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Fifth Section - Essay Example

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Fifth Section

One-year strategic objectives are to identify a market which most effectively exploited its capabilities, the market for cordless segments, and develop this market. The brand in turn should acquire a distinctive identity. That combination, a system of production which gives the company a particular advantage in its chosen market segment, a world-wide reputation for product quality, and a brand which immediately identifies the aims and aspirations of its customers, will make Able Corporation one of the most profitable manufacturers. Five-year strategic objectives are: (1) to develop innovative products and solution which meet needs of target audience and allow Able Corporation to sustain strong market position; (2) to penetrate new market segments of PEPT; (3) to become a leader in cordless market segment. A ten-year strategic objective include: (1) to transform itself from a medium-ranking company with uncertain future to Europe's leading PEPT producer; (2) to build two plants in Eastern Asia and (3) to penetrate Asian market; (3) increase market share in 50 % (McDonald, Christopher 2003).
Business strategy looks at the relationship between the firm and its competitors, suppliers, and customers in the markets which it has chosen. ...Show more

Summary

Future growth and profitability of the company depends upon strategic vision and plans based on past performance and market forecast. Typically, the best overall outcome both collectively and individually, is achieved by free and frank exchange of information; yet there are almost always strategic gains to be made by withholding part of the picture (Johnson, Scholes 1998).
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Fifth Section essay example
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