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Date: April 17, 2010Students Names: Wallace Sutton, Nyah Whitaker and Tomeika Williams Course: MGT680-1002A-03 Strategic ManagementAssignment: Unit 4 GPTitle: Strategy Implementation and Control
Task/Weight Assessment:
Wallace Hampton Sutton, SWOT Analysis, Strategic Objectives & Proposal, Additional Material, 33.34%Nyah Whitaker, Business Plan Outline, Market Analysis & Additional Material, 33.33%Tomeika Williams, Mission Statement, OP Principles, Compile Paper, Abstract, Additional Material, 33.33%
STATEMENT OF ACADEMIC INTEGRITY
We certify that:
1. We prepared this document specifically for this class;
2. We are the author’s of this document;
3. We are fully disclosing and giving proper credit to any outside assistance received in its preparation;
4. We cited sources of information (e.g., data, ideas, charts, etc.) and used this material to support this document.
Students’ Signatures: Wallace Sutton, Nyah Whitaker and Tomeika Williams
ABSTRACT
In this paper we explored Able Corporation and the information needed in order to define who
they are and their strategic initiative to break into the global marketplace. We explored a full
SWOT analysis for Able Corporation explaining several strengths, weaknesses, opportunities
and threats that the corporation faces. We go further into explanation of each factor and how they
can positively or negatively affect Able as well as internal or external factors. We formulated a
preliminary outline of the business plan Able should adopt as well as developed a rudimentary
mission statement that we feel describes the company and their given vision. We listed the key
operating principles that we feel Able corporation should primarily focus on as well as provided
a full market analysis to show current and future framework for market focus and penetration.
We defined one, five and ten year strategic objectives for Able Corporation and developed three
strategic proposals that outline implementation, possible ramifications and feedback mechanisms
related and directly connected to weaknesses and threats posed on the corporation from the
developed SWOT analysis. We explored additional information that will explain why Able is
suited to expand globally such as the advantages of foreign markets and the importance and
background on sales forecasting, delivery and supply channels. From the analysis of the internal
and the external environment of Able Corporation, it is quite evident that the company’s
strengths outweigh its weaknesses. In addition, the major threats facing the company are not
anyhow different from those faced by its key competitors. Furthermore, the company has
numerous opportunities particularly for the company’s new innovative cordless tools. In this
perspective, we have found that breaking into the global market would avail numerous
opportunities to the company and thus increase its profitability.
INTRODUCTION
As members of the senior management team of Able Corporation, your group has been asked to prepare a neat and organized report for the Strategic Officers Steering Committee (SOS-C) of Walden International, the parent company of Able 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 Able's strategic initiative to break into the global marketplace.
Your group's paper should discuss (at a minimum):
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 and why it was placed in the category) of the environment that exists within Able and the environment Able is proposing.
A preliminary outline of the business plan to be developed for Able's strategic initiative A rudimentary mission statement Key operating principles A preliminary market analysis 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
The additional material that your group considers necessary to support the case for going forward with Able's global strategic initiative—this is not optional, you must input additional material.
Notes:
Background information on Able Corporation can be found in the Unit 1 Individual Project assignment.
Your work MUST include a reference list. All research should be cited in the body of the paper. Reports without citations may not earn any higher grade than a ‘C’ letter grade. Your report should contain an abstract, a short introduction, and conclusion in addition to the body of the paper. Please note that if you have a source in your reference section, you need to cite it in the body of the paper per APA guidelines and vice-versa.
Deliverable Length: There is no set deliverable length for this assignment. 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 group project assignments require a minimum of nine (9) scholarly sources. Your group is welcome and encouraged to use the David text book and the course materials that came for this course; however, make sure to use a minimum of at least nine (9) scholarly sources as well.
Please add your file as a Word document in APA style 6th edition format.
Able Corporation is a successful US manufacturing company located in Tennessee that
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, Able is trying to break into the global marketplace. This report
will among other things include the benefits of breaking into the global market and a complete
analysis of the company’s strengths, weaknesses, opportunities and threats both in its current and
in the proposed global environment.
Secondly, the global market is a playground where numerous players interact with each
other. In this perspective, the company will more likely get new challenges, skills and knowledge
which would go along way into increasing the quality of its products to suit the global market.
Hence, the global market acts as a catalyst through which the quality of products is raised to
meet the global demand.
ABLE CORPORATION ( the Body section)
It is crucial for the company’s management to carry out an analysis of the company’s
strengths, weaknesses, opportunities and threats before the strategic decision of breaking into the
global marketplace is made. A SWOT analysis is an important tool that will help the
management to determine the current position of the company in order to have a clear picture of
the company’s capability to compete in the global market.
Able’s strengths
Technological leadership
The Company has remained a stable producer of power tools, lawn mowers, lawn
furniture, microwaves, and ranges through its unique technology which puts it in a strategic
competitive position in the domestic market.
Why it is strength
Technological leadership is one of the internal strengths which have helped the company
to produce unique products from those offered by its competitors.
The company’s culture
The Company has a workable and a practical culture which necessitates creativity and
innovation among its staff. The Company’s corporate culture is expressed in the words,
“Working from Within to Tap the Best”. The company’s culture ensures that the management
provides a favorable environment from where the staff uses their skills and knowledge to design
and produce high quality products (Barney, 2002).
Why it is strength
Able’s corporate culture is a strength because it necessitates the selection and recruitment
of highly skillful and knowledgeable employees who eventually pull their efforts together to
produce high quality products with a high demand in the market.
Ability to serve industrial channels and individual consumers
The demand for the company’s products is not only among individual consumers but also
in large industrial channels. Industrial channels unlike individual consumers buy the company’s
products in large quantities at favorable prices. As a matter of fact, some industries purchase
Able’s products for export purposes and therefore the presence of Able’s products is already felt
in the global market (Associated Content: link provided).
Why it is strength
The ability to serve the industrial channel and the individual consumers ensures that the
company has a ready market for its products. It is therefore a strength because the company’s
products remain on high demand in all the seasons.
