...Able Corporation Business Plan October 10, 2010 MGT680-1004A-02 Instructor: Dr. Smotherman Unit I: Individual Project Title: Able Corporation Business Plan STATEMENT OF ACADEMIC INTEGRITY I certify that: 1. I prepared this document specifically for this class; 2. I am the author of this document; 3. I am fully disclosing and giving proper credit to any outside assistance received in its preparation; 4. I cited sources of information (e.g., data, ideas, charts, etc.) and used this material to support this document. Student’s Signature: ABSTRACT Have you ever thought about all the planning that goes into coming up with a strategic plan for going global? Today we are in the are the beginning stages of a project for Able Corporation, which will eventually yield and go global in six months or more. In this paper I will be answering several questions that will lead to the completion of a business plan for Able Corporations strategic initiative to penetrate the global marketplace. INTRODUCTION Today we are looking at Able Corporation who is a very successful US manufacturing company located in state Tennessee, that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. At the current time all Able’s products are manufactured locally and sold through large retail chains like Sears, Best Buy, and Wal-Mart. Their promotions and advertising of its products is done primarily through sale papers inserted in every Wednesday...
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...Corporate Level Strategies General Motors (GM) is a public company based in the United States that is headquartered in Detroit, Michigan. In the year 2011, the company was able to acquire the title of the largest automaker in the world by achieving the highest number of vehicle unit sales since inception (General Motors, 2012). General Motors led global automobile unit sales for 77 consecutive years from 1931 through 2007; however, the company lost its position to Toyota, which has continued to dominate the market with GM standing at second. The core competencies of a corporate corporation are focused on ensuring that the business entity is able to satisfy the needs and preferences of their customers. This stands as the main determinant in realizing above average returns especially in a highly competitive business environment. This is achieved through business level strategies, which are strategies that outline the various actions to be taken in order to ensure that the company is able to provide value to its customers in addition to gaining the critical competitive advantage by utilizing its core competencies in specific, service markets or individual products. Business level strategy therefore pertains to the corporation’s firm position in its operating industry compared to its main competitors and the five forces of competition. One of the fundamental business level strategies that General Motors has employed is cost leadership. The company has been able to employ this...
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...Referral From Last Submission 3.1: Plan an external corporate communications audit An external corporate communication audit requires for corporate communication for developing strategy. Knowledge in communication is required for executives to develop proper communication strategy and determine main issue for developing functions for major public issues. The proper strategy ensures inner messages for communication that perceive intended audience. For developing a corporate communication strategy, organization is not necessary and required to develop process. The productive strategy is affected by the organization as a whole performance evaluation to determine strategic goals. It is important for developing internal and external environment....
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...CH1-2)how does strtegic management evolve in corporation?its because of changes of technology advances in the world and the competition of market places. 1 . Why has strategic management become so important to today 's corporations Strategic management involves the assessment of inner and outer environment of the organization . The purpose of strategic management is to evaluate the strengths and weaknesses as well as identify opportunities for and threats to the organization . Strategic management is highly important in corporations at present because it determines strategies and approaches to employ in to ensure success in the industry . Strategic management oversees strategic planning which formulates business operations , policies , and practices , that corporations should observe in to reinforce strengths , eliminate or transform weaknesses intro strengths , identify and obtain opportunities for development , and determine and prevent risks. 4 . Why are strategic decisions different from other types of decisions Strategic decisions are decisions made by corporations applicable to all aspects of the operational environment in to make sure that direction is leaning towards the realization of organizational goals and objectives . It includes decisions based on a thoroughly formulated plan that looks into the identification of risks and prevention of loses Strategic decisions are aimed at how corporations will run the business in to stay within the corporate arena competitively...
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...CHAPTER I INTRODUCTION 1. Background of Case Study Selection Differentiated strategy is the strategy pursued by the company to produce products that are different or unique compared to competitors' products. Researchers are interested in doing research on the company because researcher wanted to learn more about controls for differentiated strategies, both theoretical and practical. Minnesota Mining & Manufacturing Corporation (3M) is one of the companies that have successfully implemented differentiated product strategy that gives priority to innovation as a competitive advantage offered. This company believes that innovation to be the cornerstone of 3M’s future success. Current management has continued to embrace and expand these policies and philosophies. That is why researchers interested in evaluating policies and 3 M that philosophy is based on the innovation in the implementation of the strategy of differentiation 2. Motivation Motivation researchers conducted a study of control for differentiated strategies in Minnesota Mining & Manufacturing Corporation (3M) because the researchers wanted to know more about the factors that influenced the design of the system and also the policies and philosophy rooted in the innovations made by 3M Corporation. By studying and examining the existing policy and philosophy that is rooted in innovation from the company, researchers can get a clearer picture of how to do a proper evaluation and what steps...
