Concepts in Strategic Management for Tolapp Corporation: Mission statement, strategic objectives, and feedback mechanisms.
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Background Information:
Tolapp Corporation is a successful US manufacturing company located in Tennessee that builds power tools, lawn mowers, lawn furniture, microwaves, 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, Tolapp is trying to break into the global marketplace.
At this point in time, you are at the beginning of a project, which will eventually yield (in six months) a complete business plan for Tolapp's strategic initiative to penetrate the global marketplace. You will need to consider the strategic management process in building this business plan. In relation to this process, please prepare a report that provides appropriate responses to the following questions:
- How would you go about defining the identity of Tolapp Corporation and creating its mission statement? Where would you look for the information? What do you already know about Tolapp that can help?
- What principle would you use in order to prioritize the implementation steps needed to accomplish the strategic objectives?
- What post implementation and feedback mechanisms would you have in place to evaluate the effectiveness of the process? What measures would you use?
- What legal and ethical issues need to be considered?
- Identify examples of good and bad business practices in the use of strategy design components.
- Recognize situations that present potential legal and ethical issues and develop solutions for those issues.
- Develop plans to improve business operations.
- Use effective communication techniques.
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Solution Summary
The response addresses the queries posted in 1,589 words with references. This response is about a company named Tolapp Corporation manufacturing power tools. The company wants to go global. The strategic management process needs to be in place before the implementation of the expansion strategy. The paper throws light on the mission of the company and effectiveness of the strategic management process. It will discuss the principles of prioritizing implementation steps.
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Introduction:
This response is about the business plan made for Toplapp Corporation to expand its business into the global market. The company already has a blossoming business in the United States and Canada. This will throw light on the process of strategic management required by the company to launch itself in the global market. The company's mission statement and vision to move ahead will be framed and the various strategies it can use to capture the global market will be focused upon.
The company is supplying its products to renowned retailers like Walmart, Sears, and Best Buy. The company needs to focus on market research in order to successfully launch its business. The workforce requirement, financial consideration and marketing team needs should be evaluated carefully, it is necessary to see the cultural background of the company and the requirement of tools that are required in the particular state.
About Tolapp Corporation and Mission Statement:
Tolapp Corporation is a successful United States manufacturing company in Tennessee. It is the industry-leading manufacturer in the local market of Tennessee. The company produces portable electric tools and accessories used in business, daily.
The company is heading towards the global market. Presently, it is locally placed in the United States and Canada, where it has a flourishing market and good percentage of market share. The company is a leading marketer, manufacturer and supplier of home improvement products and other power tools. The company has a skilled team of employees who work with dedication and commitment. The distribution and marketing networks helps the company to expand its operation and market. They enable it to build a product portfolio world-wide.
The company has set standards for industry and has targeted professional tools of all types for users with a product line of over 500 tools. The company is committed to provide quality and customize products. There is a use of state-of--the-art technologies and advanced manufacturing techniques so that there is optimum cost in manufacturing a product.
The company supplies its product to plumbers, electricians, household-gardeners, ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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