Able Corp: mission statement, strategic objectives
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Background Information:
Able Corporation is a successful 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.
Assignment:
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 Able'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 Able Corporation and creating its mission statement?
2. Where would you look for this information?
3. What do you already know about Able than can help?
4. What principle would you use in order to prioritize the implementation steps needed to accomplish the strategic objectives?
5. What post implementation and feedback mechanisms would you have in place to evaluate the effectiveness of the process?
6. What measures would you use?
7. What legal or ethical issues, if any, need to be considered?
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Solution Summary
Able Corporation is a successful 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.
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1. How would you go about defining the identity of Able Corporation and creating its mission statement?
There are several things that can be utilized to define the identity of any organization such as Able Corporation. First of all, the industry or business segment in which the organization operates is a major indicator of defining the identity of an organization. Secondly, the core strategy, as outlined by the company's founders and management on company's website, annual reports or press releases/media interviews is a helpful indicator in defining the identity of organization such as Able Corporation. The company's longer terms goals, objectives, philosophies are other useful pieces of information that can be used to define the identity of Able Corporation.
In terms of creating the mission statement of the organization, I will carefully study the objectives, goals and vision of the organization and the core philosophies and elements based on which the organization wish to achieve its goals. The core strategy needs to be studied as well to arrive at the mission statement which will clearly define the journey of the organization from its current state to the desired future position and the core elements on which such journey will be based, as well as the core principles that the organization wish to adhere to in its pursuit of attainment of longer term mission.
2. Where would you look for this information?
Some of the places to look for such information include:
1) Company's website
2) Publications such as annual ...
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