Strategic Audit of Snap-on
Question
So most of this paper is already complete and are attached, you may copy and paste some of the content into the paper to make it easier since a lot of that work is already complete. The sections I need complete are Current Situation, Strategic Manager, External Environment, Internal Environment, Analysis of Strategic Factors.
Section IV is already complete and attached for your reference. I also attached the EFAS, IFAS, TOWS Matrix.
Under the "templatesa" file is the EXACT formatting with titles to use. There does not need to be extreme details on each section they just all need to be answered.
Also attached is the Snap-on case study this paper is based off of, as well as the textbook explanation of the Strategic Audit assignment.
Also you may use some of the previously used references.


Solution
Strategic Audit of
Snap-on
Current Situation
A. Current
Performance
1. Snap-on
is a company that was established almost a century back as the Snap-on wrench
Company in Milwaukee, Wisconsin, by Joseph Johnson and William Seidemann. The
company has been for long trading under the public symbol SNA, making it
register positive returns on investment. Having stayed in the market for almost
a century, the corporate has been strategical in ensuring that it remains
profitable in its business and competitive advantage. With deep customer
relationships and innovative solutions, Snap-on corporation has been able to
maintain its market performance for the last five years. While other businesses
across the globe have been struggling to maintain inventory levels, Snap-on
vertically integrated its business to navigate better the current global
challenges (Trainer, 2022). It is clear from the case analysis of the company
that it has been able to maintain significant growth in the current market. The
company's current performance indicates that since it established Snap-on's RCI
framework in 2005, it has been able to eliminate waste and improve its operating
margin, something that made the firm record positive performance for the past
five years.
2. In
the last five years using RCI, the firm has been able to combat inflationary
and supply chain pressures, thus helping it deliver new profitability levels. For
instance, the company's change in strategy has been helping it to perform
effectively in the market in 2021, with its Net sales of $4,252 million, the
highest in the history of Snap-on. Compared to the previous year, 2020, the
firm had recorded an increased Net sale of $659.5 million, including a $550.5
million organic sales gain. Also, with respect to the end markets, the company
has been recording robust sales in the automotive repair sector for the past
five years. The company sales have been strong for the past five years. For
that case, it has been indicated that compared to the pre-pandemic of 2019, its
net sales grew at $522 million, including $392.3 million in organic sales gain
and $49.5 million of favorable foreign currency translation. Therefore, from
the company's balance and income statement for the last five years, it has been
recording significantly profitable in the market.
Strategic
Posture
1. Mission
In
today's market, fierce market competition has made companies across the globe
focus on changing their strategy and sticking to their mission. Snap-On is one
of the most successful marketers and manufacturers of different tools such as diagnostic
equipment and safety equipment in the United States, which has always been
focused on its mission.
a. The
corporate mission was always focused on ensuring it remains the most valuable
company when it comes to innovation. It is clear that the company's mission was
to create value by providing innovative solutions to transportation services
and industrial markets worldwide. The firm ensured it fulfills its mission by focusing
its strategies on customers and leveraging the Snap-On dealer channel with
extended service and product offerings.
b. It
has also been able to use technology leadership through innovation to attract
new consumers and partners in the market. Given that the market today has been
competitive for the past 2 decades, Snap-On has used its mission to remain
relevant in the market.
2. Objectives
From
the analysis of the company's mission, its key concern for the past century
indeed was to ensure it remains unique and competitive in the market, which
made it enhance objectives that were effective to the growth of the form in the
market.
a. The company's objective was to ensure it
maintained its premium brand and high-quality image.
b. Further,
knowing the competitive market ensures that it utilizes franchise as a key
marketing tool, premium brands, and high-quality image and expands to emerging
markets. These marketing objectives helped increase the company's overall
product uptake in all the regions where it was present.
3. Strategies
The
company uses different strategies to ensure that it maintains its positive
performance in the market.
a. It
uses a direct selling strategy, which seems effective because the product is
represented directly to the final consumer. Also, the company uses indirect
selling, which in most instances has not justified company expectations, but it
has remained a cornerstone of the snap-marketing plan as it has helped the
corporate avoid huge advertising expenditure.
b. Another
strategy that the company has used to ensure it maintains its market
performance is keeping its purpose unchanged. This means that it focused on
providing industrial users and mechanics with quality products and favorable
purchasing conditions. Also, choosing one specific target market and specific
consumers was another essential strategy that Snap-on used to leverage the
market.
