Tolapp Corporation

Tolapp Corporation

Introduction

Tolapp Corporation is one of the successful manufacturing companies that are based in United States. The company is located in Tennessee. Tolapp Corporation is involved in building lawn mowers, power tools, microwaves, lawn furniture and ranges. The main focus of this assignment is on the global expansion of Tolapp Corporation because in the local market the company is enjoying good market share in the category of home electrical appliances and power tools.

Mission Statement

The Tolapp Corporation's mission statement revolves around ensuring that reliability of the Tolapp Corporation is one bulk power. Tolapp Corporation is the manufacturing reliability organization which is certified by the American Electrical Manufacturing Commission. The company enforces and develops the reliability standard that is involved in assessing adequacy bi annually and annually.

SWOT Analysis

Strengths

Product Innovations

Innovations in the product of the company is considered as its strength because through continuous innovations and developments of the company's existing products can actually give competitive advantage to the company. Through the introduction of new products in the product line of the company, it can also attract more customers and it can also serve as the basis for the global expansion.

Market Share

The company in its local market holds sound market share, consumers are attracted to the products of the company because of its pricing and superior quality. The company enjoys medium to high level of profit margins as compare to its other local manufacturers.

Flexibility

Flexibility to the technological changes and advancements in the manufacturing and production of electrical products turn out to be the strength of the Tolapp Corporation.

Resources

The company has dedicated and skilled staff which are more oriented towards the sound positioning of the company's product and believe on information sharing. However, the company is devoted to the consumer's products and attempts to make its customers preferences at its priority level. The human resource of the company is highly qualified that are always ready to adopt innovative changes and bring technical innovations in the product production processes.

Price & Quality

The company has priced its products quite competitive with its existing local competitors. The superior quality of the company's products holds the major strength for the company and maintains long term relationship with the customers of the company.

Weaknesses

Third Party Dependency

The company is highly dependent on the third party for the allocation of its raw materials. The dependency on the third party puts a lot of pressure on the company because they have to align with their terms and conditions. The suppliers of the company state their own terms and conditions.

Unfunded Employee Pension Benefits

Tolapp Corporation holds considerable unfunded pension obligations. Tolapp Corporation is also involved in sponsoring several numbers of pension plans that includes the Tolapp pension plan and the Supplementary Pension Plan of Tolapp. At one side the Tolapp pension plans are providing benefits to most of its employees who are based on the superior formula for identifying career earnings and another formula of identifying service length and total average earnings. The increased amount of underfunding was ...