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Background Information:
ToolsCorp Corporation is a fictitious Company that does not exist anywhere. For the
purpose of this course, 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.
Assignment:
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:
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How would you go about defining the identity of ToolsCorp Corporation and
creating its mission statement? 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?
What principle (s) 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 and ethical issues need to be considered?
Deliverable Length: The deliverable length shall be of five to seven pages (cover page
and reference page not included). you are required to provide a well-researched and
analyzed comprehensive response to every assignment question. Brief, vague, generic, or
non-definitive responses will not earn good grades.
All individual project assignments require a minimum of five to seven (5 to 7) scholarly
sources, a minimum of one per page.
Grading: Please submit your assignment as a Word document in APA format.
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Identify examples of good and bad business practices in the use of strategy design
components. (30%)
Recognize situations that present potential legal and ethical issues and develop
solutions for those issues. (30%)
Develop plans to improve business operations. (30%)
Use effective communication techniques. (10%)
Pointers: ToolsCorp. IDENTITY AND MISSION STATE MENT(you need not craft a
mission statement in this unit. You have to discuss the 9 factors of a mission statement as
discussed in the text)
FACTS that are known aboutToolsCorpCorporation
WHERE to search for information on this organization were it real(3 sources)
1.
2.
3.
Prioritizing the Steps for Implementation of Strategic Objectives (6 steps/Stickman See
learning material)
Internal environmental factors
External Factors
Evaluation of Effectiveness of Process – Feedback Mechanisms
Legal and Ethical Challenges for Global Implementation of Strategy
References
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