Introduction
ToolsCorp Corporation is a multi-National company with operations in many parts of the world. The company is considering expanding their services into India. The main objective of this paper is to find out whether it will be feasible for this company to expand its business into India.
Background Information
In his research, Falsey (1989) argues that there are numerous opportunities that have been identified in India as a country and as a result, ToolsCorp is looking forwards expanding into the Indian market. The purpose of this paper is to look at the background and strategic plans as well as carry out a SWOT analysis in order to determine whether it is feasible to expand the company services to the Indian market.
ToolsCorp aims at connecting all buyers of its products around the world. This company was established in 1990 and it is commonly referred to as ToolsCorp.com due to its very popular B2B website. The website has a website of a similar name. This website was launched in 1996 to offer the world a platform where they can shop for machine tools of the highest quality. The company has a wide array of products as well as services. The portal owned by ToolsCorp serves as an important platform where buyers can be served from any part of the world. This improves business operations and effectiveness.
ToolsCorp has a lot of experience in manufacturing and marketing of the products to the rest of the world.
India has a population of 1,236,686,732 people according to Doing Business Report 2014. This is a large number of potential consumers. India is ranked highly when it comes to the ease of doing business. It is far ahead of other Asian countries such as Indonesia and China. These are some of the factors that make India very attractive to Multi-National Companies across the globe. According to Chambers (2007), the report on Doing Business in India creates plenty of hope in areas such as getting electricity and enforcing contracts. Getting a reliable source of electricity is very essential in doing business. ToolsCorp will take its strategic position in Tools manufacturing business.
Question 2.
SWOT ANALYSIS OF TOOLSCORP
Question 3. Strategic Proposal
Strategic Proposal
- One Year Strategic Objectives
We aim to set our business and start manufacturing tools in our first year of operation. This will involve setting up the necessary infrastructure and acquire the necessary permit from government and regulatory agencies.
- Implementation Plan
We will carry out these assignments in three phases, in the first phase we will acquire all the operational licenses. That is for the first three months. The second phase will be for construction and installation of all the required equipment as well as machinery.
Feedback Mechanisms
The supervisors and middle level management officers will be reporting on the progress of the project until completion.
- Five Year Strategic Objective
- Implementation Plan
We hope that in the next five years we will be able to control over 50 per cent of the market share in manufacture, distribution and sell off will of tools in India.
- Ramifications
We will have to compete with the companies, which already exist in the industry.
Mission Statement
ToolsCorp has a noble mission. This mission is to assemble, trade and marketing its machine tools under its popular brand names. Our mission is to dominate machine-manufacturing industry in India within a period of five years.
We aim at making ToolsCorp a company of choice for our employees. We hope to provide the best working environment to all our workers in the factories and our retail outlets.
References
Chambers, K. D. (2007). The entrepreneur's guide to writing business plans and proposals. Westport, Conn: Praeger.
Falsey, T. A. (1989). Corporate philosophies and mission statements: A survey and guide for corporate communicators and management. New York: Quorum Books.
Hathi, U. (2013). Doing Business in India - Legal Environment. Saarbrücken: LAP LAMBERT Academic Publishing.
Manser, M. H. (2006). The Facts on File guide to good writing. New York: Facts On File.
