Strategic Planning: ToolsCorp Corporation

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//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 ...