To present a complete business plan for Able Corporation to the Strategic Officers Steering Committee (SOS-C). Able Corporation is a US manufacturing company located in Tennessee that builds power tools, lawn mowers, lawn furniture, micowaves, and ranges. All products are manufactured locally and sold through large retailers like Sears, Best Buy, and Wal-Mart. They have sale papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the US and Canada, Able is trying to break into the global marketplace.
WE WRITE PAPERS FOR STUDENTS
Tell us about your assignment and we will find the best writer for your project.
Get Help Now!You are to provide a mission statement, operating principles, market analysis, company strengths and weaknesses analysis, one-year, five-year and ten-year strategic objectives, sales forecasts, financial and operational objectives, and pro forma financials.
This is a fictional company. For class room discussion.
© BrainMass Inc. brainmass.com March 21, 2019, 10:59 am ad1c9bdddf
https://brainmass.com/business/business-management/strategic-management-tcjs-corporation-able-corporation-31615
Solution Preview
Mission Statement
· The purpose of the business is to have a worldwide presence in the field of power tools, lawn mowers, lawn furniture, microwaves, and ranges.
· The business: manufacturing and marketing of power tools, lawn mowers, lawn furniture, microwaves, and ranges.
· The values: manufacturing high quality and high performance equipment, backed by high quality after sales service and sold by high profile chain shops.
Operating principles: These would include:
- Increasing the market share.
- Increasing the production of the products with maintaining the highest quality of the products.
- Incorporating the latest technology in our products.
- Establishing contacts with the large chain shops like Sears, Best-Buy and Wal-Mart and appointing them for the sales of the company’s products.
- Developing a strong after sales service network for the areas to be covered .
- Providing fast and efficient after sales service.
- Doing ongoing research and incorporating the latest technologies in our products.
- Developing and retaining a strong team of professions, including R& D personnel, production team and marketing professionals.
- Developing a healthy financial structure for the company.
- Developing and maintaining a good synergy with the store chains so that these stores are satisfied with the performance of the company.
Market analysis - In the power tools sector there would be strong competition from companies like Bosch, Engineering Power Tools and DeWalt.In the power tools industry it would be a good idea to sell through specialized retailers like Northwest Power Tools.
- In the lawn mower industry, there would be serious competition from Toro, Snapper and John Deere Homeowners.International chainsaw sellers make good dealers for penetrating difficult markets like Classic Lawns in the UK.
- Microwave competitors include GE, LG and Samsung. These products can easily be sold through Sears and other chains however, the company should make sure that its products did not leak radiation.
- Cooking ranges should be sold through the shopping chains like Wal-Mart but the competition is likely to be strong from companies like Sunflame, Premier Gas and GE. Cooking ranges are also being increasingly being sold at discounts from web-sites.
- Lawn Furniture is likely to face competition from companies like Timberline, Westmininster Teak and Casurali Outdoor Patio. The marketing strategy in this line should mainly be to incorporate designer items like chaise lounges, chairs and tables. The selection should be wide and should target the premium segment.
Strengths and Weaknesses - The strengths include the wide diversity of the products which the company is offering, creating a package deal with the stores. However, the weakness lies in the dissimilarities in the products which the company is offering.
- The strength is that the company is manufacturing its own products and is not dependent on external suppliers, however, the weakness lies in the fact that all products are being manufactured in Tennessee where some of the products will be difficult to procure and may increase the …