Staffing and Training
The company has effective staffing strategies which ensure that highly qualified
employees are brought to the company through proper selection mechanisms. Highly skillful and
qualified employees ensure that they undertake their responsibilities with utmost creativity. In
view of this, the company’s circular saw market share has a 40% presence due to the high quality
of the circular saws offered by the company in the market. In addition to the selection of
qualified staff, the company undertakes frequent trainings to ensure that the staff posses the
required skills which enables them to remain relevant in the industry.
Why it is a strength
Effective staffing and training provides the company with a diverse human resource with
diverse capabilities. Talented people in the company always ensure a continuity of quality
products which guarantees a high demand for the company’s products. For example, through its
talented employees, Able Corporation has had a significant achievement in the cordless market
segment and as a result, the company has earned itself a status of a leading innovator in cordless
products.
A well developed brand equity
Since numerous and similar products have been produced by the company’s competitors,
customers still pay a higher price for the Able’s products due to its branding which adds value to
the finished products. A basic service or product produced by Able Corporation attracts a higher
price ad compared to a product which is not branded.
Why it is strength
Well developed brand equity enables Able Corporation to command a large share of the
market by making the product more attractive. The company’s products are relatively expensive
as compared to its competitors and this result into higher profit margins.
Perceived quality of Able’s Products
This is another strength associated with Able Corporation’s products. Due to its
technological leadership, equity branding, higher prices and the command of a significant share
of the market, Able’s products are perceived to be of higher quality than those of its competitors.
Why it is strength
This is a great strength because of all other factors, perceived quality of a company’s
products results into better performances. It drives the whole aspect of the wide variety of the
company’s products.
Perceived durability of the company’s products
In addition to the perceived quality of the products produced by Able Company, the
perceived durability of the company’s products has also contributed significantly towards the
increased demand of the products. At its inception, the company began by introducing durable
and quality products in the market. Thus the company created a positive image in the eyes of the
consumers with regard to the durability and quality of its products. Able Corporation’s image
still functions positively, even when the company’s products are less durable.
Why it is strength
Perceived durability of the company’s products attracts a wide range of customers thus
ensuring that the company remains profitable all the time.
Weaknesses
The company’s weaknesses refer to deficiency in capabilities and resources which can
obstruct economic value generation or prevent the company from attaining its competitive
advantage position. Able Corporation has several weaknesses which includes;
Lack of a marketing strategy
The Company does not undertake aggressive marketing campaigns through the internet,
radio, television, phones and other channels of communication. As a result, the company’s sales
volumes have been on the decline due to lack of public awareness concerning the company’s
products.
Why it is a weakness
Lack of proper marketing strategies means that the company serves only a small segment
of the domestic market and therefore the larger market segment is not yet exploited. This limits
the company’s sales volumes. A lot of companies which desire to grow beyond their domestic
markets spend huge amounts of financial resources in marketing their products and Able is not
an exception if it anticipates breaking into the global marketplace. For example, cordless tools
are a totally new innovation. However, due to lack of intensive marketing campaigns, the
cordless products have continued to record slowed growth in sales volumes.
Ineffective management
Management plays a crucial role in directing the company’s resources into constructive
undertakings. However, when the management falls short of its expectations, most processes are
also affected. The constant disagreements which have been witnessed in the company’s levels of
management have not only resulted into inconsistent information internally but it has also
resulted into slowed decision making processes.
Why it is a weakness
Ineffective management due to constant internal wrangles has slowed down decision
making process in the company thus crippling many constructive processes. While the
employees depend entirely on the management for guidance, ineffective management instills fear
among the employees which affects their performance. Able’s productivity is therefore crippled
by the constant internal disagreements.
Improper location of manufacturing plants
Every company desires to have a smooth running of its process without major disruptions
from external parties. Able’s manufacturing factories or plants are located in highly unionized
regions which result into constant disruptions as a result of employees strikes which are backed
by the union officials.
Why this is a weakness
Constant disruptions of the company’s manufacturing processes prove costly to the
company, first due to the demand gap created in the market as a result of shortage of the
company’s products when the employees lay down their tools and second, due to constant court
cases which the company has to address with its own financial resources.
Dilapidated manufacturing plants
The company’s manufacturing plants are not well maintained which lowers their
production efficiency. As a result, the plants do not perform to their full capacity which leaves
the company with a wide production gap.
Why this is a weakness
A dilapidated and un-serviced manufacturing plant limits the production capacity of the
company and reduces the product units in any given process. Reduced production results into
low sales volumes and thus low revenues realized by the company.
High operating costs
As a result of low technological integration in its production processes, the company still
relies heavily on human resource to carry out its production processes. This increases the
company’s operating costs due to wage, salary and other types of payment required by the
workers trade unions.
Why it is a weakness
High variable costs of operations eat away the company’s revenues which reduces the
profits realized by the company. Increase in operating costs is also as a result of dilapidated
manufacturing plants which perform below their expected capacity.
Blocked in low voltage products
While its relative early entry into the market has helped the company to dominate a
significant share of the market, the company’s products has been limited to lower voltage
products due to the interchangeable nature of the batteries.
Why it is a weakness
As the levels of innovation continues to rise, Able Corporation will have to embrace and
adopt serious growth strategies in order to shift from low battery technology to higher power
voltage in order to remain relevant in the market. This will therefore involve additional costs of
shifting production.
A bureaucratic management structure
Able’s management structure is also a weakness to the company. The bureaucratic
structure of the company’s management limits the competitiveness of the company especially
due to inflexibility to adjust to changing market needs. The recent companies such as SSW have
dynamic management structures but have badly outpaced Able Corporation in certain market
segments.
Why it is a weakness
As mentioned above, bureaucratic management structure is inflexible and thus takes a
longer time for decision to be made and implemented. It results into serious delays in the
production processes which affect the overall performances of the company.
Opportunities
Despite the above weaknesses facing the company, Able Corporation has numerous
opportunities which include;
High demand for cordless tools
The contemporary business environment demands strict adherence to strict deadlines. As
a result, the demand for cordless tools which ensures effectiveness in project undertaking
especially in the construction sector avails a significant demand for the company’s cordless
products.
Why it is an opportunity
Able’s cordless tools have and will continue to have ready markets now and into the
future because the construction sector is an ongoing business.
