Assignment Details One main post and three peer post This assignment has 2 parts

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Dec 19, 2022

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Assignment Details
One main post and three peer post
This assignment has 2 parts.
Post an executive summary of your Comprehensive Project in the body of a post in this Discussion Board (do not use attachments). An executive summary is a 10% synopsis of a larger document that outlines the purpose, planned processes, actual processes, findings, and recommendations for the project. Chief executive officers (CEOs) often read and assess executive summaries before deciding to read entire reports. Consequently, the summary must be a high-quality narrative that demonstrates the significance of the work, addresses all the important issues being undertaken – the seven GP questions are important issues – shows, the objectivity of research and analysis underpinning the report, and establishes the credibility of the resulting conclusions.
Please review the executive summaries of other students, and provide an objective assessment and constructive feedback that will help strengthen the effectiveness of their efforts and the quality of their finished reports.
1ST PEER POST
With headquarters in Tennessee, ToolsCorp Corporation is a well-known producer of both hand and power tools. A variety of industries employ the company’s products, which are known for being of the highest quality. The domestic market has seen significant expansion in recent years, and ToolsCorp Corporation is now prepared to diversify globally. The business has determined Germany to be a promising market for expansion after doing in-depth market research and analysis. The advantages of the German market, the company’s strategic goals in Germany, and the suggested market entry approach are all covered in this executive summary, along with the goals and advantages of expanding in Germany.

Advantages of the German Market
ToolsCorp Corporation finds Germany to be a prime market because to its robust economy and developed manufacturing sector. With a Gross Domestic Product (GDP) of over 4.1 trillion US dollars, Germany has the largest economy in Europe and the fourth largest in the world. The workforce in Germany is highly skilled, and its infrastructure is well established. German workers are known for their engineering prowess, making them ideal for producing high-quality tools and equipment.

Strategic Objectives
Increasing sales and increasing market share are the main goals of ToolsCorp Corporation in Germany. A robust network of distributors, suppliers, and clients will be developed by the business to achieve this. Additionally, the business has located possible production locations and is looking into chances to create joint ventures and strategic alliances with regional businesses.

Market Entry Strategy
The three-stage technique serves as the foundation of ToolsCorp Corporation’s market entry strategy. To better understand the German market, the organization will first conduct market research. The competitive advantage, customer needs, and potential investors will all be examined in this analysis. Establishing a presence in the country will be the second stage, which entails creating a legal entity, hiring staff, and creating supply and distribution networks. Finally, the business will start a marketing initiative to advertise its goods and services in Germany.

Setting up a new sales and distribution center in Germany: This will allow the company to distribute its products more easily to customers in the region and provide better support for its sales and marketing efforts.

Establishing partnerships with local distributors and retailers: By partnering with trusted local companies, ToolsCorp Corporation will be able to reach a wider audience and build a strong presence in the market.

Investing in marketing and advertising: To increase brand awareness and drive sales in Germany, the company will invest in targeted marketing and advertising efforts, including digital marketing, print and media advertising, and event sponsorship.

Conclusion
For ToolsCorp Corporation, entering Germany will be a tremendous opportunity to grow both its customer base and its profitability. A successful expansion into Germany can be made possible by the company’s strategic goals, market entry strategy, and advantages of the German market. ToolsCorp Corporation can dominate the German market if it has the necessary resources and expertise.
2ND PEER POST
Dear leadership team,
Brittany, Kikeloma, Stacy, Yenitza, Tracy
Tools Corp has decided to embark on an expansion from Tennessee in the United States. With the current conditions of the US due to Covid and the state of the mandating low contact with consumers to minimize the transmission of disease. We have lost a great deal of revenue and have decided that Switzerland, Sweden, United Kingdom will be the best options for our business. There are options for joint ventures and huge expansion. Understandably, the detachment will not come without hast from our current clientele that have stayed loyal during this crucial time. However, if we plan to survive, we must sustain a ROI. All the countries are very open to women and their creative ideas. It is important for our business because of their vast attraction to tourists. This potential revenue could be the focal point in revenue. Granting the company access to all our competitor’s lower prices.
I know there may be many questions regarding why these particular countries were picked over the array of many. The decision wasn’t taken lightly but they are the leading in the country as of date. We are aware that we are taking a slight risk entering a larger economic pool. However, if all goes well, we will reap the benefits of our labor on a mass level. While in the past we didn’t follow trends we think it best for the future of the company to join the companies that have the technology advancement and population to support our further endeavors. As a team of successful, educated leaders we will all show our strengths and use them to our advantage to advance our business.

Reference
Uniel (2022) The Top 25 Economies in the World (2022) (ngontinh24.com)
3RD PEER POST
Hello Class,
So here is the thing. We are expected to do a comprehensive summary on a project on something that’s not even started. The young lady that’s in my group hasn’t started the project and neither has I. Although I have reached out to a tutor they are not available until Sunday. I must have an initial post so this is it! Complete transparency. I will work Sunday with the tutor for help for two reasons, 1 I need this class to graduate and 2 I need to understand how to do this for my future. Between work, being sick and the kids I’m shocked I can even comprehend. I wish y’all the best and I will be working to complete everything soon!

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