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Strategic Management Unit 5 IP - Assignment Example

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Summary
This PLANNING consists of a brief introduction, SWOT analysis, Market research, Business plan, Operating principles, Strategic objectives and conclusions.
Tools Corp Corporation is a musical instrument making…
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Strategic Management Unit 5 IP
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Download file to see previous pages A business is as good as its planning, controlling and implementation. During this study different strategic discussions will be there which would help the company to keep its footsteps in the Tennessee market.
Strengths: - It is a very well known company throughout the USA. As it is very well known people can easily recall its name. Management of the company would not find any problem regarding their recognition of their products. Company makes good quality of musical instruments. Products are of very high quality. Customers are very stratified with the products made by company. Quality assurance is a real strength for the company. Price ranges of their products are also well within the reach of normal customers. Company is having a great pool of experienced work force. Tools Corp Corporation is having great after sales services facilities for their customers. After sales service is also a great strength for the company.
Weakness: - Modern day musical instruments companies are coming up with different kinds of innovative products. Company is having certain set of products. Company is lacking in innovative products. Company has lesser stocks of products for sudden demand in the market. Company’s total working model is not that much technically advanced like other companies in the industry. Company is over dependent on one or two vendors. Every other player in the industry are giving importance to promotion and branding. Company is lacking in this aspect also.
Opportunities: - Tennessee is a music loving state. People here are very fond of their music. As a musical instrument company it would create lots of opportunity for the company. Opportunities are very high as cost-effective musical instrument companies are in few numbers in this market. Whole lot of middle income people of Tennessee can be opportunity for the company. New and young people are making new bands. These types of new budding members of the state can be opportunity for the ...Download file to see next pagesRead More
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