Brand loyalty
Able Corporation has the highest level of brand loyalty. It means that the company is able
to withstand the stiff competition which has infiltrated the industry.
Why this is an opportunity
By continuing to satisfy its loyal customers, the company will not only realize its sales
targets but it will also increase its customer base through the word of mouth from the loyal
customers.
Expansion into the global market
The recent gesture by the company’s management to break into the global marketplace is
a great opportunity for the company given its unique technology in the production of unique
power tools, lawn mowers, lawn furniture, microwaves, and ranges.
Why it is an opportunity
Breaking into the global market will increase the company’s customer base; increase its
units of production to satisfy the additional demand from global customers, increase its sales
volumes, enjoy economies of scale due to enlarged production capacities and bring in new skills
from the global market which can raise the quality of its products. The overall result will be
significance increase in profits.
Technological advancement
The advent of new interactive technologies such as the use of the internet is a great
opportunity that Able Corporation will exploit particularly in marketing its products in the global
marketplace. As opposed to physical selling, online products selling will help to reduce the
storage costs incurred by the company when storing its products for selling.
Why it is an opportunity
Integrating technology in its marketing operations will ensure that the company reaches
numerous customers within a short period and using minimal costs.
Increase in housing starts
The notable increase in the number of housing projects which have been started over the
last 5 years is a great opportunity for Able Corporation because of the increased market for its
products.
Why it is an opportunity
Since the company operates in the PEPT or the Portable Electric Power Tool market, the
increase in housing starts or housing projects increases the demand for the company’s goods.
Increase in commercial construction expenditures
Over the last 5 years, significant amounts of financial resources have been directed
towards the commercial construction which is one of the gigantic industries in the United States.
A large amount of these expenditures are used to purchase Portable Electric Power tools which
increases Able’s market for its products.
Why it is an opportunity
Just like the increase in housing starts, increase in large scale commercial constructions
will increase the demand for PEPT products from Able Corporation and other key competitors.
Niche for new services or products
Able Corporation has a wide market niche for its new services and products. This gives
the company a guarantee of a ready market when it develops and manufactures new products or
provides new services to its customers.
Why it is an opportunity
A wide market niche for new services and products will not only maintain the numbers of
the existing customers but it will also attract new customers thus increasing the company’s
customer base and hence increase the sales volumes.
Threats
Even though Able Corporation has numerous opportunities it is also faced with several
threats which includes;
Stiff internal competition
The key competitors in the PEPT industry in the United States include Able Corporation,
Makatume and Smith and White (SSW) Corporation. SSW has already carried out a combination
of its strategies in all of its lines of production which means that the production process of a
product takes a shorter time than before.
Why it is a threat
Makatume and Smith and White Corporation are a threat to Able Corporation because
they produce almost similar products and they share the same market segments. Hence, they pose
a great danger of shift of customers to their products in case of Able Corporation’s failure to
satisfy its loyal customers.
High innovation levels among the competitors
Makatume’s cordless tools are ranked the best in the cordless segment of the market. This
is due to intensive investment in creativity and innovations which threaten to overtake Able’s
cordless market segment because Makatume’s cordless tools are regarded by customers to be of
higher quality.
Why it is a threat
This is a threat because it means that Able Corporation will continue to register slow
growth in its cordless market segment which is largely commanded by Makatume Corporation.
Low priced SSW products
Due to its large production size, SSW enjoys economies of scale which reduces their
production costs. As a result, their product prices are relatively low as compared to those of Able
Corporation. Currently, SSW takes prides in numerous customers due to the affordability of its
products.
Why it is a threat
Economically, the lower the prices of a product the higher the demand in contrast the
higher the price of the product the lower the demand. Able Corporation will eventually lose its
customers due to the high prices attached to its products as compared to those of key competitors
such as S$W which will reduce its sales volumes and cripple its production capacity.
Threat of losing its staff
As mentioned above, constant management wrangles in the company’s management
level de-motivates the junior staffs who rely on the management for direction. Thus,
disagreements will eventually lead to movements of the staff to other competitors.
Why it is a threat
As a threat, the movement of the company’s staff to other competitors will not only result
into low innovation levels in the company, but it will also result into significant loses to the
company in terms of the resources used in training the moving staff.
Strict regulations from the government
The government has issued new directions aimed at improving the quality of products
manufactured in different industries in the United States in order to increase the competitiveness
of the country’s products in the global market. To incorporate the new changes, the company
will have to do away with some of its production processes and develop new methods which
entail significant investments. As a matter of fact, the old dilapidated manufacturing plants are
required to be substituted with well constructed manufacturing plants in order to ensure the
safety of the workers as well as increase the quality of the products exported into the external
markets.
Why it is a threat
The new regulations require massive investments and failure to comply with the new
government regulations may result into closure of certain facilities regarded as unsafe for the
workers. Closure of obsolete facilities will reduce the production process and hence reduce the
sales volumes.
Stiff external competition
In the recent past, the PEPT industry has been infiltrated by numerous external
companies from China and India. With cheap products, the new entrants will considerable reduce
the market commanded by the three key players S$W, Able and Makatume Corporations.
Why it is a threat
External companies entering the industry in the United States will obviously lead to
numerous shifts in consumer demand due to variation in prices offered by different companies to
woo customers to their products. Reduced customers will also mean reduced sales volumes and
thus reduction in realized profits.
Prolonged duration of the current economic recession
The current economic meltdown has considerably slowed down economic activities in
different sectors of the economy. Although, economic experts have projected an end that it will
end sooner than anticipated, if the opposite occurs, then Able Corporation will continue to
register slowed production processes due reduction in demand for its products.
Why it is a threat
Prolonged economic recession will continue affecting the company’s sales volumes and
thus reduce the company’s profitability. This might result into winding up of the company’s
operations due to inability to service its recurrent expenditures such as wages and salaries.
SWOT analysis of the proposed environment
The management of Able Corporation proposes that the company should break into the
global market environment. In regard to this proposition, there are several strengths, weaknesses,
opportunities and threats associated with the new proposition.