4. Policies
Apart
from the company being focused on maintaining its growth in the market and
remaining competitive advantage over its competitors, it believes that
environmental goals could and should promote economic operation and growth.
a. Some
of the company policies were to ensure that it implements an environment well
designed to mitigate and prevent factors that can affect its business operation
and objectives.
b. It
also has a policy that ensures that it manages all its operations to exceed or
meet applicable environmental regulations as that helps consumers know its
environmentally caring corporation.
Strategic Managers
In
Today's environment, businesses are in a competitive market that tends to lose
their market value and profitability in case of any mistake. For this reason,
Snap-On company ensured that its management leadership was strategically
established in order to help in decision making and directing organizational
activities on the right path (Patrick Gorman, 2018). The company was committed
to conducting business and making decisions that were within the law and
honest.
A. Board
of Directors
1. Snap-board
on's of directors is made up of people from various backgrounds, which has
aided the company's growth in the market due to its inventive nature.
2. The
board of directors is assisted by governance guidelines and committee charters,
which have helped them stay focused and ensure that the management team makes
an informed decision that aims to enhance long-term shareholder value
(Department, (n.d). It is always the mandate of the company board of directors to
ensure they monitor the effectiveness of policy and decision-making both at the
management and Board level, thus demonstrating integrity in their leadership.
B. Top
Management
1. The
leading an organization at the top is Nick Pinchuk, an innovative and inclusive
CEO that has led the company with a strong sense of pride and belief. In
addition, the company's top management embraced inclusivity and diversification,
which has led it to remain a more innovative and competitive company in the market.
2. The
top management led by the CEO has been ensuring that the company is rooted with
dignity, something that made it connect with its consumers, thus developing
further advantages in ensuring that their products meet the clients' needs in
the market (Patrick Gorman, 2018). While Snap-on provided top management with
an environment where they could work and thrive, it failed to do the same for
other employers. As a result, the company recorded high staff turnover.
External
Environment
A. Natural
environment
1. Snap-on
Incorporated is a manufacturing
company that produces electronic tools and technical equipment for a client. From
the company analysis, it is indeed committed to safeguarding natural resources
and the environment. Given that the Snap-on was safeguarding the natural
environment, it ensured that the use and disposal of any hazardous substance were
in accordance with environmental laws and regulations (Indeed,
I2021). This was to ensure that it prevents
unreasonable risks of environmental damage.
B.
Societal Environment
1. Economic
a. Although
the Snap-on was focused on ensuring that the company works in an environment
that can enable it to remain profitable macro-environment factors such as interest
rates, inflation, and saving rates have been making firm to determine aggregate
demand and investment in the economy (Hampton, 2018).
b. Given
that the company was focused on thriving in the market, it would use the
country's economic factors, consumer spending, and growth rate to forecast the
organization's growth trajectory.
2. Technological
a. Technology
in the current world is disrupting the operation of various organizations
across the board, an indication that Snap-on should speed up enhancing
technological changes so that it does not disrupt the organization's growth.
b. Snap-on
should understand that it can expand its production scope if it strategically
analyzes and maintains changes in the environment (Indeed, I2021). Moreover, having
an excellent technological establishment helps Snap-on expand its economic
scales and maintain the competition against rivals.
3. Political-Legal
a. Also,
given that the organization needs to maintain growth in the market, it is
necessary to consider the legal framework when entering a new market to avoid factors
that can affect its brand name.
b. It
should be careful in ensuring that it evaluates the country's political and
legal framework before entering a new market as that will make it maintain the
significant competition against its competitors and protect the firm's
intellectual property rights.
4. Sociocultural
a. In
most cases, the culture of society impacts the culture of an organization is
doing things in an environment. Therefore, for Snap-on to maintain its
competitiveness in the market, it needs to understand the customers of a given
market and how they design a given message.
b. The
leadership of Snap-on should analyze sociocultural factors such as class
structure and demographic kill of the population so that to continue thriving
in the market over its competitors.
C.
Task Environment
Given that Snap-on is in a competitive
market, it faces numerous environmental challenges such as the threats of new
entrants in the market, rivalry of existing firms, and bargaining and suppliers'
power. Being external threats to the company, it is the mandate of Snap-on to develop
an effective way to make it remain a unique and competitive market in the
environment. For instance, new entrants in the market come with new ways of
doing things, which always puts more pressure on Snap-on by reducing costs and
providing a new value proposition to the consumers (Indeed, I2021). For Snap-on
to tackle the threats of new entrants, it needs new products and services that
will bring new consumers to the company and give old customers reason to buy
Snap-on products. To deal with suppliers' bargaining power threats, the
corporation should ensure it builds an efficient supply chain with multiple
suppliers (Department, (n.d). Also, substitute products or services have
significant threats to Snap-on, which to deal with them, the organization needs
to be service-oriented rather than product-oriented. It has to understand the core
need of consumers as that will help mitigate threats of substitute products by
making them remain profitable in the market. Further competition from existing
competitors also affects the company's buying power; thus, to tackle this
issue, Snap-on needs to ensure that it builds a sustainable differentiation that
can make it compete better.
