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Strategic Management

Read the document.

Review the resources listed at the end of this assignment along with the terms and concepts discussed this week to prepare for this assignment:

strategic management
competitive advantage
strategic plan
mission statement
vision statement
core values statement
Create a Word document and title it Strategic Management Research Journal Part 1.

Write a 500- to 700-word response to the following prompts as your journal entry:

Justify the guiding principles required for preparing effective statements that describe the mission, vision, and the core values of an organization as covered in the assigned reading.
Compare whether Caterpillar Inc.’s mission, vision, and core values conform to the guiding principles in the text and support organizational strategic planning principles as justified in prompt #1. Refer to the Caterpillar Inc. website listed in the Resources section below.
Assess what Caterpillar Inc.’s current competitive advantages and disadvantages are by considering their business partners, allies, and general operations. Research the assignment resources listed below. Based on your research, evaluate Caterpillar’s current competitive advantages and disadvantages.
Note: You will use information from this entry in your Strategic Management Research Project Presentation due in Week 5.

Sample Solution

Pennsylvania. When the monopolies decrease the wages down an enormous rate, workers of an industry will create labor unions and try to protest against them decreasing their, already low, wages. The decreasing of the wages were so bad, that some workers only earned $5 a week. The Homestead Act in 1892 was between the “Amalgamated Association of Iron and Steel Workers” and the “Carnegie Steel Company”. It resulted in that the strikers were defeated and a major setback in the unionization of the steel workers. Even in today’s age, monopolies and big businesses can affect workers really harsh. If businesses spread out really big, they do not leave workers large opportunities for different jobs because they are in charge by themselves for this entire category. There is no competition anymore left. Monopoly and Monopsony are closely related. Easier explained: Monopolies are the only seller, and monopsonies are the only buyer. Like the independent journalist, contributing as a writer for the “New York Times” and also the “New Public”, Bryce Covert states: “Monopoly power allows a company that has eaten up an entire industry to fix prices for consumers, driving them higher than they would be if other companies were able to compete in the same market and offer lower prices.” (Covert, 1). If there are no competitions between businesses and industries, one single company can rule their wages, prices etc. all by themselves. And if there actually is a smaller company in the same place, the monopoly can destroy the little business by setting their own prices as low as possible, so all the customers will go to their shop, and so the small business will go broke. The scary thing is, that some companies do not seem like a monopoly at the very beginning, because nobody was paying attention while there were growing their monopoly power. For instance, “Amazon does not, in some respects, look like a monopoly” (Meyer, 3). Three years ago, in 2015, Amazon had less worth than Walmart, but today it is almost three times more worth than the “big-box-king” (Meyer, 3). A quick statistic: Around 44 cents of every single dollar which an American is spending online, goes to Amazon. Not even close, but the next biggest online retailer is eBay, with only six cents of every dollar. Even when the conditions were different back then, the problems and issues are still pretty similar. Jobs and politics back then in the Gilded Age were different than today. Back then in the Gilded Age, most of the employees do not have to have a high degree or at least the requirement were not as strict as today. Today in order to obta

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