Able Corporation

Rudimentary Mission Statement "To become a global giant in the field of lawn equipment and accessories, power tools and microwaves by redefining the standards and benchmarks established in the industry and establish a brand name which will be considered synonymous with the products manufactured by the company worldwide."

Key Operating Principles Implement Total Quality Management and achieve highest level of Customer Satisfaction by becoming more customer and quality focused business entity. Transform from a traditional, family owned organization to a professionally owned, modern business entity by implementing such change among the employees in the organization. Implement best practices and modern operating mechanisms prevailing in the industry to improve efficiency, reduce wastages and achieve better operating margins and bottom line results. Focus on Global expansion by developing tailor made strategies for each international market and for each product line. Hire experienced international managers who have previous experience of operating in multicultural business environment and have proven track record of establishing international businesses.

Key Elements of Market Analysis External Environment Analysis including:  Competitor’s analysis  Complimentary and Substitute Products  Market attractiveness and growth rates  Entry barriers  Impact of government actions and changes in political environment  Changes in consumer taste, preferences, demographic characteristics, socio-cultural, economic environment Internal Environment Analysis including:  Internal Strengths, Weaknesses, Opportunities and Threats  Evaluation of current corporate strategy, product positioning, product mix, marketing techniques and effectiveness of marketing research, human resource strategy

SWOT Analysis: Able Corporation Strengths  Wide range of products catering to the consumer as well as professional segments  Widespread brand image and recognition in the marketplace  Good market share in the circular saws segment Weaknesses  Traditionally a family owned organization with outdated business practices and lack of professional management  Obsolete manufacturing plants and absence of modern operating practices resulting in high manufacturing costs and poor product quality  Lack of focus on total quality management and customer satisfaction  Lack of market research practices and market intelligence information

SWOT Analysis: Able Corporation Opportunities  Tremendous growth in consumer and cordless market segments  Opportunities to explore global markets  Opportunities to reduce cost and enhance quality via modern quality practices  Capitalize on the existing brand image and recognition in the marketplace as well as utilize existing distribution channels and shelf space to push new product range. Threats  Threat from existing competitors as well as new entrants with improved product quality and lower costs of production  Extreme price pressure from big box retailers like Walmart.  Threat of losing key employees due to pessimism and fear in the company due to takeover by Walden  Superior marketing practices of competitors may erode competitive advantage and market share