Consider the following
scenario:
You have held
conversations with Precision Part’s leaders and obtained the following
information, which you want to use in the development of a 4-year strategic
management plan.
PPQ
Parts employees now number 5,000, and all are currently employed in
the United States. It plans to grow to 10,000 employees in 4 years.New
facilities will be needed in international expansion, and PPQ Parts
anticipates building most of those (80%) outside the United States.
PPQ Parts holds 5% of the world market share on small SUVs, but its goal
is 9% in 4 years.Current
stock price is $10 per share. The goal is $22 a share.
Profit margin 3-year average is 6%. Industry average during this time has
also been 6%. The company goal is 13% in 4 years.PPQ
Parts has averaged 28% employee turnover during the last 3 years. This is
compared to an industry average of 25%. The goal of the company is to
increase employee retention by lowering annual turnover to 17%.PPQ
Parts contributes to all the local communities in which it is doing
business. This is one of its corporate values. Current charity is 0.5% of
total profits, but the company would like to raise that to 5% in 4 years.
Assignment
A strategic management plan
is vital for the company business today. Review the company scenario at the
beginning of the course for additional information regarding growth goals.
Create a basic strategic management plan for PPQ Parts including quantifiable
goals and measures. Include the following in your report:
Provide
environmental scanning of current conditions in the area of expansion
including economy, competition, political stability, and so forth.Address
internal resource analysis such as managerial and financial strengths and
weaknesses.Please
include short-term and long-term strategic goals.Location
consideration for implementation is vital. Please explain the benefits and
limitations for expansion in your chosen area.
Be sure to reference all
sources using APA style. For more information on APA, please visit the APASTYLE
Lab.
4 pages in length
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