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Able Corporation

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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:

* 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 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?
* What legal or ethical issues, if any, need to be considered?

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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?

The identity of Able corporation can be defined by taking a closer look at the mission, vision, corporate level objectives and corporate culture of the company. In other words, Able's identity will be reflected in the goals and objectives of the company, as well as strategies outlined by the company to achieve those objectives.

Further, the company's products, services, its target customers as well as geographical reach will also define its identity. For ascertaining this information, company's website will be a good source. Further, company's annual report, management's discussion, etc. will also provide good insight about this information. The information that we already know and will be helpful to us are details about its products, geographical presence and the industry in which it operates.

Mission Statement: To become a global leader in manufacturing and distribution high quality and reliable ...

Solution Summary

Able Corporation is a successful US manufacturing company located in Tennessee that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges.

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Able Corporation and Business Plan Preparation

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

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 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?
What legal or ethical issues, if any, need to be considered?

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