D.
Summary of External Factors
1. Snap-on
has to embrace technological innovation to expand its production scope and
transform its production process, which will help expand the economies of
scale.
2. It
should also optimize the positive attribute of consumer behavior, giving it a
chance to attract consumers and build a market that is sensitive to consumers'
choices.
Internal
Environment
A. Corporate
Structure
a. Snap-on
is mainly structured in a way that aims to create value by providing innovative
solutions to industrial markets worldwide.
b. It
has top management who are mandated with running the company and ensuring that
it remains competitive and profitable in the market.
B. Corporate
Resources
a. Having
been in existence for almost a century, Snap-on has a wide variety of resources
that it has been using to ensure the consumers get access to its services. For
instance, the company operates in various segments such as repair systems and
information groups.
b. Also,
it has franchise businesses that it uses to provide a broad array of unique
productivity solutions and business services based on the consumers.
1. Marketing
a. When
it comes to marketing, that company has always steered away from huge
promotional and advertising expenditure by relying on direct selling that was
built upon avowed respect for the organization's oft-maligned customers (Hoffman, 2014).
b. Also,
the company has used the franchise as a tool of marketing where dealers and
sales representatives deliver the company's products and services in different
areas. Thus, the strong distribution marketing channels have made the firm
remain competitive in the market.
2. Finance
a. After
the rebounding from the recession that affected the company's sales in 2009, it
has recorded positive returns. For instance, in 2010, the company gained almost
10 percent in revenue, increasing effectively in 2011 (Pokhrel, 2015). This
indicates that the company's strategy change has made it record positive growth
in terms of revenue collection and profitability.
b. It
also used marketing competitive and market skimming pricing techniques for its
wide range of products, enabling it to increase organic sales and revenues by
at least 10 percent in each financial year.
3. Research
& Development
Given
the increase in market competition, Snap-on invested most of its resources in
the market to ensure that it enhances new strategies that can help it remain
competitive in the market. The company developed a rapid continuous improvement
tool to eliminate the effort and create products to maintain its growth in the
market. The establishment of research and development has made the company
maintain its growth in the market.
4. Operations
Snap-on
has been strategic in its operation in ensuring that it remains competitive in
the market and profitable. This made the company enhance franchisees' license
to operate a franchised mobile store, which enabled it to remain profitable for
more than a century it has been in the market. In addition, having reputable
brand recognition in the market, Snap-on has used franchisees to operate
effectively.
5. Human
Resources
Snap-on
HR has ensured they employ individuals who can help improve validity and trust,
focuses on the whole promoting channels, help the company arrives at its whole
interested group, advances client experience, and upgrades the long-term
marketing system. In addition, HR has helped the company get innovative and
talented employees who have played a vital role in ensuring that the company
offers services and products that meet consumers' demands in the market.
6. Information
Systems
a. The
Snap-On company has a different information system to ensure it remains
profitable in the market. For instance, maintenance and Repair Data is one of
the company's information systems to cover most essential mechanical repair
information.
b. The
key to using information systems is not just for quality delivery of services
but accuracy and ensuring the company is able to deal with drawbacks that may
affect its growth in the market.
C.
Summary of Internal Factors
1. A
strong distribution network is one of the important strategies that has made
Snap-on corporation remain competitive in the market. It has helped widen the
selling of the organization's products in the broad market, thus increasing its
profitability.
2. The
lack of diversity in the market for its services and products seems to expose
several risks to the company that, at long last, may lead to its operation and revenue
collection in the market.
Analysis
of Strategic Factors
A. Situational
Analysis (SWOT)
Snap-on is a
manufacturing company that produces electronic tools and technical equipment
for clients. Given that Snap-on is one of the leading firms in its industry, it
has maintained its significant position in the market by critically reviewing
and analyzing its situational analysis (Hoffman, 2014). Nevertheless, it is true
that the company has been able to thrive in the market because of its strength
and available opportunities in the market.
