Write a neat and organized report for the Strategic Officers Steering Committee (SOS-C) of ToolsCorp Corporation
QUESTION:
1. An outline of the business plan to be developed for ToolsCorp’s strategic initiative
2. A full mission statement containing the nine components and presented in a well written paragraph
3.5 pages MINIMIM
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located in Tennessee. As members of the senior management team of ToolsCorp Corporation, your group has been asked to prepare a neat and organized report for the Strategic Officers Steering Committee (SOS-C) of ToolsCorp 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 ToolsCorp’s strategic initiative to break into the global marketplace.
Background Information
ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is 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 that place sales papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the United States and Canada, ToolsCorp is trying to break into the global marketplace.
The portion of the project will need to be a minimum of 3.5 pages with at least must one reference per page submitted and references will need to be in APA format. (In red are the contents that need to be researched and completed.)
· An outline of the business plan to be developed for ToolsCorp’s strategic initiative
Descriptions with the outline in necessary. A simple outline will not provide much detail which is an indication to me the more detailed the better. The purpose of the project is to illustrate one understand the concepts and can apply them, as well as work together in a team environment. Providing detail ensures one show understanding of the concepts and our ability to apply the concepts to a scenario.
· A full mission statement containing the nine components and presented in a well written paragraph (Below is information to help complete this section, please incorperate this information)
9 Characteristics of an Effective Mission Statement
Mission statements are not one-size-fits-all, although there are some guidelines that can help you craft one that effectively captures the purpose and goal of your business. The general rule for these statements is that you can’t confuse your audience, because that defeats the purpose of trying to communicate the reasons your business exists. However, there are nine characteristics common in effective mission statements that can provide you with the parameters under which you can craft a statement that not only sells the “what” of your company but also the “why.”
They Are Short
The U.S. Navy adopted an adage in the early 1960s that said, “Keep it simple, stupid,” also known by the acronym KISS. The idea behind that adage is that systems work better when designers keep things simple, and the same applies to your mission statement. Shorter is better because you want to convey the purpose and goal of your business in a way that is simple, clear, and easy to understand. The more words you use, the more likely it is that you’ll send out a garbled message to your audience.
They Are Unique to Your Business
Mission statements should never be generalized in such a way that any other company could steal what you wrote and use it as their own. When crafting these statements it’s vital to remember what makes your company different, unique, and special.
They Create Expectations
A good mission statement embraces the expectations of a target audience for something they truly crave. For example, Zappos’ mission statement is “To provide the best customer service possible.” That creates the expectation in Zappos’ customers that they will deliver superior customer service each and every time.
They Are Realistic
Some companies fall into the trap of crafting mission statements that are so grandiose and philosophical that they lose all touch with reality. Mission statements must be grounded in what your company provides customers in the present. Save the inspirational and future-based language for your vision statement.
They Are Memorable
What are the major phrases and terminology you can use in your mission statement to make it memorable? That doesn’t mean that readers must be able to recite your mission statement in whole as if it’s a catchphrase, but it does mean that people should be able to associate key aspects of that statement with your company.
They Are Active
The word “active” in this context refers to active verbs that make readers feel as if something is happening now rather than in the past. For example, instead of writing, “These products are made by our company to improve your life,” you should write, “Our company makes these products to enhance your quality of life.” Notice how the transition from passive to active verbs, and substituting “enhance your quality of life” for “improve your life” conveys a stronger message?
They Are Positive
It’s significant that you avoid negative messages because mission statements are all about how your business solves a problem, fulfills a want or need, or makes life easier for your target audience.
They Are Adaptable
A strong mission statement is something that your marketing and product development teams can also use for motivation and direction. For example, eyeglass brand Warby Parker’s mission statement is, “Warby Parker was founded with a rebellious spirit and a lofty objective: to offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses.” The concepts of “rebellious spirit,” “revolutionary price,” and “socially conscious businesses” are all a marketing department’s dream because they are sellable concepts.
They Are Targeted
It’s significant to remember that mission statements are expressed to your target audience, so the message must match the wants and needs of that audience. Going back to the Zappos example, the company knew that customer service was a huge deal among women who shopped for shoes, so it tailored its statement to match the desires of that audience.
Reference: (for information above)
Quain S. (June 29, 2018). 9 Characteristcis of an Effective Mission Statement. Retrieved from https://smallbusiness.chron.com/9-characteristics-effective-mission-statement-18142.html
(Your report MUST include a reference list. All research should be cited in the body of the paper. Reports without citations are unacceptable. Your report should contain an abstract, a short introduction, and conclusion in addition to the body of the paper. The use of Wikipedia is not allowed, only resourceful peered review articles.)
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