Increase in customer base
In addition to the domestic customers, Able Corporation will add numerous customers to
its customer database by going global with its products. This is a major strength because it will
considerably increase the company’s sales volume and therefore increase the company’s
revenues. This will in turn expand the company’s production capacity and eliminate uncertainties
in the domestic market (Fleisher and Babette, 2003).
Weakness
Breaking into the global market means that Able Corporation should satisfy the domestic
market and sell the surplus into external markets. However, the domestic market, though
populated by stiff competitors is still under-exploited. This is a major weakness because by
concentrating its efforts in the global market, the company will end up losing numerous
prospective customers in the domestic market thus weakening and reducing its production in the
domestic market thus availing an opportunity for the key competitors to chip away a significant
section of its domestic customers.
Opportunities
A myriad of opportunities exists if Able Corporation breaks into the global market.
However, the most important is the fact that cordless technology is a new phenomenon in the
global marketplace which puts the company at a competitive advantage as compared to many
other companies in the globally. It is an opportunity because with cordless products the company
will differentiate its products from those of the competitors and thus increase its sales volumes in
the global marketplace.
Threats
The major threat for Able’s products is the growing strength of cheap and differentiated
products from major players in the global market such as China, South Korea (to mention a few).
PRELIMINARY OUTLINE BUSINESS PLAN
I. Executive Summary
Able Corporation is looking forward to entering the global market. Therefore this
executive summary will define the important points that will be delivered to the
Strategic Officers Steering Committee (SOS-C). The three main points that should be
discussed in the executive summary:
(1) Is the company financially positioned to join a greater market environment from a
global standpoint?
(2) Is there a global market that aligns with the current product structure of the Able
Corporation and can that market be leveraged profitably by the Able
Corporation?
(3) Are there significant risks involved that could jeopardize Able
Corporation’s current standing and leave Able Corporation exposed?
The goal of the steering committee was to gather the information that answers these
concerns while providing the data necessary to make a qualified decision as to move forward
with this plan.
II. Global Market Entry
The focus of this business plan is to enter a global market in a fashion that will allow for the
continued growth of the Able Corporation. Obviously, the corporation has entered markets prior
to this, but it has never conducted an endeavor of this type on this scale. In order to accomplish
this activity, the steering committee recommends that the corporation follow the same steps that
were followed during the previous three market entry activities conducted by Able. The major
events surrounding those activities were:
• Market Research
• Competitor Analysis
• Marketing Preparation and Penetration Analysis
• Entry Preparation (Entry Planning and Market Development)
• Market Entry Launch
These actions will be modified in accordance with the requirements of an international event
(Isenberg, 2005)
III. Marketing Strategy
The planned strategic approach is as stated above, one of market development. In this effort
Able will begin by introducing its current product inventory into international markets where
product representation is marginal or non-existent (David, 2007). Preference will be given to
those geographical areas where competitive products have limited market share.
IV. Management Plan
The management plan will be of the same structure that currently exists within the parent
corporation. Initially, management of this activity will be conducted by subordinate members of
existing departments and then gradually migrated to a newly and planned establishment of an
international product division.
V. Financial Considerations
Financial considerations will focus on securing an international financier capable of supporting
both the national and international components of the market entry event. This support must
cover all facets of business operation in the foreign environments selected for entry. This means
that the selected financial entity must work in concert with the market deployment team. These
requirements and others related to funding must be included in the request for proposals from all
financial solicitors.
RUDIMENTARY MISSION STATEMENT
David (2007, 11) text suggests a company is defined by what their business represents
and how it relates to consumers. Able’s responsibility is to the consumers locally and globally to
value their choices and desire for quality products. Able’s principle products are power tools,
lawn mowers, lawn furniture, microwaves and ranges. Able’s goal is to manufacture quality and
sustainable products that reach beyond the consumer’s needs. Able’s Corporation is not only
dedicated to the consumers but also dedicated to expanding the brand of Able’s products globally
to create a prominent platform for healthy competition and success. In order to meet the demand
of the current products and new products, Able Corporation is determined to use new and
innovative technology to enhance productivity and efficiency. In this regard, the company will
improve profitability and growth through its ability to maintain and promote its overall vision to
satisfy consumers, their employees and all other parties directly connected to the journey. The
Jones (2010, 2) article suggests that the company should communicate vision excitingly and
forthcoming to lead anyone into the future by painting the picture and depicting the behavior of
the vision and its future. Able sets out to encourage, promote and instill ability and strength in
dedicated personnel with potential growth, employment security, attractive compensation and
benefits and a sense of unity and promise to maintain and promote healthy and demonstrated
contribution towards the corporation and the consumer. By working in strength of Summers
(1984, 2) principle to define what are we trying to do in order to reach the ultimate mission, Able
corporation is committed and more importantly, obligated to encourage healthy competition
globally while considering and adhering to the consumers economic stance by compromising the
success of the corporation for the opportunity to place the consumer’s needs and desires first.
KEY OPERATING PRINCIPLES
Able’s responsibility is to the consumers locally and globally to value their choices and desire
for quality products. Able’s Corporation’s key operating principles are as follows:
Customer Satisfaction
Innovation
Social Responsibility
Effective Global Presence
Cost Efficient Operations
Intensive Growth Strategy
Contingent Market Focus
Safety and Performance
Customer Satisfaction
Able Corporation should emulate superior customer service and guaranteed customer
satisfaction. Able should make sure that the customer’s needs and desires are always
considered and complimentary to the structure and design of the products to ensure a place in
the local and soon global market.
Innovation
Able Corporation should commit to providing proven and viable innovation to the design
of all products to assure presence, dependability and value to the corporation and its promise
to provide quality and sustainable garden and lawn products.
Social Responsibility
Able Corporation can commit to working diligently to improve and motivate a better
quality of society and living. According to David (2007, 21) text, managements attitude
towards risks, organized culture and the change in social responsibility will affect decisions
formed by strategy, ultimately employees receptiveness to change solely depends on
motivation and willingness from top management. Able should support the current economic
state by providing quality products at the lowest price and always promote and encourage
social involvement with an emphasis on employees and their commitment to the brand and
consumers.
Effective Global Presence
Able Corporation must be determined to extend motivation and strategic techniques to
management to generate healthy teamwork. Able can instill strength to management to be
enthusiastic about creating a prominent business environment and submitting inventive ideas
to potential partners to heighten global presence and overall protection of the brand and new
opportunities.
