Environmental scanning of current conditions in the area of expansion including economy, competition and political stability
Think about the following example:
You’ve spoken with Precision Part’s executives and gathered the following data, which you want to use to create a four-year strategic management plan.
PPQ Parts now employs 5,000 people, all of whom are based in the US. In four years, it intends to expand to 10,000 personnel. In order to expand internationally, new facilities will be required, and PPQ Parts plans to construct the majority of them (80%) outside of the United States. PPQ Parts currently controls 5% of the global small SUV market share, but its objective is 9% in 4 years. Shares of the stock currently cost $10 each. $22 per share is the target. The three-year average profit margin is 6%. During this time, the industry average has also been 6%. 13% in 4 years is the company’s target. Over the past three years, PPQ Parts’ staff turnover rate has averaged 28%. This is in contrast to the 25% industry standard. The corporation wants to reduce yearly turnover to 17% in order to boost staff retention. PPQ Parts gives back to every neighborhood where it conducts business. One of its corporate values is this. The corporation wants to increase charitable giving from its current 0.5% of total income to 5% in 4 years. Assignment
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Having a strategic management plan is essential for today’s business operations. For more details on growth objectives, refer back to the company scenario from the beginning of the course. Make a basic strategic management strategy for PPQ Parts that includes measurable objectives and performance indicators. the following information in your report:
Provide an environmental scan of the current state of the economy, competitiveness, political stability, and other factors affecting expansion. Analyze your own resources, including your managerial and financial strengths and weaknesses. Strategic objectives both near- and long-term should be included. It is crucial to take location into account when implementing. Please discuss the advantages and restrictions of expansion in the location you have selected. Use APA format to properly cite each and every source. Visit the APASTYLE Lab for additional details on APA.