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...based on a case study called the Continental Computer Corporation (CCC) who is currently undergoing an exercise to include project management as a profession in the corporation. Whilst CCC is a generally profitable and successfully functioning company, there are many internal problems that could lead to the downfall of CCC if not addressed adequately. There is a clear lack of proper leadership skills within CCC. This is evident by way of all three divisions within the corporation operating individually with no cross communication. Project management process, methodologies and governance are not practiced which leads to unclear project approval processes as well as inadequate resource and budget allocation. All divisions have their own organisational structures therefore there is lack of HR leadership. Job profiling and matching seems to be non-existent and salary grades and earning ranges are different within the three divisions although in some cases, the job description is the same. Below are the recommendations for successful change within CCC which have been further detailed in Section 5 of this report: • CCC restructure process • Formulation of corporate business plan and strategy • Formulation of divisional business plans and strategies • Formulation of divisional operational strategies • Appoint HR leadership team • Develop talent management strategy • Develop incentive...
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...Strategic Management Process Angela Howard MGT/498 August 28, 2013 Glenn O’Steen Components The primary components of the strategic management process are environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Environmental scanning is described to be “the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation” (Wheelen, 2010). Environmental scanning is usually used to classify strategic influences that will control the future of the corporation. Strategy formulation is the act of rising long-term tactics for the future of a company by using the company’s strengthens, and weaknesses, for the efficient management of environmental opportunities and pressure. Strategy implementation is the putting in action of the strategies formulated by a corporation. Lastly, evaluation and control includes the monitoring of corporate activities and performance in order to compare the actual results, to the ones that are set as goals. Strategic management helps a company sustain long-term performance. For companies that do not practice strategic management, it is very hard to attain and to sustain long-term performance. Most companies when they have finally attained a high performance level will soon experience a decrease in their performance. Strategic management will help a company understand, and realize that the environment around them is constantly changing...
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...Strategic Management Process Paper MGT/498 Environmental scanning, strategy formulation, strategy implementation, and evaluation and control are the primary components of the strategic management process. Environmental scanning is described to be “the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation” (Wheelen & Hunger, 2010). Environmental scanning is usually used to classify strategic maneuvers that will direct the future of the business. Strategy formulation is the act of developing long-term plans for the future of a corporation by using the corporation’s strengthens, and weaknesses, for the successful handling of ecological opportunities and threats. Strategy implementation is the putting in action of the strategies formulated by a corporation. Lastly, evaluation and control includes the monitoring of corporate activities and performance in order to compare the actual results, to the ones that are set as goals. Strategic management helps a company sustain long-term performance. For companies that do not practice strategic management, it is very hard to attain and to sustain long-term performance. Most companies when they have finally attained a high performance level will soon experience a decrease in their performance. Strategic management will help a company understand, and realize that the environment around them is constantly changing, and evolving. It also helps a company...
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...Analysis; Supply and Value Chain Analysis Pg. 9 IV. Business Model and Strategic Plan Part III: Assumptions, Risk and Change Management Plan; Summary of Strategic Objectives; Balanced Score Card and its impact on stakeholders; the Communication Plan Pg.14 V. Business Model and Strategic Plan Part IV: Monitoring and Control Strategies Pg.20 VI. References Pg.24 Executive Summary Pall Corporation, the world’s leading developer in filtration systems would formally like to present today the most advanced continuous glucose monitoring device; Truecose. We are working at finding the ways to better improve people’s lives with the most effective equipment. Truecose’s business model is to continue building the company’s name and trust of its customers by leading technologies in the market it serves. The company through all divisions will continue to make the “world safer, greener, better”. The acquisition of Dexcom has proven to be the most beneficial option in helping to improve new continuous glucose monitor. Pall has developed a strategic plan that has minimized risks, such as FDA regulations and the high costs of research and development, by acquiring Dexcom. Truecose is expected to be highly profitable device, considering more and more of the population are being diagnosed with diabetes and are in need of better management methods. Pall Corporation will continue to work with Dexcom’s previous staff to improve the working relationships and blend the companies so that the...
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...interested in management, innovation, and overall how to run a succesful organization. Alfred Sloan was able to leave a lasting legacy at the leading automotive company General Motors (GM) by creating positive change through implementing new management techniques, executing financial reforms, establishing a centralized banking system and making luxurious cars in order to gain a competitive advantage over its largest competition. The book is part personal memoir and the other part is standardized text regarding effective management. The General Motors executive depicts story of triumph and the successes he has encountered through proper leadership and management. The main character portrayed in the book of My Years with General Motors is Alfred Sloan. Alfred was raised New York and graduated from MIT with a degree in electrical engineering in the late 1895. His first job post graduation was at an establishment called Hyatt Roller Bearing Company. Hyatt supplied parts to many firms in the automobile industry. After the success of Hyatt, the firm was bought out by General Motors (Sloan, jr., 1990). After the founder of GM William Durant, was forced out of the company for making unwise financial decisions, Alfred took the place of the lead executive. He ran the company until 1946, continued to serve as chairman until 1953, and held various positions of respect and power until he passed in 1966 (Sloan, jr., 1990). During Alfred’s tenure at the firm he was able to reestablish...
