Provide      environmental scanning of current conditions in the area of expansion      including economy, competition, political stability, and so forth.

Unit 2 individual project

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.