An outline of the business plan to be developed for ToolsCorp’s strategic initiative
Post an executive summary of your Comprehensive Project in the body of a post in this Discussion Board (do not use attachments). An executive summary is a 10% synopsis of a larger document that outlines the purpose, planned processes, actual processes, findings, and recommendations for the project. Chief executive officers (CEOs) often read and assess executive summaries before deciding to read entire reports. Consequently, the summary must be a high-quality narrative that demonstrates the significance of the work, addresses all the important issues being undertaken – the seven GP questions are important issues – shows, the objectivity of research and analysis underpinning the report, and establishes the credibility of the resulting conclusions.
Review the executive summaries of other students, and provide an objective assessment and constructive feedback that will help strengthen the effectiveness of their efforts and the quality of their finished reports.
for question 2 I have to send you a student executive summaries
For question 2
student Svitlana Vidal
ToolsCorp Corporation is a company with head quarter in Nashville, TN and additional locations in other states and in Canada. The products of the company include power tools, lawn mowers, lawn furniture, microwaves, and ranges. All products are manufactured locally and are distributed through large retailers. Currently, ToolsCorp is planning to expand its business into global market including countries of South America, Europe, and Asia. The purpose of this document is to obtain an approval from the Strategic Officers Steering Committee of ToolsCorp Corporation for developing a full business plan of entering into the global market.
The company produces the lawn mowers with as high quality as John Deer’s but with more affordable price. The company’s power tools products have higher quality than Dewalt’s power tools but have approximately the same price. The functionality of the company’s lawn furniture is greater than the main competitor’s U-Max, and the prices of the ranges are much less than the competitor’s such as GE, Samsung, and Cosmo. It is believed that the targeted customers outside the USA will benefit from using ToolsCorp’s products as they combine high quality standards and affordability.
The SWOT analysis conducted for the purpose of expanding the business abroad showed that the company has a lot of strengths that can be useful while expanding the business and great opportunities in the world markets. The strengths include strong management, skilled staff, unique products, and significant cash flows. Huge sales markets and proximately 50M target customers are considered opportunities for the company. Weaknesses include human resources limitations, lack of the brand awareness abroad, no previous experience of doing business in some areas of the world. The cost of technology investments, taxation and customs in different countries, as well as government regulations are considered threats for the company. The expected revenue growth is minimum 25% per year.
The findings of the research show that expanding into the global markets will benefit both ToolsCorp and the target customers. It is recommended to proceed with the development of the business strategy for the company.
Question 1 information ONLY FOR YOU TO WRITE THE An executive summary
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located in Tennessee. As members of the senior management team of ToolsCorp Corporation, your group has been asked to prepare a neat and organized report for the Strategic Officers Steering Committee (SOS-C) of ToolsCorp Corporation. The purpose of this paper is to obtain permission from them to go forward with the next step (developing a full-blown business plan) for ToolsCorp’s strategic initiative to break into the global marketplace.
Your group’s paper should discuss the following (at a minimum):
A complete strengths, weaknesses, opportunities, and threats (SWOT) analysis (including at least 5 factors from each category and full explanations of why each factor is important and why it was placed in the category) of the environment that exists within ToolsCorp and the environment that ToolsCorp is proposing
A full mission statement containing the nine components and presented in a well written paragraph
Key operating principles as you will apply them
A preliminary market analysis of the market(s) into which ToolsCorp expands
The one-year, five-year, and ten-year strategic objectives of the strategic initiatives presented as one strategic proposal for each time frame (3 strategic proposals in all), complete with implementation plans, potential ramifications, and feedback mechanisms
The additional material that your group considers necessary to support the case for going forward with ToolsCorp’s global strategic initiative (This is not optional, you must input additional material.)
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located it in Tennessee. It builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. All products are manufactured locally and sold through large retailers that place sales papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the United States and Canada, ToolsCorp is trying to break into the global marketplace.
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