Toolcorp Executive Summary

1657 Words4 Pages

ToolsCorp is not exempt from the need of profit. Financial objectives should be outlined and include increasing income, profit increases, maximizing of investment utilization, and decreasing costs (Dodangh, Mojahed, and Nasehifar, 2010). However, their financial plan goes beyond that of just numbers. It seeks to compensate its employees and investors to allow them to live life. Through continuous quality improvement, the company seeks to reach Six Sigma standards to reach for zero defects and waste, which will pass savings onto the customer. It will also provide a quality product that will create loyalty through repeat sales (Ridley, 2014). Full Mission statement Providing product lines to Northern American and Canada, by providing manufacturing …show more content…

The image ToolsCorp has with its sustainable clients and retailers is one of quality. Product are branded by ToolsCorp and sold to retailers to sell to the customers they know the brands quality and product life. Broadening the reach of ToolsCorp into the Asian markets over the next five years. Finically ToolsCorp would like to gain profits and increase sales over the next five years increasing ten to fifteen percent a year. Hiring new experienced employees and keeping qualified teams as well as making sure the culture and values of ToolsCorp stands strong and can adapt into new environments with ease. Customers with basic needs to extending the quality of their own surroundings will be able to benefit from ToolsCorps products. From young to old, middle class to small businesses everything a customer needs to add value to life. ToolsCorp maintains a company image that is strong and sustainable from large retailers to small businesses everyone is able to identify with the commonality. Standing by ToolsCorps employees shows great character and communicates the value of the …show more content…

Venture into the Internet market and look into other possible countries for development. Taking into account boundary spanning it will ensure that ToolsCorp has the ability to access resources and capabilities to keep competitive edge in any market. The network of relationships will have grown due to product availability in other markets by 15%. Innovation capabilities will be leading the way with engineers coming up with new products to be sold. Considering boundary spanning will ensure that ToolsCorp has the ability to access resources and capabilities to keep a competitive edge in any market. The size and buying power will have increased by 40% along with customer base and products (Hill and Jones, 2013). The product reputation will have spread allowing more large retailers to carry ToolsCorps products. The cost of entering a global market will be reduced because of the partnership, but ToolsCorp will do its best to hedge their global investments to protect against conversion

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