Strategic Management

This report provides information about ToolsCorp Corporation, including a SWOT analysis, business plan, mission statement, and strategic proposals for one, five, and ten years.

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Strategic Management
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Contents
Introduction......................................................................................................................................1
SWOT Analysis...............................................................................................................................1
Strength........................................................................................................................................1
Weakness.....................................................................................................................................1
Opportunity..................................................................................................................................2
Threats.........................................................................................................................................2
Business Plan of ToolsCorp.............................................................................................................2
Mission Statement...........................................................................................................................3
Key Operating Principles.................................................................................................................3
Preliminary Market Analysis...........................................................................................................4
Strategic Proposal............................................................................................................................4
One-year strategic proposal.........................................................................................................4
Five-year strategic proposal.........................................................................................................4
Ten-year strategic proposal..........................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................7

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Introduction
The purpose of this report is to explain to the reader regarding information about the
company ToolsCorp Corporation. The organization is placed in the Tennessee location of US
and builds power tools, lawn furniture, lawnmower, ranges and microwave. The company
provides its products in the North America through several wholesaler and retail outlets like
Walmart, Home Depot and Amazon etc. Further, the company is aiming to expand its scope of
operations in the global market. The report enlightens the Strategic Officers Steering Committee
(SOS-C) of ToolsCorp to develop a business plan that would help the company to be profitable.
Further, more details about the report are discussed below:
SWOT Analysis
The SWOT analysis of ToolsCorp will analyse the internal as well as external
environment and will provide the situational analysis of the company on the basis of information
provided:
Strength
ToolsCorp has a positive internal environment that helps the organization to thrive
success in the external market. The organization provide wide range of products in the market
that involve power tools, lawn furniture, lawnmower, ranges and microwave. The company
provide wide range of products that increases its profitability in the market. Even if revenue from
one product is not received to the company then also another product of the organization will
sustain its growth in the market (Noe, 2017). The manufacturing plant of the company is in
Tennessee so the company does not need to transport the product to different location so as to
increase its sales. Resulting in which, the prices are also affordable.
Weakness
The internal factor that reduces the development of the company is limitation of the
business in the external international market. The activities of the organization are limited in the
market of North America only due to which the company is unable to tap the customer present in
the different parts of the world. This reduces the efficiency of the company in the external

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environment as other organizations have a strong market presence but ToolsCorp is limited in the
market of US only. Also, it should be noted that the rate of production in US is higher than the
rate present in other countries like China, Thailand etc. (Kasemsap, 2018).
Opportunity
ToolsCorp has the opportunity to grow and increase its business activities in the external
environment by expanding its operations in different country. The company gains the
opportunity to expand its scope of business in the country where there is less competition in the
industry and more service receivers as well. They can also setup the business activities at a place
where the climatic conditions are favourable and the tools and resources are feasible as well. The
company can acquire several brands in the market that provide niche products and
complimentary products and services as well (Silvius, 2018).
Threats
An external factor that can reduce the degree of success of ToolsCorp is availability of
international agencies in the external market. As the company is only present in the market of
North America so emergence of multinational companies in the domestic market of ToolsCorp
can reduce its efficiency to work in the industry. The company also suffers from regulatory or
political risk in the business environment as some countries have higher barriers at entry to
promote the activities of local companies in the external market (Michael, Storey, & Thomas,
2017).
Business Plan of ToolsCorp
Below mentioned is the outline for the company ToolsCorp that will help the business to
develop an objective along with strategic initiatives of presenting themselves in the international
market. The highlights of the aspects of business plan are discussed below:
1. Company description
2. Industry analysis and trends
3. Market
 Target market
 Market size

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4. Competition
5. Strategic positioning and risk assessment
6. Marketing plan and sales strategy
7. Operations
8. Technology
9. Management and organization
10. Social responsibility and sustainability
11. Finances
 Assumptions
 Break-even analysis
Mission Statement
The mission of the organization ToolsCorp is to serve people who like spending quality
time outdoors. The company wants to increase the satisfaction level of people by providing them
high-quality and effective power tools, furniture and appliances as well. The company also
focuses on green initiatives in the business and responsibly having the environmental initiatives
as well (Kara, & Fırat, 2018).
Key Operating Principles
The ToolsCorp organization encourages teamwork and collaboration among individual,
branches and departments. The company make use of participative techniques to improve the
decision making process of the organization. Further, the organization also aims to ensure
appropriate quality and efficacy of the products and services in the business environment. The
staff members of the organization are ethically and socially responsible in conducting action plan
in the target environment. Lastly, the organization is also committed to conserving the
environment and sustaining the resources in the business environment (Denicolai, Håkanson,
Majocchia, & Zucchellaa, 2016).