1.Strengths
a. Snap-on's strengths
include strong distribution channels that it established as barriers to entry
into the industry. A strong distribution network helps in selling products in
wide markets and increases the company's profitability.
b. Secondly, Snap-on builds
a strong competitive advantage by differentiating its products from those of
its competitors by focusing on quality and brand equity, effectively lowering
the competition level.
C. Snap-on focused on its
own and its customer's productivity through innovative productivity-enhancing
products, which gave it a competitive edge over other companies in the
electronic industry. Though Snap-on products were relatively expensive compared
to those of its competitors, the company had a strong value proposition, and
this always attracted customers to purchase them. Snap-on used aggressive
marketing strategies in pushing its products.
5. Weakness
Though Snap-on had
several strengths that helped increase its product uptake, the company suffers
from several weaknesses. It is clear that in the market, there is some weakness
that the company faces; thus, because of SWOT analysis, it has to ensure it
improves its weaknesses and build on its competitive advantage and strategic
positioning.
a. The
company lacked diverse markets for its products and services. Over 65% of sales
generated were from the US, 21% were from Europe, and only 10% were from the
Asia-Pacific continent. Over-reliance on one region exposes the company to
several risks that may hinder the business from operating as a going concern.
Should a financial crisis occur in the US, the company would lose 65% percent
of its total revenues.
b. The
company designs were easily replicable. However, Imitability implies weak
competitive advantages because competitors can copy the same design and use it
as their own competitive advantage leading to a loss of revenue (Rifkin, 2017).
Also, the slow move by the Snap-on in making decisions was another weakness
because it made it difficult for the company to reap the benefits in the
market.
c. Failure
to adapt to changing demographics in the US labor market led to the skills gap.
The US workforce consisted mainly of baby boomers in the 10 years leading to
2013, and Snap-on never considered the impact of retirement on its business.
The company never adapted to the corporate culture to enable attrition and
professional development. The skills gap led to the loss of the company's
competitiveness in the long run.
6. Opportunities
a. Essentially, the company has an opportunity of expanding
its production scope due to technological innovation. Technology has allowed
the transformation of production processes and enabled businesses to expand
their economies of scale. Snap-on Tools has also benefited substantially from
the innovation as it ensures enhanced competition against rivals.
b. Another opportunity the company has is the
decreasing cost of transportation. As with the lower shipping process, the
company can reduce the cost of its products to attract more consumers to the
market.
c. Snap-on Tools has an opportunity of optimizing
the positive shift attributed to consumer behavior. It implies that the company
has a chance of attracting new clients and markets that are customer sensitive
to its supply chain (Snap-on, (n.d). This is to note that modern clients in
developed and developing economies are concerned with how companies produce
commodities delivered to the market.
7. Threats
a. On the contrary, the company also faces
significant threats, as evidenced over the years in the manufacturing industry.
For instance, Snap-on Tools faces the risk of increasing government regulations
in the industry. This was evidenced during the China-U.S. trade war, in which
manufacturing products encountered severe tariffs.
b. Another threat to Snap-on Tools is depicted in
the environmental sustainability regulations and pledges. The Paris Climate
Accord of 2016 and the Glasgow Climate Conference of 2021 have outlined
expectations and pledges made by governments and companies on environmental
sustainability. Manufacturing entities are expected to engage in specific
production and operational practices which meet the minimum requirements.
B.
Review of Current Mission and
Objectives
1. Mission
a. Given
that the Snap-on corporation's main aim is to ensure that it continues to
thrive in the market, it is essential that it review the mission so that it can
motivate its employees to work towards achieving the company goals. The
importance of reviewing the company's mission will allow the organization to
realize what it needs to succeed in the market.
2. Objectives
a. The
importance of Snap-on reviewing its objective is that it will help the firm identify
the goals it needs to achieve going in the future and offers the opportunity to
understand exactly how the initiatives the management has established are
progressing.
b. Another
essential factor for the company reviewing its objectives is that it will be
able to ensure that its goals are contributing to the company's overall
strategy and market growth.
IV.
Strategic Alternatives and Recommended Strategy
A. Strategic
Alternatives
1. Strategic
Alternative #1- No change Alternative
a. Corporate
Directional Strategy
The
company continues with the current strategy of providing quality products to
customers. Snap-on continues with the current marketing strategy of leveraging
its wide network of distributors, franchisees, events and conferences, and van
channels.
b. Supporting
Business Strategy
-
Continue to enhance its franchise network
and help its franchisees to get the best out of their contract.
