ToolsCorp Corporation is a fictitious company that does exist anywhere. For the purpose of this course, it is located it 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 •An outline of the business plan to be developed for ToolsCorp’s strategic initiative •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 •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.) Background Information ToolsCorp Corporation is a fictitious company that does 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. They have sale 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. Deliverable Length The deliverable length is at least 15 pages (cover page and reference page not included). As graduate business students, you are required to provide a well-researched and analyzed comprehensive response to every assignment question. Brief, vague, generic, or nondefinitive responses will not earn good grades. This group project requires a minimum of 15 scholarly sources, a minimum of 1 per page. You are welcome and encouraged to use the David textbook and the course materials for this course. For references, use the APA guide that is available as shown in the Virtual Campus under “Interactive Learning.” Remember that any paper longer than 10 pages requires the submission of an abstract. Submit your group’s Word document to your instructor via the Small Group Submitted Assignment area in APA format. Objective The Objective of the Unit 5 Group Project Assignment will involve the following the course outcomes and grading criteria with their respective percentages for the grading rubric: •Identify examples of good and bad business practices in the use of strategy design components (30%). •Research and discuss some of the changes occurring in the way that organizations structure themselves and their work (30%). •Develop plans to improve business operations (20%). •Use effective communication techniques (20%). PS: I need atleast 15 resources. The drop down order only gives me 10 as the maximum
TO BE RE-WRITTEN FROM THE SCRATCH
Abstract
ToolsCorp Corporation located in Memphis, Tennessee, is a company that builds power tools, lawnmowers, lawn furniture, microwaves and ranges. Its products are manufactured in the city and sold throughout North America via various wholesale and retail outlets such as Home Depot, Walmart and Amazon.com.
ToolsCorp is looking to expand into the global marketplace. This report is presented to ToolCorp’s Strategic Officers Steering Committee (SOS-C) and recommends development of a business plan for strategic initiatives to break into the global marketplace. The report includes a comprehensive SWOT Analysis of ToolCorp’s environment, a business plan outline and a review of the company’s mission statement. The report also recommends key operating principles to be applied and a preliminary market analysis. Further, it has three strategic proposals based on timeframes: with the strategic objectives of strategic initiatives covering one year, five years and ten years. Each strategic proposal lays out its implementation plans, ramifications and evaluation processes.
Additional material in the report includes an annual objective plan for the first year (Appendix 1). There is also a country profile of China, the first target market outside North America (Appendix 2).
SWOT Analysis
This SWOT analysis will look at ToolsCorp’s existing and proposed environment; both the company’s internal environment and the external industry environment(Porter, 1998).The environment scan will discuss five factors for each of the categories of strength, weaknesses, opportunities and threats.
Strengths
ToolsCorp has an internal environment that helps it to thrive in the industry. This includes a wide range of products that include power tools, lawnmowers, lawn furniture, microwaves and ranges. This diversified product portfolio contributes a balanced revenue stream to the company’s income ensuring that any decrease in revenue from a particular product is offset by revenue from the other products (Fine, 2009). Hence, it is difficult for the company to experience a drastic drop in overall income.
The company’s manufacturing plant is located in Memphis, Tennessee. The largest city along the Mississippi River, Memphis is a major manufacturing hub with well-developed infrastructure that includes an established transportation system. Apart from the river, the Bluff City has the Memphis International Airport, which is the second busiest cargo airport in the world. It is also served by extensive road and rail networks as well as distribution logistics company such as FedEx, a Fortune500 company…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….. Senior management team of ToolsCorp Corporation …………
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