Wednesday, August 28, 2019
Fifth Section Essay Example | Topics and Well Written Essays - 500 words
Fifth Section - Essay Example 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 Eas tern 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.