-
Product differentiation- Snap-On has
always thrived on differentiating its products from competitors by making
quality products. The brand has come to be recognized as a maker of premium
tools
c. Supporting
Functional Strategy
-
Marketing its products using conferences
and events. Continue with marketing initiatives such as The 2013 Toy Catalogue
for Techs.
-
Continue with the franchising strategy,
which has become a powerful marketing tool for the company since it started to
franchise the business.
-
Maintain current human resource practices.
Most of the company's workforce is unionized or under a collective bargaining
agreement which leads to job satisfaction
-
Continue to support technical education in
the US for the benefit of its future operations
d. Corporate
scenario
The company will
continue to grow at the same pace and experience the challenges it faces. For
instance, the company is facing an imminent human resource crisis. A
significant portion of the employees is baby boomers who will retire in the
next five years. The company is having difficulty retaining mid-level employees
because of conservative business practices. The company's net sales continue to
grow at 4% year on year (Hoffman, 2014).
e. Pros
-
The company's net income continues to grow
at the same rate of 4% or less.
-
Snap-on gained on Danaher in terms of
operational efficiency by earning $0.18 of every sales dollar in net profit.
-
The company does not invest any amount in
advertising or any new channels of advertising
f.
Cons
-
Snap-on's revenue growth continues to
fall. The company's revenues fell from a growth of 10% between 2011 and 2012 to
4% in 2013.
-
Employee dissatisfaction with working
conditions will deteriorate, leading to a loss of productivity
-
A lack of growth mindset and innovation
will prevent the growth of Snap-on
-
Shocks in the US market will expose the
company to business risks
2. Strategic
Alternative #2- Growth Alternative
a. Corporate
Directional Strategy
-
Expand to emerging markets
-
Invest in new marketing channels
-
Expand market share in Europe
-
Win more market share from existing
competitors
b. Supporting
Business Strategy
-
Target all segments of consumers in the
very market using modern advertising channels
-
Replicate the customer acquisition and
retention strategy that has worked in North America in AMEA and Europe
-
Continue innovating new products for
specific markets
-
Improve customer service in existing
markets
-
Improve Human Resources to retain
employees at the middle level and spur growth
c. Supporting
Functional Strategy
-
Snap-on needs to allocate more funds for
advertising. Social media, web advertisements, and TV advertisements have very
high ROIs.
-
Spur innovation by holding competitions in
technical schools was to update its product catalog.
-
The company needs to invest in new
technologies and tools to capture new markets. For instance, the company needs
to develop cheaper economic tools for emerging markets. The cost of the Snap-on
tools has become a barrier to entry to markets such as Europe, which has been
affected by consecutive recessions.
-
The HR practices of the company need to be
improved to listen to employee grievances. The company also needs to update its
recruitment practice to hire younger employees.
d. Corporate
scenario
A growth strategy
will lead to sales and net income growth. The company acquires new markets in
emerging markets. An investment in non-traditional marketing channels such as
social media expands the company's brand visibility beyond its traditional
market. The company has been blamed for being too traditional, largely because
of the profile of the executives.
e. Pros
-
Snap-on is put on a recovery strategy where
it will increase revenue
-
Capture market share in emerging markets
-
The company gets to expand its reach to
other customers who are not primarily garages or commercial clients, for
instance, individuals who would like to have tools for repairs of their cars or
building projects
f.
Cons
-
The company might not completely realize
its goals and end up wasting money
-
Emerging markets are flooded with budget
tools from small players, and Snap-on might not pick market share in those
markets
3. Strategic
Alternative #3: Retrenchment Alternative
a. Corporate
Directional Strategy
-
Cut back on non-performing products and
retain performing products
-
Exit struggling markets
-
Consolidate non-performing divisions
b. Supporting
Business Strategy
-
Consolidate operations in Europe and exit
some countries
-
Enter into joint ventures or make
acquisitions in emerging markets instead of starting from scratch
-
Consolidate the Repair Systems &
Information Group with other divisions such as the Commercial & Industrial
Group in Europe and Asia to make the operations more efficient.
c. Supporting
Functional Strategy
-
Cut operational expenses in all divisions
by slashing unnecessary costs
-
Cut back on the active investment in
technical education
d. Corporate
scenario
If Snap-on were to
implement these alternatives, they would cut back on expenses and increase
profitability without spending more money on advertising. The company will
still have to depend on the US market for a significant portion of its revenue.
Sales in the European region have been shrinking, and Snap-on may not expand in
Europe beyond its current market share. Therefore, additional investment in the
region will have a low ROI.
e. Pros
-
The firm saves on money that it needs to
use in other ventures, such as investing in quality products and customer
satisfaction
-
Gets the firm on a path to growing
profitability
f.