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...goes on. Some have surmised that corporations and the invisible forces of the market will create an economic atmosphere conducive to solving these problems through traditional market forces and corporate objectives. It is true that much progress has been made by corporations to be more “green,” but the unfortunate fact is that the progress is not enough to undue over one-hundred years of industrial waste and consumption, waste and consumption that is only growing. Indeed, how can the problem be the solution? The world’s population is on the rise: “More than six billion people currently inhabit the planet, and by the year 2050 this number is likely to grow to more than nine billion.” A growing population will only put a greater strain on the Earth’s all ready life support systems. Greater environmental degradation is beginning to make a palpable mark on the earths climate, with rising average temperatures and seas levels, and these effects will only magnify if business continues as usual. Of course, a technologically sophisticated society, such as ours, might be able to reinvent itself in a way that extends the carrying capacity of the earth and can support the growing population of the human species. The possibility of living within the limits of the Earth’s support systems is available to humanity; the only question is just how does humanity go about reinventing itself to live within those limits. Some have suggested that that corporations can be...
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...For any business to be able to operate profitably it needs to implement and execute its core management concepts and strategies effectively in a manner gives it a competitive advantage in the market place. McDonald has been one of the highly growing profitable fast food retailers globally. With operations in 119 countries and more than 33,000 restaurants worldwide with 80% of these franchised, the management needs to perform its management functions effectively in order to sustain the growth and profitability and to stimulate further growth in the company (McDonald's Corporation, 2012). This paper analyzes the functions of management that’s being usedby the McDonald's leadership to turn make the company profitable. Functions of management at McDonalds: There are mainly four functions of management that makes a company able to translate strategy into profitability and enhances a more cohesive organization which helps in fulfilling a company's operating objectives. These are planning, organizing, leading and control (Robbins and Coulter, 2001). Planning: Planning is a function of management which helps in determining exactly where the organization is presently and the course of action that needs to be undertaken in order to take it where it wants to be in the future and how the company's goals and objectives can be attained (Robbins and Coulter, 2001). In this sense therefore planning involves curving out a course of action to be taken based on the available and prospective...
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...| Symantec Corporation | Mergers and Acquisitions | | Chris Miller | 11/9/2011 Dan SalmApplied Microeconomic Theory | | * Introduction * This research paper attempts to give a view of the traditional theory relating to Symantec Corporation and their acquisitions and mergers in an attempt to gain market control. Mergers and acquisitions correspond to change within a business looking to gain market power. No other experience is harder to attain for a company, represents more of a challenge, or as hectic as an acquisition or merger. It is vital that the management understands the methods required to perform acquisitions and mergers and that they have a clear understanding of how the procedure works. A corporate merger is the amalgamation of two company’s liabilities and assets developing into a single business element. Acquisitions occur when a large company, typically in a monopolistically competitive market, encompasses a smaller company giving the larger company a monopolistic advantage. A merger occurs when the amalgamation of liabilities and assets is depicted to be between companies of equal market standing. Within a company merger of estimated equals, there is typically an exchange of company stocks where one business distributes new shares to the shareholders of the other company at a specified percentage. * “Those who boast of their commonsense approach to management are very probably just following the ill-formed, half-forgotten, pseudo-scientific nostrum...
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...quality of their products. The management team at Super Bakery decided to implement and activity based costing plan to help maximize profits and ensure quality products to customers. However, Super Bakery had an additional challenge when implementing a cost system. Because the majority of functions are outsourced, the costing plan needed to help the company maintain control over those outsourced functions Strategies In order to make a costing system functional in a virtual company, Super Bakery needed to put into place several strategies that would cater to the specific virtual challenges. The first simple strategy that was put into place by Super Bakery was simply to question industry practices and to develop unique strategies and tactics (Davis & Darling, 1996). When management asked these questions they discovered that there was a market that traditionally received poor and underrated service; the school systems and institutional food market. The bakery developed healthy baked goods to meet the ever-increasing nutritional standards that government run facilities faced. This strategy allowed the company to increase sales while other fatty and sugar-based bake goods were declining in sales. Second, Super Baker controlled costs by refrigerating the product, vacuum sealing, and distributing it nationally allowing them to build a national reputation and presence in the market (Davis & Darling, 1996). The third strategy helped contain costs as well as...
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...development of starting the corporation or retelling the merchandise this all depends on how you produced your merchandise. There are three things that need to be considered; the manufacture price, your financial plan and estimated profit margin. You will correspondingly need to reflect on your management knowledge and the people that assist you with the corporation judgments and the profits, when choosing how you need to manufacture your merchandise. How Management Operates The means of support if you want a successful corporation is the management. Management is everything and anything that affects the corporation in a moneymaking way or it could have a harmful effect on the corporation. The people that are responsible for the critical decision making to do with the corporation and they make the decisions dealing with the financial management, are called the managers. Controlling, leading, organizing, and planning are the four occupations management is broken down into. Each one of those corporations play a very significant part of what is takes to make you management successful for the corporation. (Coastal Carolina University, 2001-2011) In management controlling is completely regarding answerability. In the corporation or in a section of the corporation, a manager has a duty to establish goals, observer the goals, and if it is necessary modify or make different goals. A manager is also responsible for ensuring that the section of the corporation he or she is above is...
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