MGT/498 Strategic Management

MGT/498 Strategic Management

Question

Answered

Task
Strategic management includes an analysis of a business’s current state. Continuing with your research of Caterpillar, Inc., you will leverage the business SWOT tool to identify and drive organizational strategic decision-making and evaluate problem-solving strategies for the company.

 
Review the Strategic Management Project Background document.
 
Create a Word doc and title it Strategic Management Research Journal Part 2. (Don’t forget to include your name on the file document. Write a 500- to 700-word response to the following prompts in your journal entry:
 
1. Conduct a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of Caterpillar Inc. and create a SWOT matrix. Each quadrant of the SWOT matrix must contain 7-10 items, (the matrix is not included in the 525-word count).
 
2. Analyze Caterpillar’s strengths and include specific examples based on your SWOT analysis findings.
 
3. Analyze the weaknesses and threats identified in the SWOT for any common themes that might be a risk.
 
4. Compare Caterpillar’s Strengths against the Opportunities (from the SWOT) and identify the best probable opportunity to increase competitive advantage.
 
5. Propose problem-solving strategies to address Caterpillar’s weaknesses or threats (from the SWOT) that could be mitigated by a business opportunity or business decision.
 
Note: You will use information from this entry in your presentation due in week 5.