Caterpillar Mission Statement 2020 | Caterpillar Mission & Vision Analysis
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Caterpillar Mission and Vision Statements Analysis

Caterpillar Mission and Vision Statements Analysis

CAT mission statement is “to provide the best value to customers, grow a profitable business, develop and reward people, and encourage social responsibility.” The statement determines how the company seeks to run its business in such a way that it meets all the needs of its clients. This statement by CAT has these components:

  1. Distinguished services
  2. Improving communities

To provide the best services, CAT ensures that all its machines are designed to perfection with the needs of the user in mind. In addition, it also provides extra services to add to the high-quality products it provides such as insurance. In the second component, CAT stresses that all its services are tailored to develop and grow individuals within its firms and beyond. In fact, its commitment to sustainability has a positive impact on communities.

Introduction

Caterpillar.  Inc. is the global leader in the manufacturing of construction and other heavy equipment. Since its foundation in 1925, CAT has grown steadily into a top enterprise, diversifying its business operation to include insurance and financing services. All these remains in line with its mission and vision statements that emphasize on leadership with a difference.

Just like a corporate vision statement is known for, the vision statement of CAT guides its growth path. On the other hand, its mission statement agrees with the definition of a corporate mission statement as it clearly makes the purpose of this company and how it can achieve it clear. In addition, the core values of CAT stands out as they reveal the foundation that this company rides on to become the corporate giant it is today.

Vision Statement

CAT vision statement is “be the global leader in customer value.” There is no doubt that this determination is what has positioned CAT into the influential position it occupies today in this industry, ahead of other major competitors.  The statement has the following parts:

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  1. Global leader
  2. Customer value

To add to the quality machinery that it produces, CAT uses a unique marketing approach that has spread its brand across the globe. The most strategic element in this vision is that it emphasizes on satisfying customers first before anything else, and this is what has seen CAT enjoy a growth spurt.

Core Values

CAT core values comprise “integrity, excellence, teamwork, commitment and sustainability.” Through these codes of conduct, CAT, together with its stakeholders has remained focused on its mission and vision statements. In fact, this has transformed this corporation into one of the most coveted manufacturers of heavy machinery in the world.

References

  • Bouchard, C. T., & Koch, J. V. (2014). The caterpillar way: Lessons in leadership, growth, and shareholder value. McGraw-Hill Education.
  • Brătianu, C., & Bălănescu, G. V. (2008). Vision, mission and corporate values. A comparative analysis of the top 50 US companies. Management & Marketing3(3), 19-38.
  • Caterpillar – About.
  • Froud, J., Williams, K., Haslam, C., Johal, S., & Williams, J. (1998). Caterpillar: two stories and an argument. Accounting, Organizations and Society23(7), 685-708.
  • King, D. L., Case, C. J., & Premo, K. M. (2010). Current mission statement emphasis: be ethical and go global. Academy of Strategic Management Journal9(2), 71.
  • Min, H. (2009). The best-practice supplier diversity program at Caterpillar. Supply Chain Management: An International Journal14(3), 167-170.
  • Mirvis, P., Googins, B., & Kinnicutt, S. (2010). Vision, mission, values. Organizational Dynamics39(4), 316.
  • Netland, T. (2013). Exploring the phenomenon of company-specific production systems: one-best-way or own-best-way? International Journal of Production Research51(4), 1084-1097.
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