Cost Efficient Operations
Able Corporation must strive to find cost effective ways to manufacture, enhance and
create products in a way that sustains the environment and pleases consumers and promotes
social responsibility. By using sustainable materials that are harmless to the environment and
require less manufacturing and processing is the main goal for Able.
Intensive Growth Strategy
By defining concise data, Able Corporation can commit to applying strong growth
strategies by organizing important and pertinent opportunities and associated risks while
considering global impact and the depth of the opportunity and risk for the corporation.
Contingent Market Focus
Able Corporation’s focus should be on current market penetration and what it means for
the corporation and also the future impact on the consumers. Able’s market focus is
contingent on global opportunity and the current competitive edge. Focusing heavily on the
global market will allow Able Corporation to place more energy into growing partnerships
which will provide the framework for the vision set forth by Able Corporation in the
beginning.
Safety and Performance Measures
Able Corporation should be committed to promoting and practicing safety measures and
efficient performance to maintain reputation of the corporation and the products. Superior
training should be provided to ensure measures are being taken to support the nature of all
products.
PRELIMINARY MARKET ANALYSIS
Target Market
The target market in this case is a global market to continue producing quality products
while increasing the size of the current market. This will allow the company to boost the amount,
which allows us a bigger revenue and advantage for the company. Another advantage would be
to reduce overheads within development, research, and operating costs. This is a form of
segmentation of global markets to recognize the international market and the customer’s needs
for satisfaction. This also may increase the life cycle of products in the maturity stage. Lastly
with the expansion in the global market will allow us to optimize the physical location for all
activity in its value chain.
Current Products to Market & Companies Servicing Market
Are we going to market our entire product line of power tools, lawn mowers, lawn
furniture, microwaves, and ranges? We will have to look at how competitors are servicing the
market and if they are successful in doing so. We will also need to see how the current market
share is from competitors. This will help us determine if they market is saturated or has room for
more competition.
Market Strategies to Reach Market
There are 2 opposing pressures when moving into the global market which consist of
reducing costs and adaptation. There are four strategies that can be pursued to reach the market:
International, Global, Transnational, and Multi-Domestic.
International is based on distribution and adjustment of the parent companies
understanding and proficiency to markets that are foreign. This strategy would be most
suitable if we have distinct competencies that local companies in foreign markets lack.
The risks involved in this strategy include the access that is limited to adjust in confined
markets and the inability to take lead in making new innovative ideas and innovations
taking place in confined markets.
Global emphasis on the economies of scale due to the standardized products and services,
and the centralization of operation in a few locations. This strategy would be most
suitable at the strong/ tough when pressures for dropping costs and moderately the fragile
pressures for adjustment to local markets. The risks involved in this strategy included
limited ability to adapt to local markets just as the international strategy. Concentrations
of activities may increase dependency on 1 particular facility location. Single locations
could possibly lead to higher tariffs and transportation costs.
Transnational goal is to optimize the trade-offs associated with efficiency, local
adaptation, and learning. This strategy would be most suitable for integration of unique
contribution of all units into one worldwide operation. The risks involved in this strategy
include distinctive challenges while trying to determine the best possible locations of
activities to ensure quality as well as cost.
Multi-domestic is based on local needs, values and demands. This strategy would be most
suitable to differentiate the product offerings to adapt to local markets. This risks
involved in this strategy includes to decrease, which is the ability to realize cost savings
through the scale of economies. It is known that there is greater difficulty in transferring
knowledge across different countries. Possibly lead to “over-adaptation” as conditions
change.
1/5/10 YEAR STRATEGIC OBJECTIVES AND STRATEGIES
Business organizations are established with the aim of striving and advancing so as to
gain market domination, increase sales and profits. However, the attainment of these objectives
is never simple for any business organization. The business organization and especially its
management ought to come up with necessary strategic objectives so as to facilitate the
achievement of the set objectives within a given timeframe.
The strategic objectives to be set by the Able Corporation will be meant to sustain and
improve the organization strength, enhance its competitiveness and thus give it long term market
position in the service of the customers through the supply of commodities of high quality to the
market when the customers are in need of them (Thompson & Strictland 1987).
The strategic objectives established by a business organization may be short term, middle term,
long term or depending on the period of time that it will take to accomplish the objectives stated
by the company. It ought to be known that the strategic objectives set by any business
organization should be achievable, measurable and executable within the time limit set by the
project managers in the company.
The objectives to be established will be aimed at reducing the overall costs and increasing
the revenue which will then later on be used by the industry in the venturing into the global
market to supply the products. The company may also wish to build a good public image or
reputation with regard to the customers through offering of the high quality products so as to
enhance the sustainability of the competitive advantage in the market as far as the distribution of
its products in relation to the similar products produced by the other company. This gain of the
competitive advantage by the company will ensure that the company is getting more profits
through the increased sales and therefore may act as a spring board in the expansion of the
business so as to break into the global market (Forrester 2005).
STRATEGIC OBJECTIVE ONE YEAR
The three most important objectives to be attained or accomplished within the first year or at the
end of year one are as follows:
1. to expand the sales to the existing customers
2. enhance superior service delivery to the consumers
3. introduce the existing product into a new market
Expansion of sales to the existing customers
This is a short term objective but it will have a long term effect on the organization and
will therefore eventually influence the attainment of the objectives of the company in breaking
into the global market to supply and sell its products to its consumers with an aim of increasing
the profits obtained from the sale of their products. This strategic objective or intent is to enable
the company to increase its sales and therefore out do its close competitors who may be offering
similar products.
This objective will play a very pivotal role in the facilitation of the achievement of the
objectives set by the company, which are of course to increase the sales and therefore join a
global market in the supply of their goods. The internal organizational activities of the company
like research and development of the product, marketing strategies and the efficiency in the
offering or deliver of the services to the targeted market will enhance the functionality of this
strategic objective and its accomplishment. This objective will ensure that the market control of
the company or the business organization is enlarged and therefore the power of market
domination will be acquire by the company and thus act as a spring board in the facilitation of
the entry of the company into the global market (Lafer 2004).
