PART 1 Can you help me with these parts I am working on the other parts at the present time. I need 1100-1300 words with at least 5 scholarly sources.
ToolsCorp Corporation is a fictitious Company that does not exist anywhere. For this project, we have located it in Tennessee. It 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, ToolsCorp is trying to break into the global marketplace.
With this information respond to the following:
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 ToolsCorp'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 ToolsCorp Corporation and creating its mission statement?
2. Write the mission statement for ToolsCorp using the nine essential components in one paragraph. Where would you look for the information? What do you already know about ToolsCorp that can help?
3. What principle (s) would you use in order to prioritize the implementation steps needed to accomplish the strategic objectives?
4. What post implementation and feedback mechanisms would you have in place to evaluate the effectiveness of the process? What measures would you use?
5. What legal and ethical issues need to be considered?
The "boiled frog" phenomenon is a business term of significance to business in general and to strategic management in particular.
1. Based on your research, please describe how this phenomenon applies to business and particularly to strategic management?
2. Share a specific business/company example; discuss the particular situation where the Boiled Frog phenomenon occurred.
3. What reason(s) do you attribute this particular phenomenon to?
4. What could the business have done to avoid the effects of the phenomenon?
The response addressed the query is posted in 2236 words.
//Entering the foreign market can be challenging for any business organization, but this highly competitive world offers more opportunities to achieve success and generate high profit. Moving from a local place or region into an international market takes time. Establishing a specific, clear and measurable mission helps an organization in entering new markets around the world. The below section discusses the identity and mission statement for the ToolsCorp Corporation planning to enter into global market place//
Defining the identity of ToolsCorp Corporation
ToolsCorp Corporation is a renowned company famous for manufacturing power tools, lawn mowers, lawn furniture, microwaves, and ranges. The company has a thriving business in the US and Canada. The company is now planning to enter the global market place. For its new project, the company is planning to shift in Tennessee. In any business, a clear aim is very important. The company's management will recognize the role that its mission, vision and strategies play in its accomplishment and will implement a number of key performance indicators (KPIs) to examine and monitor its performance (Simerson, 2011). The ToolsCorp Corporation is required to understand the specific country's culture, religion, rituals, needs and demands before entering a foreign country as it will help the company to better understand the concept for that market.
The company's mission will guide the direction and the decisions it make as an organization. ToolsCorp Corporation is an organization built around consumers and employees, excellent quality products around the world and multiple opportunities for progress and these features will be important to the company's mission for the business in the global marketplace. Whether its power tools, lawn mowers, lawn furniture, microwaves, and ranges, the company's mission will be full of opportunities for both customers and employees. The company will plan to offer something new every time.
//Mission statement is an inspiring strategy adopted by organizational leaders to clearly and succinctly explain the direction of the business organization. Mission statement assists an organization to communicate aims effectively and motivate team members to identify an important and inspirational common vision of the future. The below section discusses the nine essential components of mission statement and other information associated with the ToolsCorp Corporation//
Mission Statement of ToolsCorp Corporation
The ToolsCorp Corporation aspires to be the most high valued business organization through the customers, communities, colleagues, employees and shareholders. For these things to be possible the mission of the company should possess following nine elements and each of them explains the sort of corporation ToolsCorp aspires to be:
Wanted and needed around the world
A rising business, full of opportunities
Winner locally while implementing new skills globally
To be an extraordinary international corporation in stores and online
To be excellent in everything the company manufactures
To be an innovator of highly valued brands
Modern, innovative and full of initiatives
To build effective team to create more value
Operate with the aim to motivate, inspire and earn trust from customers
The mission will aid the company in driving the business and inspire all stakeholders and encourage employees in achieving desired objectives. If well defined, it will help in convincing customers, suppliers and external stakeholders for its sincerity and commitment to them. The company is required to set objectives to its competitive position in each market that will be served by ...
The response addressed the query is posted in 2236 words.