STRATEGIC MANAGEMENT ASSIGNMENT

Strategic Management Assignment

Abstract

Able Corporation is a successful US manufacturing company located in Tennessee that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. Able Corporation is the industry leader, sold All products locally and through large retailers like Sears, Best Buy, and Wal-Mart. In this paper we have discussed Able Corporation and its mission statement, Strategic objectives and finally implementation and feedback mechanisms of the company.

Strategic Management Assignment

Introduction

Able Corporation is a successful US manufacturing company located in Tennessee that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. All products are manufactured locally and sold through large retailers like Sears, Best Buy, and Wal-Mart. They have sale papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the US and Canada, Able is trying to break into the global marketplace.

Able Corporation and its mission statement

Most firms have a mission statement. With some exceptions, companies create, post, rely upon, and defend this document of stated beliefs. Yet few management tools evoke as strong an emotional response from executives, managers, and academics as results from a discussion of mission statements. Bring up the mission statement, and this otherwise benign tool creates conflict among the most seasoned business minds. Is it sinner or saint? Is it useful for practical, day-to-day operations, or simply an archaic document that takes up space on the wall?

Able Corporation is a successful US manufacturing company located in Tennessee that builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. Able Corporation is the industry leader, sold All products locally and through large retailers like Sears, Best Buy, and Wal-Mart. Thus Able Corporation is concerned with customers on both levels, institutional and end consumers, but the primary customer is home utensils.

Able Corporation's mission statement, created by its founder, still identifies the core values of the corporation. There is strong commitment to this mission both at the corporate and subsidiary levels. Able Corporation passes its core values to the subsidiaries in the form of “measurables”, broad areas and levels of behaviors, consistent with the corporate mission, expected of the subsidiary. Measurables, to Able Corporation, are essentially a hybrid of goals and objectives. They are a broad target, like a goal, but provide some specifics like an objective. At Able Corporation, these corporate measurables were used to create the company mission statement.

Able Corporation's mission statement is a typical mission, identifying key stakeholders and stating the company's commitment to meet these stakeholders' needs. However, what is special about Able Corporation's mission statement is its use as a living document, a guide to day-to-day behavior in the company. The remainder of this section details the use of the company mission at one particular plant (Tennessee), as related by a plant level executive.

The concept of “measurables” is key to the practical application of the mission statement in Able Corporation. While the mission statement is given to every employee and hangs on nearly every office wall and every break room, it is not the physical ...