Project Homework
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, 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):
i. 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
ii. An outline of the business plan to be developed for ToolsCorp's strategic initiative
iii. A full mission statement containing the nine components and presented in a well written paragraph
iv. Key operating principles as you will apply them
v. A preliminary market analysis of the market(s) into which ToolsCorp expands
vi. 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
vii. 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.
Task
i. What questions do you have about the overarching Unit 5 homework Group Project?
Although it is not due until the end of the class, it is important that you begin planning for this project early in the course. What are your initial thoughts about how you will approach this homework? Explain.
ii. What are the most important elements of a Business Plan? Why?
iii. What other elements should be added to the Business Plan to encourage potential investors?
iv. How important is accurate financial data to the Business Plan? Why?
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.