Familiarize yourself with the following terms and concepts discussed this week in preparation for completion of this assignment: strategic management, competitive advantage, strategic plan, mission statement, vision statement, core values statement, AFI.
Create a strategic management journal. You will use information from this entry in your presentation due in Week 5.
Respond in your journal entry in 700- to 1050- words to the following prompts:
Determine how AFI strategy framework acts as an integrative facilitator for strategic management planning.
Identify the guiding principles used for preparing effective statements that describe the mission, vision, and the core values of an organization.
Review the mission statement in Chapter 1 of Strategic Management: Concepts (p. 13), and determine whether the Caterpillar Inc. mission statement conforms to the description in the text. State the reasons the mission statement conforms or does not conform.
Research public information, such as news releases, financial reports, and marketing analyses. Based on your research evaluate the alignment between what Caterpillar is currently doing and their mission, vision, or values statement.
no hoping you can find the mission statement for caterpillar, it is suppose to be in our study guide but even looking on page 13 of the text I don’t see it.
Visionary companies, such as 3M, General Electric, Procter & Gamble (P&G), and Walmart, provide more aspirational ideas that are not exclusively financial. The upscale retailer Nordstrom’s vision, for example, is to provide outstanding service every day, one customer at a time. Visionary companies often outperform their competitors over the long run. Tracking the stock market performance of companies over several decades, strategy scholars found that visionary companies outperformed their peers by a wide margin.19 A truly meaningful and inspiring vision makes employees feel they are part of something bigger. This is highly motivating and, in turn, can improve firm financial performance.
Building on the vision, organizations establish a mission, which describes what an organization actually does—that is, the products and services it plans to provide, and the markets in which it will compete. People sometimes use the terms vision and mission interchangeably, but in the strategy process they differ.
▪ A vision defines what an organization wants to accomplish ultimately, and thus the goal can be described by the infinitive form of the verb starting with to. As discussed in Strategy Highlight 1.1, TFA’s vision is to attain an excellent education for all children.
▪ A mission describes what an organization does; it defines how the vision is accomplished and is often introduced with the preposition by. Accordingly, we can recast Page 14TFA’s mission that it will achieve its vision by enlisting, developing, and mobilizing as many as possible of our nation’s most promising future leaders to grow and strengthen the movement for educational equity and excellence. (See Exhibit 1.1).
That is page 13 but I think she may have forgot to update the assignment. I am going to ask and get back to you. Sorry about that.
The attached doc is what I found, and what we will base the next 4 weeks on, that’s if you want to help all 4 weeks and you understand what we are doing? And of course I will upload homework weekly.