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Preliminary Market Analysis
The organizations ToolsCorp creates and sell qualitative power tools, lawn furniture,
lawnmowers, ranges and microwaves in the business environment. The products of the company
target the demographic that values quality along with high income. The product also target
people who like spending quality time in the outdoor environment and in the kitchen as well. The
organization distributes and sells the product in US and Canada using various outlets like
Walmart, Amazon, and Home Depot etc. The company also aspires to be market leader external
environment by reducing the level of competition and increasing the satisfaction level of people
(Ross, 2016).
Strategic Proposal
Following are the strategic proposal that enable the ToolsCorp to increase the business
functions effectively in the external environment. Below mentioned is the strategic proposal that
should be implemented by the organization over period of one year, five year and ten years.
One-year strategic proposal
For one year, the company should aim to expand the business in the Asian as well as
European market. The company should open Warehouses are different centres in China and in
Berlin as well. The company should employ local staff at the company and they should target the
people present in Asian and European market. The company should aim to increase the market
share by 5%. They should identify the distributers present in the new market and they should
utilize their knowledge and resources to attract people towards the products and services of the
business. The company should also develop social media marketing activities in the business
environment to increase traffic on social media and promote the activities of the company in new
market (Zhang, & Warner, 2017).
Five-year strategic proposal
For the next five years, the organization should aim to expand the scope of business in
the international market by opening up stores and developing a manufacturing plant in that area.
The company should develop the one year mission by organizing manufacturing plant at places
where they have their outlets only. The company should send their employees to the new places

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so as to develop the new plant and initiate standardization in the activities of the company. The
company should aim to create a social media website and increase traffic on the website. The
company should also aim to attract sales from the online tools by 20% in the market. Lastly,
under the five year plan, the organization ToolsCorp should aim to increase the number of
manufacturing plant and the employees as well. The business should also aim to increase
customer satisfaction as well (Luo, Zeng, & Liu, 2015).
Ten-year strategic proposal
Under the ten year strategic plan, the organization ToolsCorp should develop the business
structure by increasing the product segment. The organization should increase the products and
services offered by them in the market. They should also start focusing on the manufacturing
plant of the company. The organization should focus on increasing the corporate social
responsible activities in the environment so as to increase the attention of the customers towards
the company. Thus, in this way ToolsCorp should lead a green initiative to attract people and
increase sales by 7% in the business environment (Pedersen, & Slepniov, 2016).
Goal Time Period (years) Growth Objective Concerned
Department
Develop warehouse in
Asian and European
Region
1 Expand the business
functions in new areas
and increase market
share by 5%
Management
Develop
manufacturing unit in
Asian and European
Region and online
activities
5 Manufacture products
in Asian and
European region and
increase sales by 20%
through online tool
Operations and
Marketing
Increase CSR
activities to attract
people
10 7% increase in sales
through green
initiatives
Public Relations

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Conclusion
Thus, by evaluating the above mentioned events, the fact should be noted that the above
mentioned paper highlighted information about the company ToolsCorp. The company is a well
reputed and famous organization present in the North American market. Further, the company is
aiming to grow in the external environment using the above mentioned SWOT analysis. One,
five and ten years strategic objective has been discussed in the paper to throw light on the future
objectives of the business. The report finally determines the future roadmap for the company
ToolsCorp in the market of Asian and European region.

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References
Denicolai, S., Håkanson, L., Majocchia, A., & Zucchellaa, A. (2016). Striking the Right Balance:
Sources of Knowledge in International Expansion. In The 42nd EIBA Annual Conference
2016. European International Business Academy.
Kara, M. E., & Fırat, S. Ü. O. (2018). Sustainability, risk, and business intelligence in supply
chains. In Global Business Expansion: Concepts, Methodologies, Tools, and
Applications(pp. 1424-1461). IGI Global.
Kasemsap, K. (2018). The role of information system within enterprise architecture and their
impact on business performance. In Global Business Expansion: Concepts,
Methodologies, Tools, and Applications (pp. 1078-1102). IGI Global.
Luo, H., Zeng, Y., & Liu, B. (2015). Firm Expansion, Insufficient Incentives, and Managerial
Perquisites. Journal of Accounting and Economics, (1), 3.
Michael, S., Storey, D., & Thomas, H. (2017). Discovery and coordination in strategic
management and entrepreneurship. Strategic entrepreneurship: Creating a new mindset,
45-65.
Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource
management: Gaining a competitive advantage. New York, NY: McGraw-Hill
Education.
Pedersen, P. C., & Slepniov, D. (2016). Management of the learning curve: a case of overseas
production capacity expansion. International Journal of Operations & Production
Management, 36(1), 42-60.
Ross, D. F. (2016). Introduction to e-supply chain management: engaging technology to build
market-winning business partnerships. CRC Press.
Silvius, G. (2018). Integrating sustainability into project risk management. In Global Business
Expansion: Concepts, Methodologies, Tools, and Applications (pp. 330-352). IGI Global.

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Zhang, X., & Warner, M. E. (2017). Business retention and expansion and business clusters–A
comprehensive approach to community development. Community Development, 48(2),
170-186.