Please Note: the unit 4 DB assignment says it has 2 partsand it does have two questions to which you must respond. However, Q1, is a bear, please read it carefully. Each response should be about 3-4 paragraghs.
Q1 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. (GP-Related, Specific Information Required)
Q2 Please 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. (opinionated)
Topic- ToolsCorp Corporation is a fictitious Company that does not exist anywhere. For the purpose of this course, we have 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.
Q1 A complete SWOT analysis (strengths, weaknesses, opportunities and threats, including at least five factors from each category and full explanations of why each factor is important, how do you intend to use the factor, and why it was placed in the category) of the environment that exists within ToolsCorp and the environment ToolsCorp is proposing.
Hint: use the SWOT and Strategy file (SASF) for reference, the Required SWOT Writing Format is depicted therein. Remember that you cannot assume or make things up about ToolsCorp, so the internal factors will require some thought, but you can draw logical conclusions from facts on similar real firms in the same industries, so research those real firms, also remember that external factors for similar firms in the same industries may indeed be the same
Q2 An outline of the business plan to be developed for ToolsCorp’s strategic initiative
Hint: decide among you where you are going to expand globally and to what level of involvement you intenddoing so is crucial to all GP questionsresearch business plans and find one for a manufacturing firm going where you intend, tailor it to ToolsCorp specifications, remember, this is just an outline, not a formal business plan, so it does not have to be specifically detailed, but it must be specific to ToolsCorp, where they are going globally, what sort of involvement they intend, whether or not they will make a JV commitment, etc., other important but general information.
Q3 A full mission statement containing the nine components and presented in a well written paragraph
Hint: be sure write in a succinct manner, carefully choosing your words to include the nine essential elementsfound in the Learning Materials sectionbe sure to research several sources for writing mission statements.
Q4 Key Operating Principles as you will apply them
Hint: a KEY operating principle is a value or ideal a firm uses to help it make its decisionsfamous principles are the customer is always right or quality is our most important product, tell us HOW they would help guide decisions.
Q5 A preliminary market analysis
Hint: research market analysis, find one for a manufacturing firm going global to a country in the same region and with a similar involvement and tailor it to ToolsCorp specifications; remember, this is just a preliminary market analysis, not a formal one, but you must at least analyze the country or region of the globe intended for expansion, the type of involvement in that country or region, which products would best suit target market, the economic and socio-cultural specifics of that area, etc.
Q6 The one-year, five-year, and ten-year strategic objectives of the strategic initiatives presented as one strategic proposal for each timeframe (three strategic proposals in all) complete with implementation plans, potential ramifications, and feedback mechanisms
Hint: See SWOT and Strategy file (SASF) for strategy specifications, the Required Strategy Writing Format is depicted therein. There are three full strategies required, they should build upon each othere.g., one year to open the manufacturing facility and begin production and meet production quotas in the host country, five year to open retail stores and meet sale quotas in the host country, ten year to expand to other host countries for manufacturing, production and sales
Q7 The additional material that your group considers necessary to support the case for going forward with ToolsCorp’s global strategic initiativethis is not optional, you must input additional material.
Hint: additional material may be the single most important thing done on any major business project, the additional material is something not already covered in the project plans which may help ensure a successful expansion project. The additional material can be anything, but make sure it is meaningful enough to warrant inclusion into your project. Obvious additions, such as, qualified personnel, needed equipment, knowledge of laws and culture, etc., are standard procedures for any global business and will not earn best grades. Think this one through.
PLEASE NOTE THE REQUIREMENTS LISTED BELOW FOR LENGTH AND RESEARCH MINIMUMS.
Background information on ToolsCorp Corporation.
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. The large retailers have sale papers inserted in every Wednesday and Sunday paper where they have retail outlets. Although they have a thriving business in the United States and Canada, ToolsCorp is trying to break into the global marketplace.
Hints: Since ToolsCorp already uses the large retailers (Big Box Retailers) as its primary means of retailing and marketingsee the Conclusion Drawn by ToolsCorp fileyou may see that simply negotiating additional big box contracts in different areas of the world may be a good way to expand globally. However, you must realize that to do so, ToolsCorp must produce more products to supply the new big boxers; so ToolsCorp will have to manufacture more products and doing so at less cost is the preferred strategic direction. You should also see that to complete the GP you must use the few known facts, presented in the assignment about ToolsCorp, to draw logical conclusions based upon research of similar real firms in similar real situationssee the Drawing Logical Conclusions file.
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