Integrity: It provides maintenance of ethics.
2. Excellence: It helps the organization formulate ambitious objectives.
3. Teamwork: It can help to provide the essence of success.
4. Commitment: It provides the enhancement of responsibility.
5. Sustainability: It helps to provide environmental consciousness.
Therefore, it can be concluded that Caterpillar is a famous organization, but it needs to be improvised through the enhancement of innovation as the key significance. The business dynamics have to be regulated through the use of research and studies, which can help to provide better execution of productivity. It is also dependent on the circulation of efficiency for the enhancement of business dynamics.
Caterpillar (2021) caterpillar, Retrieved from: https://www.caterpillar.com/ [Retrieved on: 19 November, 2021]
Caterpillar.com (2021) Caterpillar, Retrieved from: https://www.caterpillar.com/en/company/strategy-purpose/strategy.html [Retrieved on: 19 November, 2021]
Comparably.com (2021) Caterpillar Inc. Mission, Vision & Values, Retrieved from: https://www.comparably.com/companies/caterpillar/mission [Retrieved on: 19 November, 2021]
Panmore (2018) Caterpillar Inc. Vision, Mission, Intensive Strategy, Five Forces, SWOT, Retrieved from: http://panmore.com/caterpillar-inc-strategic-analysis-vision-mission-swot [Retrieved on: 19 November, 2021]