BUS FPX 3007 Assessment 2 Mission Vision and Ethics in Organizations BUS-FPX3007 Developing a Business Perspective Mission, Vision, and Ethics in Organizations
From: Mbartkus@caterpillar.com
To: Manager@caterpillar.com
RE: Updating Website
The Caterpillar (CAT) website offers a wealth of information for consumers, investors, and employees, helping them understand our mission, vision, and code of ethics. As we progress further into 2022, we plan to revamp the website to ensure that all content effectively supports our mission.
Purpose and Key Elements of Mission Statements
A mission statement is crucial for any organization, as it informs consumers, stakeholders, and potential employees about the company’s goals and pursuits. Key elements of our mission include profitability, rewards, and social concerns. By emphasizing these elements, we broaden our appeal to candidates, investors, and consumers alike. We demonstrate our commitment to our mission through various initiatives, such as our collaboration on creating the first zero-emission mine (Caterpillar, 2021).
Purpose and Key Elements of Vision Statements
While our mission statement outlines our commitments, our vision statement delineates our long-term goals that align with this mission. The current vision statement reads, “Becoming the global leader in terms of customer value” (Visionary, n.d.). This statement highlights growth and value as essential components. Our website underscores CAT’s implementation of an Operation & Execution model to pinpoint areas that are most valuable to consumers (Caterpillar, n.d.).
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Purpose and Key Elements of a Code of Ethics
The purpose of our code of ethics is to set clear expectations for affiliates, employees, and leaders regarding their conduct in alignment with CAT’s values. Trust, loyalty, and positive growth are fundamental elements of our code. All individuals associated with CAT are expected to adhere to this code, which fosters teamwork and clarity regarding our expectations and values (Oberhelman, 2015). Stakeholders who resonate with these values are vital, as their financial support contributes to our ethical objectives.
Evaluation of Statements
Our code of ethics is straightforward and accessible in various languages, incorporating key elements that align with our core values. The mission statement is concise and reinforces our corporate objectives. However, it is not prominently displayed on our website, which is a significant drawback. Additionally, the vision statement, while outlining our objectives, lacks clarity. In contrast, our competitor Volvo articulates its vision more explicitly: “To be the most desired and successful transport and infrastructure solution provider in the world” (Volvo, n.d.). Due to our current vague vision statement, consumers and stakeholders may be unaware of the products we offer.
Elements to Include
Enhancing our website with a dedicated mission and vision statements page is advantageous. Increasing accessibility to these elements will better convey who we are and our objectives. Additionally, showcasing our values and sustainability efforts through graphics and photos of awards will enhance our attractiveness to candidates, stakeholders, and consumers without undermining other companies.
Conclusion
Although our mission statement is not directly quoted on our website, the examples of our current projects effectively illustrate our goals. Our vision comprehensively describes how we aim to achieve these objectives. Moving forward with the website updates will ensure this information is presented more effectively, improving understanding of our company and demonstrating our superiority.
References
Caterpillar. (2021). Helping build a zero-emission mine. Retrieved from https://www.caterpillar.com/en/news/caterpillarNews/2021/zero-emission-mine.html
Caterpillar. (n.d.). Code of conduct. Retrieved