Business Strategy Able Corporation Essay Example | Topics and Well Written Essays - 1000 words

Business Strategy Able Corporation - Essay Example To avoid this situation, it is important to take into account operational and measurable factors and data for various attributes. "A vision statement pushes the association toward some future goal or achievement, while a mission statement guides current, critical, strategic decision making" (Drohan, 1999 cited Cardani n.d.). At first, it is important to identify the target audience of the company and analyze whom the mission statement is addressed to. The mission statement is based on goals and performance of the company and answers the question: "Why do we exist" (Hamel, Prahalad 1996). The information needed for the mission statement includes current and future goals, purpose and main priorities of Able Corporation. This information can be found in financial documents of the company and its advertising slogans, strategic plans and corporate objectives of Able Corporation. It is known that Able Corporation operates on the electronic market proposing customers a wide range of portabl e electric power tools of professional and consumer quality. Also, it manufactures some products for the cordless business segment being an innovator in this market segment. Establishing a value creation agenda is paramount to meeting the challenges of today's competition. Organizations like Able Corporation must examine their value added in the services they provide, develop a capability to rapidly create and deploy product service offerings as customers' requirements evolve, realign the organization in order to make customer relationship management a core competency and establish a network of partners that provides a broad range of product offerings. Able Corporation must re-examine the value it add to products and determine what the primary added value is, if it will remain valuable over time and if it is perceived by customers as a clear differentiation in the market. When formulating a strategy to derive a value proposition, organizations should consider the following factors: technology will continue to alter consumer interaction, brand identity must be distinct and identifiable, mature markets are often areas of great change, major changes in the market create many new opportunities, etc (Frame, 2003). The main elements that might be contained in Able's value proposition should be the customer segment and the core differentiation of its products from competitors. Customers are the main driven force in this market, so it is crucial to take into account their needs and expectations. Simply reshuffling the existing organization provides little value as a beginning stage to reshaping the culture and attitudes towards a customer-focused orientation. Establishing a value creation agenda is vital to meeting the challenges of today's competition. Abel Corporation must examine its products and develop a capability to rapidly create and deploy product offerings as customers' requirements evolve, realign the organization in order to make customer relationship management a core competency and establish a network of partners that provides a broad range of offerings. The value proposition of the value network lies in the organization's ability to collect resources to fulfill a process and/or opp ortunities that may or may not be delimited by time. The main principles of strategic development will be innovations,