Able Corporation Business Plan

Able Corporation Business Plan

Statement of Academic Integrity

I certify that:

1. I prepared this document specifically for this class;

2. I am the author of this document;

3. I am fully disclosing and giving proper credit to any outside assistance received in its preparation;

4. I cited sources of information (e.g., data, ideas, charts, etc.) and used this material to support this document.

Student's Signature: Crystal Clark

Introduction

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.

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?

Submit your project to the instructor via the Drop Box.

Able Corporation Business Plan

1a) How would you go about defining the identity of Able Corporation and creating its mission statement?

The identity of Able Corporation can be defined by having a good understanding of power tool companies and lawn equipment companies the whole power tools and lawn equipment industry. An important factor would be to check out our competitor's profile in the industry. We need to decide what our primary focus is going to be; power tools lawn equipment, or appliances.

In order to create our mission statement we would first look into existing statement's of competitor's but also realizing we need to expand it a little bit to include our global vision. We would tell them who we are, what we do, what we stand for and why we do it. We would let all members of our organization help with the statement. So we can make sure we all really believe it and it's not a lie (King, 1998).

1b) Where would you look for the information?

Places we would look to find the information would be in industry publications, journals, websites for the power tool industry, lawn equipment industry and appliance industry. Something else that should be done is to check out our competitor's websites and any other information we can gather (King, 1998).

1c) What do you already know about Able that can help?

x Able Corporation is a US manufacturing company

x Able Corporation is located in Tennessee

x They build power tools, lawn mowers, lawn furniture, microwaves, and ranges.

x Their products are manufactured locally and sold through large retailers like Sears, Best Buy, and Wal-Mart.

x They have sale papers inserted in every Wednesday and Sunday paper.

x Able Corporation has a thriving business in the US and Canada, and is trying to break into the global marketplace

2) What principle would you use in order to prioritize the implementation steps needed to accomplish the strategic objectives?

We already have successful plants in the US and Canada, so we want to go global. We would need to focus on our global vision above all. We need to do environmental scanning,