The expansion of the sales to the existing customers or consumers of the commodities
supplied by the company will be done in a bid to increase the sales and finally the profit margins
derived from its sales. From this functional assertion of the strategic objective of the company
meant to expand the sales to the existing customers, it therefore dawns on the company to make
necessary operational and strategic business activities; the interrelation between the activities
have therefore to be restructured so as to enhance the understanding of how the objective can be
made known to all the employees in the organization so that by the end of the year it can be
accomplished.
This strategic objective is possible to be accomplished because the main spring board to
its attainment are customers whom the organization has already built a good rapport with them
and therefore by the end of the first year
Enhancing superior service delivery to the customers
Efficient service delivery to the customers will enhance customer loyalty to the branded
products of the company and therefore this strategic objective is very fundamental in the
execution or attainment of the set goals of the organization; to increase sales, attain maximum
profits and eventually break into the global market. This may not be easy to implement but it is
necessary as it will enable the company to gather the perceptions of the customers while
supplying goods to them so they can come up with necessary skills or methods to implement so
as to have control over a widened market and thus increase the sales and eventually the increase
in the sales or profits to make the company sail into the field of global marketing (Forrester
2005).
This strategic objective is vital as it will enable the company make comparisons on the
marketing strategies previously used and the new implanted strategies and therefore make sound
decisions on what strategic operational activity as far as superior delivery of services to the
consumers is concerned and the eventual effect on the products or profits derived from the sales.
The implementation and achievement of this strategic objective will be easy to attain because of
the few complications and financial neediness required for this objective. It can therefore be
easily accomplished within one year and therefore lead to the development of the company and
then make it join the efficient delivery of the services to customers globally.
Introduction of the existing product into a new market
Similarly, like the strategic objectives discussed above, it is very imperative for the
organization to begin introducing their products into the new markets as an introductory part of
their entry into the global market by the end of their desired and specified period of time. This
objective can be attained through the expansion of the industry by setting up other plants of the
company in other countries. It can also be done by the use of the diversifications in the modes of
selling their products for instance through the installation of online purchasing program for the
company and this in essence will enable the company to reach or be accesses by many customers
who may have the potential o purchasing the company’s products. This strategic objective has no
complexities in its implementation as the company will have to put in use some of the profits
gained from the sale of its products to advertise to the new targeted markets and therefore lead to
the promotion of the products and the company which will in turn lead to the development in the
profit realization as the market would be expanded and thus will facilitate the achievement of the
set objectives by the company.
Year 1 Strategy
The following strategy is set to address the key factors that will influence the attainment
or the implementation of the strategic objective of expanding the sale of the product to the
existing customers. It highlights the implementation and accomplishment of the set objectives,
the ramifications, pros and cons basing on the SWOT business analysis (Hayes 2005).
Implementation: For the company to accomplish its objectives, the company will have to alter
the organizational activities like the operational methods and conduct research on how effective
they can present their products and also handle their customers so that the sales for the products
can be increased. The company will have to increase the quality of their products and then
develop a suitable mode of advertisement basing on the research conducted so that its effect on
the customers can easily be felt through the increased sales. This will therefore lead to the
increase in the profits and thus facilitate the achievement of the set strategic objectives for the
first year.
Ramifications: In spite of the need to increase the sales by the organization to the customers,
there are various pros and cons that the company will have to encounter. The process of
conducting research is good and vital as it will give information to the company on what to do so
as to improve the sales to the customers. However the research may also have limitation or
drawbacks to the company as the effect on the consumers may be negligible and therefore make
the company to incur losses from the expenses incurred in the conducting of the research.
The increase in the quality of the products may be expensive and also there is a possibility of the
competitors also entering the market thus reducing the expected profit margins tremendously.
Though the quality improvement and advertisements may act as a promotion activity and thus
lead to the increase in the number of the customers, the expenses may be higher and therefore
become a disadvantage to the company as there will be few customers and therefore the
objectives for year one may not be accomplished.
Evaluation: the company’s ability to attain its set objectives may also be influenced by the
strengths, weaknesses, opportunities and threats that the company has (Horton’s 2000).
Strengths: the company has a strong organizational management basis and therefore this will act
as a fundamental aspect in the achievement of the set objectives of the Able Corporation. The
business organization has the ability to diversify the range of the products and therefore improve
the quality of the products. The existing good rapport between the organization and the
customers will also facilitate the easy accomplishment of the strategic objectives of the company.
Weaknesses: the company has weaknesses like the lack of the awareness on the prospective
customers and their perception about the Able Corporation’s products that are to be sold to them.
This has an implication that the company has to conduct research on the customer’s point of
view about the company and then assess their perception so that appropriate decision can be
taken to facilitate the accomplishment of the company’s mission. This may be expensive to the
organization and therefore may act as a weakness to the company. The emergence of the new
technology may also act as a deterrent to the achievement of the set goals as it may move the
targeted market in another business direction leading to stiff competition from the competitors
thus reducing the profits and chances of entering in the global market.
Opportunities: the organization has chances of growth as there are advancements in technology
that will facilitate the achievement of the Able Corporation’s set objectives. The company has
extensive interventions on the world market as there are many customers in overseas states that
will facilitate the achievement of the company’s set objectives. The company has diversified the
products for sale and is therefore able to increase its sales and profits so as to enhance the
achievement of the set objectives.
Threats: the company is exposed to the risks of the products getting obsolete as the development
in technology results in the production of new products. The company will therefore have to
change to adapt to the technological advancements made in the industry and this may be
expensive as the company will spend more funds thus may incur losses and thus reduce the
chances of attaining the company’s strategic objectives.
STRATEGIC OBJECTIVE FIVE YEAR
The company’s three main objectives to be attained by the end of five years include:
1. To further expand the company
2. To introduce new products into the market
3. To implement new procedures or operational tasks
To further expand the company
This is a long term objective and it will play quiet a significant role in eventually
attaining the overall objective of the company which is to venture in to the global market and
increase the overall profits of the company. This strategic objective is aimed at enabling the
company to systematically find its way into the global market through a number of ways as well
as ensure that consumers all over the world have access to the products and services offered by
the company within five years.
