ABLE CORPORATION

Able Corporation

Abstract

Able Corporation, a 25year old tool company based in the US, offering a diverse line of specialized products is facing problems. The lack of market knowledge and marketing strategies is resulting in the loss of its market share. The report incorporates steps and guides the company needs to take to revamp its position in the current market, and to expand by entering new markets globally.

Table of Contents

Able Corporation4

Able Corporation4

Current situation4

Strengths4

Experience4

Specialization4

Product diversity5

Has Walden Corporation as its parent company5

Strong circular saw brand equity5

Weaknesses5

Location5

Low Quality products5

Weak marketing5

Poor market research and knowledge6

Incompetence management6

Opportunities6

Advances in battery technology6

Better marketing ties with retailers6

Tax exemption in foreign markets6

Lowered production cost in the form of labor7

Internet marketing7

Threats7

Drop of demand due to outsourcing7

Hindering laws and policies7

Increased cost of production7

Local competition in the foreign country8

Entry barriers8

Preliminary Market Analysis8

Potential growth of Market8

Profitability8

Environmental Analysis9

Preliminary Mission9

Key operating principles9

One-year strategic objectives9

Five-year strategic objectives10

Ten-year strategic objectives10

Potential ramifications10

Feedback mechanisms10

Able Corporation

Able Corporation

Able Tool Corporation is a women-owned machine shop which has remained a leader in prototype work, short-run manufacturing, rebuilding and repair of process, machinery since 1984.

Current situation

Facing stringent competition from the market, the company needs to revamp its market strategy and processes while entering a new market s to capitalize on opportunities while compensating for the saturation of the current market. This report has been compiled for the strategic officers' steering committee (SOS-C) of Walden International.

Strengths

Experience

The company has sufficient experience to use as an asset, not just to attract more clients, but to provide better quality service, catering to a diverse target market.

Specialization

The company has competencies in a variety of areas giving them an edge over their competitors when it comes to developing prototypes, or manufacturing parts or tools in the short-run in addition to repairing, and rebuilding of machinery.

Product diversity

The flexibility the company has in terms of products offered, gives it a clear advantage over the competition.

Has Walden Corporation as its parent company

Able corporation can not only benefit in terms of monetary and influential terms, but also from Walden corporation`s extensive global exposure.

Strong circular saw brand equity

The company`s saw brand is well known and established, which should be capitalized on.

Weaknesses

Location

The company being situated it the Ohio, may have limited actual exposure to the global market, limiting its reach into these markets to its full capability.

Low Quality products

The company`s products, with the exception of the circular saw, are considered low quality, and occupy less than 3% of the market share.

Weak marketing

The company lacks in the marketing side of the business resulting in the loss of business.

Poor market research and knowledge

The company has little if not no information about its market share, market size, or the dynamic which affect the market.

Incompetence management

The top management is too busy arguing with each other, that they are not focusing on the company or employees, who are scared of losing their jobs.

Opportunities

Advances in battery technology

Breakthrough in battery technology in the future can enable the company to take their cordless products to a new level with greater power and battery ...