Business Model and Strategic Planning Outline as a guide, combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Va
Business Model and Strategic Plan
Helen Jackson
BUS/475
Daniel Magnole
March 27, 2017
Business Model and Strategic Plan Part 1: Proposal of a New Product Division of an Existing Business: Caterpillar Inc.
Caterpillar Inc. is a major producer and manufacturer of various products for several different industries, among that is landscaping. My proposal is to launch a new division to improve the company's current landscaping machines revenue and also improve the environment. This particular division is going to concentrate on the expansion as well as the production of hybrid lawn mowers. Considering the ongoing endeavors available to have a more responsible way of living, the idea of running lawn mowers using different sources other than gasoline is a rapidly expanding concept, and Caterpillar Inc. believes that it is going to be commonly acknowledged by the customers. The organization's reputation will solely help to create the customer’s assurance in the new item, and the efficiency, as well as a contribution to the cleaner atmosphere, is going to establish the worthiness of the machine.
Caterpillar Inc. believes that hybrid lawn maintenance systems are going to adapt perfectly within the existing mission statement, as well as increase more towards the dedication to the customers and the environment. This new merchandise is going to be lighter in weight, efficient, faster accelerating, and minimize the rate of pollution and fumes while operating.
The division's mission is going to be: Caterpillar Inc. Eco-Division is devoted to transforming proper lawn care experience by developing revolutionary lawn mowers as well as riding mowers that will incorporate value and efficiency for maximum outcomes. This particular division is powered by the interest for customer ease and comfort in conjunction with marketing a universal environment that is cleaner and better, guided by credibility and measured by the final outcomes. In the division, we will utilize our expertise, reputation, understanding, and analysis to develop and create items that fortify our company devotion and inspire our current consumers, and the newcomers. Caterpillar Inc. is dedicated to being the first brand in unique hybrid landscaping merchandise.
Addressing customer needs and achieving competitive advantage
The Caterpillar Inc. ZTrak design is going to be the first product to become a hybrid, and nevertheless, solar energy will drive the machine. The product will concentrate on developing equilibrium of efficiency and the cost while promoting an environment with a clean atmosphere. Caterpillar Inc. features a formidable foundation of loyal clients who invest in their products on a regular basis and believe that any new item the company manufactures is likely to be more advanced than the previous model. The aim is to attract the current consumers within the unveiling of the new machine, utilizing them to evaluate and give useful suggestions for future enhancements. This method provides the current clients a feeling of ownership to make sure they feel involved in the project, given that they invest a great deal into the organization. The division is going to be producing ZTrak-M hybrid mowers about marginal household utilization along with ZTrak-Rhybrid designs intended for more strong industrial works. Given that strict measures are being subjected to corporations to “Go Green” Caterpillar Inc. is seeking to promote this new concept before the competitors catch up. We intend to acquire a competitive advantage through the provision of an excellent approach to demonstrate their consternation for the globe and their client’s welfare and health. The division wants the clients to feel like a part of the group, and not merely another proprietor of the items.
Caterpillar Inc.’s vision and business model
The vision of Caterpillar Inc. for this new hybrid mower department is to create a worldwide energy-efficient, environmentally friendly product to adjust to the current ‘environmentally friendly’ community. The division is positive that there are a potential demand and an interest in hybrid machines within an international level, and an expectation that the hybrid lawn mowers are going to be the starting point of a fast expanding section within the lawn maintenance market. Caterpillar Inc. is famous for its well-planned organizational tactics - Its dedication and enthusiasm to servicing the forestry, construction, agricultural, turf, and industrial sectors as well as relentlessly enhancing machines and performance - which has rated them among the world’s most esteemed corporations. This has made it possible for the division to create an international model and retain a high-quality production, and place the division in a prominent placement to fully take advantage of international growth. The division will utilize a similar guiding principle to develop the Caterpillar Inc. hybrid lawn mower model to an exceptional importance inside the lawn maintenance sector. The division perceives that the approach to attain continued success is through the development of original items that focus on the customer’s demanding requirements and requirements of the universal environment, as well as delivering on the commitment to enhance the general standard of living. The focus of the item is to develop a tangible division of goods that are going to enable the consumers and associates to take pleasure in the rewards of promoting an internationally acknowledged company with the premier edge systems.