The company has been in operation for a substantial period of time and therefore it has
established a concrete market base in the United States and over the years has demonstrate
tremendous potential for a further expansion into the rest of the world. The strategy is achievable
within the stipulated time frame since as part of the company’s crucial activities, it has kept up-
to-date trends in the market and is working on a way to emerge top among its competitors
(Quinn, E, Faerman, Thompson, McGrath 2003).
To introduce new products into the market
This is a very crucial objective since it is going to enable the company beat its
competitors in the global market. With a thorough market research the company will be able to
identify what is already in the market and in the process establish what customers in various
regions need as well as the gap that is present in the market as far as these needs are concerned.
Introducing a new product into the market is one of the most difficult processes for any
company. It requires an accurate view of the market places being served as well as the position
of the company in those market places. The company will be able to achieve this objective since
it has working toward developing their manufacturing capabilities and through the leadership if
solid team, they have been instigating commitment to continuous change throughout the
company. The company has also been maintaining this course during its management of day-to-
day tasks. The company has also selected a multi functional team to this project and it will
definitely pay back in the long term.
To implement new procedures or operational tasks
This is an objective that will help the company reorganize or restructure their day-to-day
operations with the aim of heightening efficiency and ultimately improve the services offered by
the company to their .clients in the initially selected regions during company expansion and
ultimately in the global market. With the current advancements in technology it is important to
constantly review the procedures and operational tasks of a company so as to be able to compete
with companies that offer similar products in the market (Hayes2005). This is especially crucial
for any company that aims to penetrate the global market. This objective will be achieved with
the stipulated period of five years since the company has been developing a procedure manual
for the company’s new operational tasks. As much this has been an overwhelming process the
team selected to carrying out this task has stayed up to speed as far as coming up with ways to
improve company efficiency is concerned. Some of the ways the SO will be achieved is by
reengineering telephone operations to improve customer service, restructuring the sales and
marketing activities in order to increase consumer awareness on the all the products and services
offered by the company as well as improve consumer accessibility to these products and
services. Another way is by incorporating the latest technological advancements with the
extension of multi-task operations which increases the potential to elevate sales and marketing
activities of the company (Forrester 2005).
Year 5 Strategy
The company strategy in five is a further company expansion which will be made by
constantly reviewing year one strategy objective of expanding the sale of the product to the
existing customers. This will be made possible highlight how this objective will be implemented,
its ramifications and how it will be evaluated to ensure achievement of the organizational goals
following the SWOT business analysis.
Implementation: If the company is going to be able to meet its five year objective of expanding
into the selected regions which is an initial step to invading to the global market, then it will have
to analyze the company’s current position in those selected areas as well as its environs. It is
important to execute the analysis at an internal and external level in order to identify all the
opportunities as well as threats that exist in the external environment. It is also important that
during the analysis they highlight the strengths and the weaknesses of the company. When
analyzing the external environment the company should focus on the consumer. The company
will work towards developing consumer strategy paying attention to market shifts, the impact it
has on these consumer sets and ensure that these sets are the ones the company intends to serve.
Ramifications: With the company working towards expanding within a period of five years by
increasing their sale in several more regions, it is needless to say that this strategy will come with
various advantages as well various challenges before it finally stabilizes. One of the pros of this
strategy is that starting the company in several other regions will increase the sales of the
company and therefore increase the profit margin of the company. This will also be
advantageous to the communities that live in the regions where the company will expand since it
will create employment for them. The company will also have market diversification when they
eventually introduce the new products into the market following the opportunities identified by
the company in the market. The company will benefit from an increase in sales since expansion
of the company will increase accessibility of customers to company product and services. On the
other hand there will be challenges resulting from this strategy. Some of these cons include an
increase in expenses during the setting up and establishment of the company’s branches in the
new regions, recruiting of new employees and several other expenses involved in expanding a
company. It is also not definite that the potential consumers in the new region will accept the
company products and services and therefore there is no guaranteed increase of sales in the
company’s new market regions. This may be to the disadvantage of the company (Forrester
2005).
Evaluation: Able Corporation will evaluate the five year strategic objective of expanding the
company within five years by looking at various parameters. First the company has to
consistently evaluate the budget for expansion so as to ensure that there are no setbacks in terms
of finances during the introduction of new products as well as during setting up of company
branches in the selected region.
Able Corporation will also from time to time assess the market identifying the market
opportunities that arise during its expansion in order to be able to make the most of these
opportunities in all the region where the company will be based and ultimately increase the
company sales.
The company will constantly do a market research in order to establish what its competitors that
offer the same products are doing in the market. This will help Able Corporation come up with
new ideas of reaching its customers better than its competitors and ultimately establish a good
consumer base in all the market regions it is found. Able Corporation will also adopt the latest
technological advancements in the market which will so as to enhance following up all the
company operations, including tracking company profits and losses and facilitate efficient
networking and coordination among employees and braches of the company.
STRATEGIC OBJECTIVE TEN YEAR
The strategic objectives of the Able Corporation for the tenth year will be as follows:
1. To enter into the global market
2. Diversify the range of the products offered by the Able Corporation
3. To be the leading supplier of products in its line of operation.
Entry into the global market
The Able Corporation will have the capability of entering into the global market because
of the increased number of the employees who will be used in the increased production of the
products and therefore may lead to the increased sales and therefore increase the profit margins
of an organization. This will aid in the development of technology and therefore provide goods
to a large number of the consumers and therefore lead to the increase in the development of the
company to enter into global market. The implementation of this objective will be possible as
throughout the operation of the company for ten years the company will be able to pay the
employees and therefore lead to the development of the market and thus gain market dominance
on the globe. This strategy will enable the corporation to compete successfully in foreign
markets; the company should therefore identify appropriate strategy focusing on lowered
production and other related costs (Robert 2003).
Diversification of the range of the products
The diversification of the range of the products offered by the company will widen the
market for the company. This widened market will act as a spring board in the achievement of
the set objectives of Able Corporation. This will arise due to the long period of operation and
therefore may lead to adaptation to changes in technology and therefore provide chances for the
modifications of its products and therefore lead to the expansion of the market as it will capture a
larger market. The eventual result will be the increases in the sales and the number of customers
who will be served. This will lead to the increased demand of the products and therefore act as a
push factor for the company in the entry into the global market.
