Assignment:
Create a 2-3 pages
Description
ToolsCorp Corporation is a fictitious company that does not exist anywhere. It is located 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 of the market(s) into which ToolsCorp expands
• 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 that your group considers necessary to support the case for going forward with ToolsCorp's global strategic initiative (This is not optional, you must input additional material.)
Background Information
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located it in Tennessee. It builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. All products are manufactured locally and sold through large retailers that place sales papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the United States and Canada, ToolsCorp is trying to break into the global marketplace. I. Conduct market research of businesses that deal in the products listed in the learning material;
a. building power tools, lawn mowers, lawn furniture, microwaves and ranges.
II. Conduct research on ToolsCorp's strengths, weaknesses, opportunities and strengths to complete the SWOT analysis
III. Demonstrate how this will help ToolsCorp gain and sustain competitive advantages.
IV. Conduct an analysis of;
a. Economic; the global market's unemployment rate
b. Social, cultural and ethical; who is the target market and is ToolsCorp being socially and ethically responsible with the products it sells.
c. Demographic; to determine the population and what they need and want
d. Environment scanning; to determine ToolsCorp opportunities and possibilities
e. Political, legal, governmental, technological, and competitive trends; this research will determine ToolsCorp survivability rate in the area of expansion.
V. Research information for ToolsCorp's mission statement
VI. Prepare an Executive Summary that covers;
a. Introduction of ToolsCorp vision, mission, objectives and strategies
b. Description of key personnel and their qualifications
c. Expansion recommendations for the company
d. Description of the product and industry
VII. Prepare a 1-5-10 year strategic plan as recommended by David and David, p.5 (2014) that includes;
a. Finance and accounting principles to be used
b. Marketing and selling the products in the global market place
c. Manner of production and operations
d. The company's practices for research and development
e. IT department and possible ERP software ToolsCorp to focus on;
f. CRM
g. Chain Value