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 500 to 900 -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:
- 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.
- Use at least two scholarly sources. Be sure to use Rothaermel, F. T. (2018). Strategic management: Concepts (4th ed). New York, NY: McGraw-Hill as one of the two scholarly sources. Use the APA formatting for the title page, headings, in-text citations, and reference list.
- Submit your assignment.
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