Cons
-
Snap-on might lose market share to
established competitors who are moving into emerging markets aggressively
-
Overdependence on the US market could hurt
the firm's growth prospects in the future
-
Snap-on could lose customers in its major
markets if it rolls back on some non-performing products
B. Recommended
Strategy
1. Strategic
Alternative-Recommended
The growth
strategy is the best strategy to take in the case of Snap-on. It is the
strategy that ensures that the company will be on a path to long-term growth.
The company's overdependence on the US market threatens its market position and
revenues. Any shocks in the US market could severely affect the company's
revenues. A growth strategy will take the company into emerging markets
2. Decision
criteria
-
Return on Investment (ROI)
3. Rationale/Justification
-
The return on investment is the best
decision criterion in this situation because it offers an objective method for
evaluating the alternatives (Pokhrel, 2015). The alternative with the most ROI
is the one that is chosen.
Explain how you decided
on the selected strategy in your SA and what are the assumptions in the
Pro-Forma income that support this strategy?"
To
arrive at the selected strategy, I started by evaluating all other
alternatives, outlining the elements of corporate directional strategy,
business strategy, and functional strategy. Second, I compared these categories
of strategic decisions across all three alternatives. Third, I compared the
company's financials and decided on which strategy would result in the best
financial results for the company. For instance, if Snap-on continues with
business as usual, with the no-change alternative, the company would grow at
only 4% or less as in the previous year. However, to get back the company to
the growth rates that it enjoyed before 2012, the company needs to grow at
least 10% year over year. The growth strategy ensures that the company is
entering new markets to support the dwindling revenues in Europe and the
saturated US market. Therefore, the decision criteria that I used was an
evaluation of the ROI of all the alternatives from a subjective perspective.
The major assumption from the Pro-forma is the assumption of growth rates. For
alternative 1, I assumed that if the company does nothing, the growth rate will
stay the same at 4%.
VII.
Implementation
Snap-on is the
leading distributor and manufacturer of hand tools and automotive diagnostic
equipment in the United States. Although the company seems well established in
the market, there is some implementation of its needs to maintain its growth
and remain profitable. In addition, given the competition in the market, an organization
like Snap-on needs to come up with an implementation that will be effective and
efficient in making it remain competitive in the market.
A. Corporate
Directional Strategy
1. The
directional strategy is an important form factor for Snap-on because it helps guide
the corporate mission and values and what it needs to do to make its business
grow and increase its profits.
2. Snap-on
corporation has been focused on value creation processes that seem accretive. As
a result, the company has been able
B. Supporting
Business Strategy
1.
Given that Snap-on needs to maintain
its market profitability, it has to implement supporting business strategies
such as cost leadership. This strategy helps the company develop capabilities
that reduce costs below the insutry average and achieve economies of scale.
2.
Another vital strategy Snap-on can
develop to support its business is having effective distribution channels such
as Franchisees that can access the latest technological tools and use learn
production method as that will help maintain the company's competitiveness in
the market.
C. Supporting
Functional Strategies
Functional
strategies are essential to Snap because it helps the organization not only to
achieve its short-term goals but also manage operational activities. Given that
it needs to maintain market growth, it should enhance comprehension Customer
Motivations program, which will show the association's promoting group about
the brain psychology of clients with regards to their purchasing conduct (Pokhrel, 2015).
A more profound comprehension of your client's inspirations will empower your
colleagues to foster ways of moving toward their promoting system. The use of
this strategy will make Snap-on maintain its market value.
References
Department, S. M.
(n.d.). Snap-on incorporated Porter Five Forces Analysis and Porter 5 forces
analysis. Fern Fort University. Retrieved April 30, 2022, from
http://fernfortuniversity.com/term-papers/porter5/analysis/2468-snap-on-incorporated.php
Hampton, J. L.
(2018). A Narrative Inquiry Case Study Analysis of the Evolution of the
Hill College Snap-On Automotive Technology Program from 2010 to 2017.
Tarleton State University.
Hoffman, A. N.
(2014). Snap-on Tools: A Victim of Its Own Success. Rotterdam
School of Management, Erasmus University.
Indeed, I. (2021). Snap-on.
Snap-on Mission, Benefits, and Work Culture | Indeed.com. Retrieved April 30,
2022, from https://www.indeed.com/cmp/Snap--on/about
Patrick Gorman, P. G.
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