Strategic Management: Mission, Implementation, and Feedback
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Background Information:
Tolapp Corporation is a successful U.S. 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 U.S. 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:
1. 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?
2. What principle would you use in order to prioritize the implementation steps needed to accomplish the strategic objectives?
3. What post implementation and feedback mechanisms would you have in place to evaluate the effectiveness of the process? What measures would you use?
4. What legal and ethical issues need to be considered?
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Solution Summary
The solution discusses strategic management, including the mission statement, implementation and feedback.
Solution Preview
1. In order to break into the global world, Tolapp needs to have an identity which would differentiate it from others in the marketplace. The identity is created by identifying customers whom the company would serve and activities which the organization would do for these customers. Developing an identity is an easy yet difficult task. It is the identity with which the organization would be known in the global world. The identity defines what an organization is and is determined by how the company is perceived by customers. Tolapp needs an identity to define on things that are important for the company. One of the important tools for defining identity is mission statement. A company's mission statement is a brief summary of organization's goals and purpose and also its beliefs and values. Creating an accurate mission statement is vital as it leads to finding organizational identity. The mission statement should not be misleading and should translate into actions. The information for defining mission statement can be looked from the past performance of the company, its goals, customer orientation, and long-term future plans. Existing information like the company being a successful manufacturing company with tie-ups with large retailers like Wal-Mart, Sears, and Best Buy suggest that Tolapp's products are in demand. ...
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