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business plan for Able Corporation

In six months you are to present a complete business plan for Able Corporation to the Strategic Officers Steering Committee (SOS-C). 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.

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 are some of the key elements that might be contained in Able's value propositions?
* 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?

Solution Preview

The response addresses the queries posted in 2027 words with references.

//Before defining the preliminary steps of the business plan, firstly we have to understand about the importance of business plan and the information about the organization to understand its market, which we will discuss under the heading of introduction, for example: //

Introduction

In present scenario, to compete in the market it is necessary to have an effective and promising business plan which in turn assists the company to communicate its new products and services in an effective way. To capitalize the available opportunity, it is customary for the organization to build strategic objectives which are attainable. Business plan requires in-depth market analysis, which assists the organization to analyze the strength and weakness. Business plan consists of various steps such as mission statement, operational principles, internal factor analysis, market analysis, strategic objectives, sales forecasts financial and operational objectives and pro forma financials.

This is the business plan for Able Corporation, which is a US based manufacturing firm situated in Tennessee and deals in lawn mowers, lawn furniture, power tools microwaves and ranges. The products of Able Corporation are manufactured at local level and sold through different retailers like Wal-Mart, Best Buy and Sears. Able Corporation have a thriving business in Canada and USA. The company is also searching to expand its business at international level. This paper will explain a detail business plan for Able Corporation which assist the reader to gain in-sight about the key aspects that have to consider while formulating strategies for business plan.

Apart from this, the business plan will address some key issues such as elements of value propositions, implementation measures, post implementation and feedback mechanism in order to evaluate the effectiveness of strategic management process.

//Above we have discussed about the company and importance of the business plan for its growth and success in the organization. Now, as per the directions, we will talk about the preliminary process of the business plan, which helps us to make a business plan for the Able Corporation. This business plan also includes the mission statement and principle of the origination. //

Preliminary steps

This is the most significant part of formulating a competent business plan. This is a preplanning process before developing any business plan. It consists of different steps which assist the researcher to analyze the key issues in an effective manner. These are as follows:

Ø Identity of Able Corporation: In order to address this issue of strategic management process, I would like to look for the recognition of the customers and employees feelings about the organization. In order to create the mission statement, I would like to know what the organization wants to achieve in its life and the basic needs of Able Corporation.

Ø Key elements of value propositions: Value proposition is based on the grounds which states the ways through which the product satisfy the needs of the customers. In order to develop a strong and effective value proposition, I would like to include the key information in the value proposition which indirectly states the strategic objectives of the company. Information with regard to circular saws and product quality will be the key elements of value ...

Solution Summary

The response addresses the queries posted in 2027 words with references.

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