Developing a Fictional Company -ToolsCorp Corporation
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.
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:
• 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). As a graduate business student, 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. You are welcome and encouraged to use the David text book and the course materials that came for this course.
For reference use the APA guide available as shown in the virtual campus under “interactive learning”.
Please submit your assignment as a Word document in APA format.
Objective: The Objective of the Unit 1 IP Assignment will involve the following the Course Outcomes and Grading Criteria with their respective percentages for the Grading Rubric:
• 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%)
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