Explore BrainMass

Explore BrainMass

    Able Corporation

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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?
    IN 2-3 PAGES

    © BrainMass Inc. brainmass.com June 3, 2020, 7:09 pm ad1c9bdddf
    https://brainmass.com/business/swot/able-corporation-88004

    Solution Preview

    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?

    We can define the identity of the Able corporation with respect to the industry it operates in and product line it manufactures and plan to distribute. A good starting point for writing the mission is to evaluate the mission statement of several peer companies around the globe which are doing similar business as Able corporation. We can visit the websites of such companies over the web and find clues about developing our own mission statement. The product line of Able corporation described in the question is of great help to us in identifying peer companies. One major global company which can be a good starting point for evaluation is Caterpillar Inc., the leading equipment manufacturing company in the world. A close look at the mission statement and positioning of such companies will give you a fair idea of the proposed mission and vision statement for Able to launch itself in global markets. A good mission statement should not only incorporate the history, corporate culture and business nature of the organization, but should also provide a clear and consensus view of the future growth path.

    Few proposed mission and vision statement could be:

    To establish itself as a pioneer in the power tools and home improvement equipments industry by providing world calass products at affordable prices and creating life long relationship with the consumer.

    or

    To become a global provide of world class tools and home improvement products of highest quality at affordable prices and establish itself as a pioneer and benchmark for peers in the ...

    Solution Summary

    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?

    $2.19

    ADVERTISEMENT