ToolsCorp Corporation

Toolscorp

Name

Institution

Toolscorp

Strategic objectives and initiatives are important for any organization especially those that are seeking to be a leader in their respective industries. In this organization, the strategic plan is divided into three categories;

One Year Strategic Plan

• One year strategic plan. Under this strategic plan, the organization is looking towards setting clear the path and the goals that it is looking to achieve by the end of the year.
• Five year strategic plan. In this kind of a strategic plan, the organization is setting clear the medium term goals that it will be looking to achieve once the business is up and running.
• Ten year strategic plan. This is the long term goals of the organization (Andrecka, 2017).

Implementation Plans

• Increase service and product awareness.
• Develop relationship with potential customers
• Ensure that the team is properly trained to attain the goals ahead.

The organization looks towards increasing product and service awareness to potential clients through intense advertising. This will be achieved if the organization invests in product promotion and advertising. To develop the relationship between the organization and the potential clients, the company will set up a public relations office that will be inclusive of the customer care desk. Such that in the event that an individual is seeking help them can be able to get it. To be able to ensure that the team is full of the required talent, then the organization will enter into a deal with the local universities to see if they can have an institution that will be able to support their plans.

Potential Ramifications

Feedback Mechanism

• Increased brand awareness.
• Increased costs of production
• Increased efficiency especially among employees after the training.
  • Increased sales if all the targets are achieved.

5 Year Strategic Plan

• The company will set up the customer care desk where customers or clients can be able to call in in case they are dissatisfied by any decision that the company has made that does not suit their needs. There will also be constant employee reviews and assessments to monitor the progress of the performances of employees after training.

Implementation Plans

• Open more company branches.
• Introduce internal training systems
• Increase sales of products
  • Improve employee contracts and fetch workers from other organizations with deep experience in the industry.

Ramifications

• To open up more branches, the organization is looking forward to find sponsors that can be able to hold the hands of the company as far as realizing the plans of the organization is concerned.
• To increase the sales of its products, the organization is looking forward towards increasing advertisement and awareness campaigns coupled with creating sale offers to be able to attract the customers that are loyal to other brands for the sake of low prices.
• To reduce its operational costs, the company in five years will be looking towards creating an internal assessment system that will be able to train employees and boost their productivity without having to send them to school which is much expensive in terms of the money and the time spent. This will also be essential in attracting workers from other organizations. The company is also looking forward to revising the employment contracts of the top performing employees in the organization

Feedback Mechanisms

• Increased sales in terms of the income the company will be getting.
• Quality service delivery as a result of increased technical expertise on behalf of the employees.
• Increased brand awareness as a result of opening more branches and franchises that will make the product known world over (Andrecka, 2017).

The company will look at the profits that the company has earned over the years to see if the plans are going as per the plan. Also, there will be personal tests and assessments on the employees to ensure that they all act as per the plan of the organization. The company will also conduct surveys with the employees to discuss how the feel the improvements have been and what exactly should the company work more on.

10 Year Strategic Plan

Implementation Plans.

• Be the leading technology solutions company
• Open branches in other continents.
• Diversification in terms of the products and the industries that the company will be operating in.

Potential Ramifications

• To be the leading technology company, the organization will have to invest big in its processes to be able to bring up the profits that will enable it to invest more and expand the business.
• The company will look for sponsors and partners that will be helpful in setting up branches of the organizations in other continents.
• The company will also invest in other industry so that the company can diversity its wings and increase its operational portfolio (Ferran, 2016).

Feedback Mechanisms

• There will be increased sales.
• There will also be increased costs of operations as a result of the expansion.
• There will also be increased safety and security in terms of the industries that the company will be operating in

The company will have a customer care desk that will be taking opinions and improvement suggestions from the clients as far as production, service and product delivery is concerned. The company will also work in close proximity with product review cmpanues to ensure that the organization continues to produce products that are in sync with the demand of the clients (Ferran, 2016).

References

Andrecka, D. (2017). Sustainability, Public Procurement and SMEs Challenges and Opportunities. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.2911828

Ferran, E. (2016). Corporate Mobility and Company Law. The Modern Law Review, 79(5), 813-839. http://dx.doi.org/10.1111/1468-2230.12216