Review the web sites of companies participating in the power tool industry

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This paper will encompass key components on the strategies of three organizations which are deemed to be pioneers in the power tools industry. It will also discuss how to formulate a forecast for these organizations due to the diverse information which is provided.

Black & Decker

Black & Decker was founded by Duncan Black and Alonzo Decker, two ambitious entrepreneurs who had a small machine shop in Baltimore, Maryland. Black & Decker had a goal and mission which led to the creation of this successful organization. The company has experienced various milestones thanks to their focus on innovation and technology such as the introduction of the first power drill in 1915 and the development of the Lunar Surface Drill to remove core samples from the moon [1]. Much can be learned from the strategies of this organization as they are considered the market leader of product development and have grown in many areas of the market.

Corporate strategy. Black & Decker wishes to establish themselves at the finest "global manufacturer and marketer of power tools and accessories, hardware and home improvement products, and technology-based fastening systems." [1]. Their products are marketed throughout the world and much of their revenue is outside of the United States. They wish to foster on this success and increase their presence throughout the global marketplace in their vast array of products. The company has acquired companies such as tools group Pentair Inc. in order to expand market share. Yet, they are committed to preserving the quality of the environment. This is demonstrated through their "sound environmental management principles which are transitioned into the design, manufacture and packaging of their products. Additionally, they are a leader within their sector in chemical emission reduction, product stewardship and battery recycling" [1].

Business strategy. Black & Decker utilize multiple, differential, focus or niche strategies. For instance, in 1999 the company adopted the focus of expansion into the global market through utilization of the internet and e-business. This strategy was to foster growth in market share through gathering support of key retailers during their global expansion.

Functional strategy. Their focus is reducing inefficiency throughout the organization. This is seen through the adoption by the company known as the "cut-and-build" strategy which has reduced costs and improved distributions [1]. However, there are multiple areas within the company that make the organization a complete unit. Each has their own point of focus and their own goals to be achieved. A synopsis consists of the following:

- "Power Tools and Accessories segment which manufactures and markets consumer power tools, accessories, electric lawn and garden tools, and electric cleaning and lighting products under the Black & Decker® brand, and high-performance power tools, accessories, industrial equipment, laser products and air compressors under the DEWALT®, Porter-Cable® and Delta® brands.

- Fastening and Assembly Systems which serves the global automotive and industrial markets. This segment, known as Emhart Teknologies, applies advanced technology to the business of product assembly. It is the originator of highly recognizable brands, including POP® blind rivets, Parker-Kalon® screws, Gripco® locknuts, HeliCoil® wire inserts, Dodge® inserts, Tucker® stud welding equipment, and Warren® plastic and metal fasteners.

- Hardware and Home Improvement which manufactures and markets security hardware products under the Kwikset®, Baldwin®, and Weiser® brands; general hardware, decorative hardware and other home improvement ...