28 Jun Strategic Planning – ToolsCorp Corporation
Question
Strategic Planning: ToolsCorp Corporation
PART 1 These parts I am working on the other parts at the present time. I need 1100-1300 words with at least 5 scholarly sources.
Background Information:
ToolsCorp Corporation is a fictitious Company that does not exist anywhere. For this project, we have 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 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, ToolsCorp is trying to break into the global marketplace.
With this information respond to the following:
At this point in time, you are at the beginning of a project, which will eventually yield (in six months) a complete business plan for ToolsCorp’s strategic initiative to penetrate the global marketplace. You will need to consider the strategic management process in building this business plan. In relation to this process, please prepare a report that provides appropriate responses to the following questions:
1. How would you go about defining the identity of ToolsCorp Corporation and creating its mission statement?
2. Write the mission statement for ToolsCorp using the nine essential components in one paragraph. Where would you look for the information? What do you already know about ToolsCorp that can help?
3. What principle (s) would you use in order to prioritize the implementation steps needed to accomplish the strategic objectives?
4. What post implementation and feedback mechanisms would you have in place to evaluate the effectiveness of the process? What measures would you use?
5. What legal and ethical issues need to be considered?
PART 2
The “boiled frog” phenomenon is a business term of significance to business in general and to strategic management in particular.
1. Based on your research, please describe how this phenomenon applies to business and particularly to strategic management?
2. Share a specific business/company example; discuss the particular situation where the Boiled Frog phenomenon occurred.
3. What reason(s) do you attribute this particular phenomenon to?
4. What could the business have done to avoid the effects of the phenomenon?
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