The accomplishment of this strategic objective is vital and will be easily met because of
the updated market tends that the company is involved in. This thus has an implication that the
company has ability to diversify the products and therefore increase the sales of the company and
therefore make it enter into the global market.
To be the leading supplier of the products world wide
The company has to lead the supply of the products worldwide; this will be of functional
importance to the company due to the increase in the diversity of the products supplied for the
consumption of the products. The achievement of this objective is in concord with the increased
technological advancements and thus the increased products to be supplied into the market, this
will definitely lead to the domination of their company in the supply of the company into the
market. This will facilitate the expansion of the business of the Able Corporation and therefore
capture the targeted customers (De Jonas, Dowd and Schneider 2007).
This strategic objective of making the corporation to be the leading supplier is vital as it
will enable the company make comparisons on the marketing strategies previously used and the
new implemented strategies and therefore make sound decisions on what strategic operational
activity as far as superior delivery of services to the consumers is concerned and the eventual
effect on the products or profits derived from the sales. The implementation and achievement of
this strategic objective will be easy to attain because of the few complications and financial
neediness required for this objective. It can therefore be easily accomplished within the ten years
and therefore lead to the development of the company and then make it join the efficient delivery
of the services to customers globally.
Year 10 Strategy
This strategy is established to enhance the achievement of the set objectives by the
company. It analyzes the pros, cons, the analysis of the SWOT system of the company and the
evaluation process of the company’s proceedings in the achievement of the set objectives of
entering into the global market.
Implementation: The Able Company has to invest handsomely in this long term strategic
objective so as to enhance the struggle towards the attainment of the set objectives of the
company meant to increase the sales and thus the eventual increase the profits derived from the
sale of their commodities. The company will have to incorporate the services of product
promotion and efficiency in the customer service by reengineering the customer care services in
the organization which will in turn act as a spring board in the push towards the entry into the
global market.
Ramifications: the company will have to encounter some drawbacks in the implementation of
the process of their fight to attain global dominant of the market in the products that they sell.
This is because of the fact the economy is open and therefore the competitors will always intrude
into the market and therefore may act as hindrance to the organization in the achievement of the
set goals. There are also associated advantages involved with the implementation of the strategic
objectives of the company. The company will have to conduct extensive research, product
promotion through advertising, this advantages to the company as it will increase the level of the
sales made by the company and therefore expand the company which will in turn help in the
propelling the company to gain the domination of the market by the company and therefore lead
to increased demand from the customers. This in essence implies that the Able Corporation will
be aided in the achievement of its set objectives thus make it dominate the global market. The
disadvantage of this research conducted and the advertisement costs incurred by the company
may also deter the company if the response of the customers to their adverts is immeasurable and
thus poses as a drawback or limitation to the company: hinder the company to enter into the
global market.
Evaluation: the strengths, weaknesses, opportunities and the threats that the Able Corporation
may be exposed to with regard to the need to develop chances for the involvement of the
company in the global market are more or less the same as those experienced during the short
term and middle term strategic objectives. The strengths that the company has are definite: It has
the finance to undertake extensive product promotion, advertising and consumer service delivery
so that the company can enter into the global business.
The company has also a set of weaknesses that it is exposed to and therefore limits the
ability of the company to effectively enter into the market. The knowledge of the company about
the consumers is limited and therefore the perceptions of the company in the relation to the
consumers will limit the company’s ability to enter into the global market.
The opportunities of the company are also diverse, and this will enable the company to
surge forward into the global market. For instance the company has chances of adapting to the
new technological advances. The adoption of the new technologies will enable the company have
increased demand for its products, leading to the increased chances of entering into the global
market.
The threats that the company is exposed to is the products becoming obsolete as the
development in technology results in the production of new products. The company will
therefore have to change to adapt to the technological advancements made in the industry and
this may be expensive as the company will spend more funds thus may incur losses and thus
reduce the chances of attaining the company’s strategic objectives. The company will thus have
to experience problems in the entry into the global market (Jeston & Nelis 2006).
ADDITIONAL MATERIAL
There are several advantages for Able Corporation deciding to expand globally.
According to David (2007, 29) text advantages to going global include:
reduced unit costs,
decreased economic risks,
low costs of production, raw materials and labor
Decreased taxes, tariffs and capacity.
Expanding globally can allow Able to partner with like corporations to:
Enhance Technology
Change or revise business practices
Promote Culture
Meet prospective new vendors, partners, creditors etc.
Going Global will also allow them to receive rewards such as:
Incentives to promote investments that are foreign
Little to no competition
Wider number of markets
Additionally, this area of concern is very significant to Able Corporation going global related
to the resources of suppliers that are located in close proximity to the selected market
environments. This includes most considerably supply and delivery channels. Without dedicated
and successful performance in this area can hinder the company from going global or cause risks
in this area. Also, sales forecasting is another important tool in the business supports and
manages (“Business Link”, 2008). Sales forecasting will allow Able Corporation is perform
monthly, annual, and bi-annually analysis of the markets so that the needs would be identified
before time. As for the future forecasting, the financial factors on businesses that holds a
negative contact within sales (“Business Link”, 2008). For instance, if there were a increase in
gas or electricity rates the customers have less to spend on other items such as Able’s power
tools. The need for the power tools are also reduced in sales because of the housing market. The
housing market is down as the country is facing a recession, needing less power tools and
equipment to work on the lawn.
CONCLUSION AND RECOMMENDATIONS
We have found that this entire group project possessed a small challenge because of lack
of sufficient background information for Able Corporation. There was not nearly enough
information for us to analyze past company history, the companies values and even the ideas and
processes that contributed to the company’s current success. We found it rather difficult to
provide additional material as we only had the small piece of information provided to us to work
with. It would have been helpful for the mission statement to have the company’s vision prior to
the assignment. It would have helped with the market analysis if we knew little to definite
current market penetration and what the corporation should focus on. Overall we feel that the
entire assignment possessed depth in instruction and guidance and we recommend more
sufficient company background information.
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