MGT 680 Week 3 Discussion

MGT 680 Week 3 Discussion | American Intercontinental University

Hello Class and welcome to unit 3 of the discussion board.

Q1a- Describe the process that you plan to use to conduct research, identify findings, and develop the comprehensive project due in unit 5. To complete this complex assignment, I will begin using the school library and the internet to find information about a company or companies similar to the fictitious company- Toolscorp to help set up an expansion plan. I will stay in contact with my peers who are in group 1 by phone, discussion board, and live chats to exchange information associated with the project. Also, I will make sure I post my progress towards the part of the assignment that I am responsible for and will help where I am needed to ensure the assignment is complete on time. I will use the references provided by fellow peers to obtain more valuable information on the project.

Q2b- Present a preliminary outline that indicates how you plan to organize the project deliverable.

Q3- What are the essential elements of a Mission Statement? A mission statement should define the purpose of the organization. Why the organization exists and how it is set apart from other organizations. It should explain briefly the strengths and key competences of the organization. A mission statement should contain a clear line of direction that the organization will take. Also explain the products and services offered and why they are unique. It should express the plans for the future success of the organization and the beliefs and aspirations that management have.

Q4. What is the purpose of the Key Operating Principle? The purpose of this principle is to allow all persons involved to be aware of the long-term goals of the organization. It helps the organization to balance the priorities when there are decisions to be made and it shows what should be done.

Q5a. What sort of additional material would best ensure success of the project? If there would have been more information on this fictitious company would have been helpful. The inflation rate and exchange rate of different countries, and the infrastructure of other countries needs to be explored to see if it is financially wise to invest in the expansion of Toolscorp.

Q5b. Why? The exchange rate and the inflation rate are very important when trying to expand to a foreign country. Also, you need to know is it a developing country and what the technology looks like. If it is undeveloped, then you might not be able to succeed.