...Running Head: ToolsCorp Corporation ToolsCorp Corporation AIU – MGT680 Abstract This paper will address penetrating the global marketplace and broaden the area of operations and sales for ToolsCorp Corporation. This paper will include the overall evaluation of this corporation and the long term strategic plan development. It will also include the corporation’s mission and vision statements. ToolsCorp Introduction ToolsCorp Corporation, a company out of Tennessee that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. Currently these products are sold in retails such as Sears, Best Buy, and Wal-Mart. Their products are manufactured locally and have a promising business within the US and Canada. The plan is to introduce ToolsCorp into the global market place to become one of the largest establishments in its field. By gaining this large establishment and the global market place, ToolsCorp can overcome their competitors in sales to dominate the market. Mission Statement The nine components of a mission statement are customers, products / services, markets, technology, concern for survival, growth, and profitability, philosophy, self-concept, concern for public image, and concern for employees. These nine components look at who the firm’s customers are; what the firm’s major products or services are; geographically speaking, where the firm competes; is the firm technologically current; is the firm committed to growth and financial soundness;...
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...MGT680-1302D-01 Strategic Management Toolscorp Corporation’s Introduction To The Global Marketplace Strategic Plan Overview David Lomidze American Intercontinental University Dr. Leland Taylor June 17.2013 Abstract This paper will address ToolsCorp Corporation’s attempt to penetrate the global marketplace and broaden the area of the operations and sales. Overall evaluation of the establishment and the environment and Toolscorp Corporation’s long term strategic plan development in early phase and its mission and vision statements will be defined. Toolscorp Corporation’s Introduction To The Global Marketplace Strategic Plan Overview Toolscorp Corporation ToolsCorp Corporation is the well-established organization that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges and located it in Tennessee. All products are manufactured locally and sold through large retailers as Sears, Best Buy, and Wal-Mart. They have some advertisement and although they have a greatly established and very promising business in US and Canada, ToolsCorp is trying to introduce its product into the global marketplace. In case of success Toolscorp will become one of the largest establishment in its field and will overcome its competitors in sales by gaining huge share of the marketplace that gives the Corporation great power of dominating the market. Mission Statement Nine essential components of the mission statement are Customers, Products or Services, Markets...
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...ToolsCorp Corporation is an organization built around consumers and employees, excellent quality products around the world and multiple opportunities for progress and these features will be important to the company's mission for the business in the global marketplace. Whether its power tools, lawn mowers, lawn furniture, microwaves, and ranges, the company's mission will be full of opportunities for both customers and employees. The company will plan to offer something new every time. Mission Statement of ToolsCorp The ToolsCorp Corporation aims to be the most exceedingly valued company through our customers, communities, employees and shareholders. For these things to be possible the mission of the company should possess following nine elements and each of them explains the sort of corporation ToolsCorp aspires to be: Wanted and needed around the world A rising business, full of opportunities Winner locally while implementing new skills globally To be an extraordinary international corporation in stores and online To be excellent in everything the company manufactures To be an innovator of highly valued brands Modern, innovative and full of initiatives To build effective team to create more value Operate with the aim to motivate, inspire and earn trust from customers Nine Essential Components of a Mission Statement COMPONENTS OF AN EFFECTIVE MISSION STATEMENT Mission statements can and do vary in length, content, format and specificity. Most practitioners...
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...ToolsCorp Corporation is a fictitious company that does exist anywhere. For the purpose of this course, it is located it in Tennessee. As members of the senior management team of ToolsCorp Corporation, your group has been asked to prepare a neat and organized report for the Strategic Officers Steering Committee (SOS-C) of ToolsCorp Corporation. The purpose of this paper is to obtain permission from them to go forward with the next step (developing a full-blown business plan) for ToolsCorp's strategic initiative to break into the global marketplace. Your group's paper should discuss the following (at a minimum): • A complete strengths, weaknesses, opportunities, and threats (SWOT) analysis (including at least 5 factors from each category and full explanations of why each factor is important and why it was placed in the category) of the environment that exists within ToolsCorp and the environment that ToolsCorp is proposing • An outline of the business plan to be developed for ToolsCorp's strategic initiative • A full mission statement containing the nine components and presented in a well written paragraph • Key operating principles as you will apply them • A preliminary market analysis • The one-year, five-year, and ten-year strategic objectives of the strategic initiatives presented as one strategic proposal for each time frame (3 strategic proposals in all), complete with implementation plans, potential ramifications, and feedback mechanisms • The additional material...
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...environmental conservation, and employee welfare and profit maximization. The strategic plan of the company entails starting a Global S&OP program which requires three key elements: People, process, and technology. To start successful global operations, research should be conducted to establish whether there is community support for this effort, who will lead the effort, geographical preferences, what, where and when should be accomplished. Sales and Operations Planning involves five step process which includes updating the data every month, creating the demand forecasts, checking on supply, resolving the issues, and reviewing the trends in metrics and action plans with leadership – is the most appropriate model for ToolsCorp to ensure success on global market. ToolsCorp management should consider main aspects for domestic market of the region that it will be expanding its operations: Positioning; understanding that every community has unique assets and advantages that may appeal to international prospects. Localization; localization does not mean to speak the language;...
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...American InterContinental University Portion of Unit 5 Group Project (draft) The relationship status between the United States and India The United States and India have maintained a business relationship for many years. The American Chamber of Commerce in India has improved commercial ties with the economy. The Chairman of the U.S. India Energy Cooperation Program (ECP) has worked hard to assist in the development of international business between the U.S. and India. Expanding commercial ties will increase international business revenue by 17 percent. ToolsCorp Corporation is a productive company that pursues to achieving its financial goals within the international business sector. It is critical to develop an understanding of the economic sector in India. Demographics, infrastructure and gender can affect the business operation with India, Developing a full blown business for ToolsCorp can allow for a higher success rate within the global marketplace. India has a fast growing economy. There are many perspectives on India and why it is a power move to conduct international business operations within India. India’s values, heritage, and core strengths reflects that of the United States. India has population that increase 5 percent each year (Bosch in India, 2015). India also has one of the largest political systems within the global business world. Technology within India is advancing at a rapid rate. The food processing infrastructures are steadily...
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...Unit 1 Individual Project Student Name Student University MGT 680: Dr. ___________ May 11, 2014 Abstract The following discusses the process of creating a mission statement for fictitious company ToolsCorp Corporation and writes the company’s mission statement is using the nine essential components framework. This report focuses on the principles and tools needed to implement and evaluate the effectiveness of the strategic objective process. Lastly, this report considers any legal and ethical issues. Unit 1 Individual Project The following discusses the process of creating a mission statement for fictitious company ToolsCorp Corporation and writes the company’s mission statement is using the nine essential components framework. This report focuses on the principles and tools needed to implement and evaluate the effectiveness of the strategic objective process. Lastly, this report considers any legal and ethical issues. Launching a new business rests on a vision, or a set of beliefs, that the business can offer a product or service to consumers in a specific at a profitable price (David, 2013, p. 44). As a business grows, it is necessary for owners or managers to revise the company vision and mission. The original ideas are typically exhibited in the revised vision and mission. ToolCorp Corporation, located in Tennessee, produces power tools, lawn equipment such as mowers and furniture, as well as microwave and range appliances. This company has a booming...
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