Review the web sites of the following companies participatin

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Now that you have studied economic indicators, it’s time to turn your attention to competition and considering the future via forecasting. Prepare a report detailing the following:

Review the web sites of the following companies participating in the power tool industry: Black and Decker, Makita, Bosch, Porter Cable. List as many corporate, business, functional, and operating strategies for each company as you can glean from the posted literature.

Considering that forecasting services and other information agencies often differ in their prediction of the future state of the power tools industry and vital economic indicators, how would you go about putting a forecast together given these disparities?
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Running head: Competition and Forecasting

Problem
Now that you have studied economic indicators, it’s time to turn your attention to competition and considering the future via forecasting. Prepare a report detailing the following:
Review the web sites of the following companies participating in the power tool industry: Black and Decker, Makita, Bosch, Porter Cable. List as many corporate, business, functional, and operating strategies for each company as you can glean from the posted literature
Considering that forecasting services and other information agencies often differ in their prediction of the future state of the power tools industry and vital economic indicators, how would you go about putting a forecast together given these disparities?
Using the Library, Internet and other phase resources to research this topic, please complete the task with in-text citations and references in APA format.

This paper will encompass key components on the strategies of three organizations which are deemed to be pioneers in the power tools industry. It will also discuss how to formulate a forecast for these organizations due to the diverse information which is provided.

Black & Decker
Black & Decker was founded by Duncan Black and Alonzo Decker, two ambitious entrepreneurs who had a small machine shop in Baltimore, Maryland. Black & Decker had a goal and mission which led to the creation of this successful organization. The company has experienced various milestones thanks to their focus on innovation and technology such as the introduction of the first power drill in 1915 and the development of the Lunar Surface Drill to remove core samples from the moon [1]. Much can be learned from the strategies of this organization as they are considered the market leader of product development and have grown in many areas of the market.
Corporate strategy. Black & Decker wishes to establish themselves at the finest “global manufacturer and marketer of power tools and accessories, hardware and home improvement products, and technology-based fastening systems.” [1]. Their products are marketed throughout the world and much of their revenue is outside of the United States. They wish to foster on this success and increase their presence throughout the global marketplace in their vast array of products. The company has acquired companies such as tools group Pentair Inc. in order to expand market share. Yet, they are committed to preserving the quality of the environment. This is demonstrated through their “sound environmental management principles which are transitioned into the design, manufacture and packaging of their products. Additionally, they are a leader within their sector in chemical emission reduction, product stewardship and battery recycling” [1].
Business strategy. Black & Decker utilize multiple, differential, focus or niche strategies. For instance, in 1999 the company adopted the focus of expansion into the global market through utilization of the internet and e-business. This strategy was to foster growth in market share through gathering support of key retailers during their global expansion.
Functional strategy. Their focus is reducing inefficiency throughout the organization. This is seen through the adoption by the company known as the “cut-and-build” strategy which has reduced costs and improved distributions [1]. However, there are multiple areas within the company that make the organization a complete unit. Each has their own point of focus and their own goals to be achieved. A synopsis consists of the following:
 “Power Tools and Accessories segment which manufactures and markets consumer power tools, accessories, electric lawn and garden tools, and electric cleaning and lighting products under the Black & Decker® brand, and high-performance power tools, accessories, industrial equipment, laser products and air compressors …