In six months you are 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, 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, Able is trying to break into the global marketplace.
You are to provide a market analysis, define company strengths and weaknesses, outline a one-year, five-year and ten-year strategic objectives, sales forecasts, financial and operational objectives, and pro forma financials.
As a preliminary step in the preparation of the business plan, brainstorm the major elements of the strategic management process. Using the questions below as a guide, provide several bullet points for each major step in the process. These can include insights, issues that need to be addressed, questions that need to be asked, etc.
? How would you go about defining the identity of Able Corporation and creating its mission statement? Where would you look for the information? What do you already know about Able 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 or ethical issues, if any, need to be considered?
THE MISSION STATEMENT OF ABLE: The company would make power tools like chain saws, edgers, leaf blowers, saw chains, trimmers, and other landscaping tools and components. ABLE would market its products, which are protected by more than 500 patents, through five distribution centers along with seven independent distributors. ABLE tools would be sold by 8,000 retailers throughout the US and exported to more than 70 countries. The company also provides services for manufacturers, such as heat treating and plastic injection molding. Established in 1974, ABLE would be one of manufacturing subsidiaries of ABLE Group.
Other toolmakers would like to borrow the collection of power tools, hardware, and home improvement products that Able would have in its shed. It would also make electric lawn and garden tools. Its largest customers would include Home Depot and Lowe's, which together would account for about 30% of sales.
The company would make and distributes a variety of home appliances under the Able and Capable brands, including dishwashers, ovens, washing machines, and dryers. ABLE Home Appliances would operate plants in Tennessee.
OPERATING PRINICPLES OF ABLE AND MARKET ANALYSIS
Able Electronics America would sell everything from lawn mowers to microwave ovens, from sea to shining sea. Formed as a subsidiary of electronics giant Able Electronics, the company would market a variety of consumer electronics The company manages the North American operations of Able Home Products America .
Rapid Cook Technology of Able micro ovens.
The Company's ovens would couple rapidly circulating hot air, infrared heating and microwave energy. The close coupling of these three energy sources controlled by a microprocessor enables faster cooking at higher-quality levels than is possible by each energy source operating independently. The air is forced down from the top of the oven and at the same time pulled out through a return path that results in a tight air wrap around the food. This air wrap ensures that there is a constant interaction between the heated air and the entire surface area of the food product in the cooking cavity that results in evenly browned food products on the outside and temperature and moisture gradients that enable precisely targeted microwaves to energize water molecules that cook the food on the inside. The infrared heating also assures proper browning of the food. The microwave energy is introduced from a direction directly opposite that of the direction of the airflow, thus capturing the food between the two opposing energy gradients.
The circulated air is recycled though a catalytic converter system that breaks down the fumes and grease by-product resulting from the cooking process. This makes the Able oven a vent-less cooking solution.
KEY OPERATING PRINCIPLES FOR ABLE CORPORATION
· We intend to have a worldwide presence in the field of power tools, lawn mowers, lawn furniture, microwaves and ranges. - This is our specific focus and point of business development.
· We deliver competitive advantage by bringing a new ...
Here is just a sample of what you'll find in this solution:
"While implementing the above framework Able should keep in mind that its decision should be right, fair to the company Able is selling to, see that the interest of the different managers of its own company as well as that of the stores are not compromised. That Able would be comfortable if its decision were..."