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There are four direct general economic indices that are used to forecast the sales of the PEPT (Portable Electric Power Tools) Industry in which Able Corporation operates. These are housing starts, expenditures for residential construction, expenditures for commercial construction, and expenditures for home repairs and improvement. (Underlying these indices are more fundamental factors such interest rates, inflation rates, and foreign exchange rates.) The direct general economic factors can be counter-cyclical to each other, as when residential construction expenditures are down due to high interest rates, while home repairs and improvement expenditures are up as homeowners opt to improve their current dwellings rather than build new ones. The short and long-term forecasts for these indices can often vary significantly amongst the various forecast services
In Phase 1, the emphasis was primarily, though not exclusively, introspective. At this juncture, it is necessary to understand the external environment under which Able operates and the nature of its competition. In order to properly identify Able's potential, frame its mission statement, execute its value proposition, and set achievable strategic objectives, it is necessary to perform a rigorous analysis of available information resources. These include annual reports of the competitors, channel/distributor studies, predictions of economic forecast services, and industry reports.
* Research the key general economic indices affecting the power tool market and list any available projections. If significant differences exist between the various forecast services, highlight them.
* Obtain and list the historical actuals for the past 5 years.
* How does this information affect the power tool market?
* Considering that forecasting services and other information agencies often differ in their prediction of the future state of the power tools industry and vital economic factors, how would you go about putting a forecast together given these disparities?
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This paper gives a detailed analysis of various economic indices which affects the power tool market. In present scenario, to develop a competent position in the global market, it is necessary for the organization to forecast the economic factors, which directly or indirectly influence the productivity and profitability of the organization. It also describes mission statement, value proposition and strategic objectives for Able Corporation. Apart from this, it will also discuss the annual reports of the competitors and predictions of economic forecast services.
It will also discuss the forecasting services for Able Corporation, which in turn assist it to analyze the vital economic factors. The paper will assist the reader to gain an in-sight about the tools and techniques used to forecast the economic projections for the organization in an effective manner.
To offer quality products & services and enlarge the business internationally.
It is based on those practices which are administered to satisfy the expectations and demands of the key customers. It also involves quality aspects, which indirectly states the strategic objectives for the organization. It consists of various aspects, which assist the organization to deliver quality services and products to the customers (Boone & Kurtz, 2006). These are as follows:
 Specific information
 Key quality features
 Inherent message for the customers
 Unexposed strategic objectives
This is the key component of the organizational strategy, which determines the success or failure of an organizational strategy. These are based on the mission statement of Able Corporation. These are developed on SMART patterns, which means specific, measurable, achievable, reliable target. These are as follows:
 To advance the tools and techniques of production and manufacturing
 To expand the business portfolio at international level.
 To increase the returns
 To boost the market share
This is an important part of external environmental analysis, which is used to identify the key information about those factors which assist the organization to compete in the market effectively. This includes various factors such as competitor annual reports, channel/distributor studies and predictions of economic forecast services. ...
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