Vision, mission, and values
The Hybrid division is a section of the Caterpillar Inc. to make sure they share a similar vision, mission and values as the principal organization. “Since 1837, Caterpillar Inc. has experienced transformations within the business, its goods and services. Transformation usually features opportunity, and Caterpillar Inc. has constantly been willing to adapt to it. However, through it all, Caterpillar Inc. continues to be committed to those who are connected to the land - farmers, ranchers, landowners, builders, and they have under no circumstances outgrown or overlooked its founder’s primary key principles: innovation, quality, integrity, and commitment” ("Caterpillar Inc.-Our Company", (n.d)). .
The mission statement for Caterpillar Inc. is that they are devoted to serving individuals linked to the land, and thus helping to enhance the standards of living for folks all over. The company is also an international leader with a diversified set of incorporated strengths, and target to keep on developing new and advanced technology to the customers' products for a better environment to provide upcoming generations a more healthy future. The company also works hard each day to maintain, live as well as breathe out the organization’s primary values of innovation, quality, integrity, and commitment.
Strategic direction
Caterpillar Inc. has a goal of providing quality goods with advanced technology around the world. The diplomatic route is to create the most efficient and environmentally friendly lawn maintenance systems on the existing market. The division desires to create a confidence level in the consumers by achieving and outperforming their needs on quality, production as well as distribution. Caterpillar Inc. utilizes experienced professionals within the Marketing and Sales, Innovation as well as Development groups, and Engineering and Manufacturing. Collectively they are going to strive to develop an innovative product that will stay ahead of other organizations, and employ it to transform the game within the lawn maintenance sector. Each new item sold and analyzed will signify the collaborated initiatives of every section within the division. To build on consumer confidence, every item will have a two-year warranty along with a reliable refund of the money assurance in case they are not satisfied.
Guiding principles and values
Caterpillar Inc. as a whole organization functions under the following key values - innovation, quality, integrity, and commitment. Additionally, they function under five guiding principles - creating long-term associations with their clients through helping them to be more satisfied, lucrative and effective, developing a powerful enterprise where personnel efforts are acknowledged, recognized as well as honored, providing continuous value towards the shareholders, creating mutually advantageous connections with vendors, self-employed sellers as well as other channels of distribution, and creating a significant contribution towards the areas they operate in as well as towards the society in general (Pearce, 2013).
Remaining steady with their history of reliability as well as great commercial citizenship, the administrators, staff members as well as representatives are devoted to carrying out business as outlined by the top ethical requirements. These standards target fair dealing, disputes of interest, safeguards of organization assets, reporting infractions of the criteria, as well as responsibility for devotedness towards the code. By connecting workers, management as well as the unit and divisional targets to Caterpillar Inc.’s general company goals, the division will be able to acquire the aligned power of high-performance teamwork.
Conclusion
Caterpillar Inc. is, and will continue to be a leading manufacturer of products for several distinct customer requirements. Their reputation is formidable, allowing for new models to instantly intrigue the consumers, gain their trust and feel assured that they are being given quality merchandise that is going to deliver on its promise. The Hybrid lawn mower division plans to provide customers an innovative item that is going to streamline the duties in their life and contribute to a cleaner environment for all. Utilizing a team of specialists to develop their vision will develop a strategic organization structure that exhibits their four fundamental values of innovation, quality, integrity, and commitment. Caterpillar Inc.’s staff members will always look at the big picture and act in the direction of a long-term worldwide perspective. Caterpillar Inc. wants to keep on building on the trust of the international community by establishing an example with the optimum ethical specifications. The outcome is a job well done for Caterpillar Inc. along with a quality product and intact reputation to our customers.
References
Caterpillar Inc.-Our Company. ((n.d)). Retrieved from www.caterpillar.com/
Pearce, J. A. II. (2013). Strategic management: Planning for domestic and global competition (13th ed.). New York, NY: McGraw-Hill
