Able Corporation Global Strategy
Able Corporation is a US based Company that builds various tools and gadgets such as lawn mowers, lawn furniture, microwaves and ranges. The company is located in Tennessee and already operates successfully within the US and Canadian markets. The company is trying to break into the global market.
An important part of developing and implementing a global strategy is to develop a mission statement and Able needs to define its identity. The way to indentify a company’s identity is to conduct a situational analysis. This step is used to identify what hinders the company’s business plans as well as its key success factors. There are a few difference analytical tools that can be used to accomplish this mission. The most common is the SWOT analysis. The SWOT analysis takes the threats, opportunities, weaknesses, and strengths of the companyinto consideration. Another tool commonly used is the PEST analysis. The PEST analysis is used in strategic implementation and planning and evaluates the company’s economic, technological, socio-cultural, and political factors. PEST is mainly used when analyzing the macro environment of the company. The information gathered for the analysis can be gathered from financial reports, company records, employee performance files, and sales reports. This step is important in that is defines the strategic goals based on the identity developed by the company and minimizes the failure and losses caused by ineffective strategies.
The different resources that are available to Able will be identified based on the developed identity of the company. In order for the company to make the most of its strengths these resources should be taken into consideration. For example, Able has contracts with large retailers that distribute its products. How will Able distribute its products abroad? Will they contact foreign retailers to act as...